I’m not sure on current resale value of the GN 250, if it checks out mechanically, and you’re REALLY happy with the bike, you might be able to walk away with a decent deal. But $1500 obo does seem like a lot, when I read some of the deals people are seeing on 250cc Ninjas, nighthawks, and rebels (which I know you’ve already looked at – I found the other post)
Keep in mind, its not easy to find parts for an older bike, and you WILL be buying parts. I just bought an 82 Honda Nighthawk 650 for around the same price, but I knew the entire history of the bike (since it left the showroom). I’m buying parts already! I would have left it there if was going to be my only vehicle.
Older bikes mean spinning your own wrenches quite often, and waiting for part orders. If this is going to be your primary mode of transportation, I’d keep saving and hunting for something newer. If you prefer the look of an old naked street bike, and don’t mind working on the bike, you can always look for a Yamaha Maxim 400 or a Honda Nighthawk 450, you might find a better price than the GN 250. I actually saw a Maxim 400 here last week for 600. If you go for the Suzuki, make sure your mechanic friend checks it out and then subtract another 100 from whatever he says its worth.
Just my 2 cents.
P.S.: Bikes values depreciate……bike parts don’t….I’m learning the hard way. My nighthawk and me have a love/hate relationship right now. I love to look at it, and I hate to think about it.