I found an 04 suzuki gs500 that needs basically all new fairings and maybe a guage pod. They are selling it for $1500 and i'm wondering if it is worth it to buy and put new fairings on it. I seen the same bike just a different color for $2000 on ebay. So is this bike worth what i will put into it?

 

All new fairings and a gauge cluster? Sounds like there might be more damage than just that. Get the forks checked out, and see if you notice damage to the frame.

New fairings are really expensive, too. If this is your first bike, I'd suggest looking for another bike. You don't want to deal with extra headaches while trying to learn to ride.

 

The GS500 is a horrible slug of a bike. Forget it. If it is killed open a beer and rejoice instead. If you want a cheap parallel twin 500 the the GPZ is a much better bike.

 

as for the fork and the frame... both are still good. it looks like it was layed down on the right side since that mirror is missing. The front fairing (around headlight) is still good and the windshield is still good. I believe it may need a guage pod because i can wiggle it around. I don't care if the bike is slow or fast i just need a beginner bike for a couple months then i'm getting a CBR. Looking for something in the range of $1500 for my first bike... any ideas or any directions yall could point me?

 

Dude i say if that bike is that thrashed your going to end up putting double into it to get it ho wyou want it. If you wanna cheap new bike for a beginner get a ninja 500 or just find a nice new CBR. Check out the thread about beginners and what bike to get there is some good info. Riding a bike is all about respect for yourself and the bike. but get a bike that is affordable yet ridable that you dont have to spend alot of cash on.

 

I started with a 500R, never looked back.

 

If you plan on bumping up to a CBR (or other sportbike) in the future, then try to find a Kawasaki EX250. They're relatively cheap (not compared to your GS500), but they're easy to sell because of the constant influx of new riders. More likely than not, you'll get what you paid for the EX250 when it comes time to sell it.

The amount of money you pour into the GS500 will not be earned back when it comes time to sell it.

 

I don't see fixing up a bike like that when you caould just spend the money on a better bike. If you pay 1500 for it, then spend, lets say 2000 more to fix it up. You could have just spent the 3500 on a nicer bike, with les worries.
Just my thinking