Faults:

Clutch handle was bent. Replaced for $18.

All 4 signal light posts are cracked (dry rot, dropped). Approximate replacement cost is $12 each.

No mechanical defects whatsoever.

Chrome blemished no matter how much I wax it.

O/D light inoperative (far right annunciator light). Not sure how to fix it.

General Comments:

This bike packs one hell of a punch for only being a 498cc. Must be the V4. I can beat 750cc V twin bikes in acceleration.

Recommend 5'11" and below riders. I'm 6'2" and wish the pegs were lower/more forward or the seat much higher.

Keep it around 5000 rpm and it sounds impressive. A nice deep growl. Got 51 mpg when I'm really conservative on the gear shifting. However, the bike sounds wimpy at the lower RPMs.

Incredibly reliable. Bought the bike for $999, and it has not failed me in 400+ miles. I watch my friend's more expensive and newer cruisers break often.

Faults:

Tail light warning indicator will intermittently flash. The problem is the ignition box (after 23 years) has gotten loose and you have to jiggle the key to make sure the warning indicator goes out. The tail and brake light work fine though.

The center stand can come up and dent the left muffler - I've seen this on multiple VF500Cs (Magna V30s) - I don't know exactly how it happens, but you're left with a dent in the muffler.

General Comments:

This motorcycle is 23 years old and still starts without any hesitation. Regular fluid changes and this bike soldiers on with out any thought to the years and miles. Other V30 owners have told me this V4 engine really comes into its own after 30,000 miles, so I'm just getting to the good part I guess.

The bike was only imported into the USA for two years, so finding them or information on them can be difficult. Buy a Clymer manual for maintenance and you will be able to fix any issue that arises though.

I know the larger V4 engines from Honda during this time had notorious oil starvation issues with how the engine was designed to get oil up to the cam lobes, but the VF500C does not have this problem IMO - I've never met a VF500C owner who reported it, even owners who've rolled over 100k miles.

This is a great bike for first time owners IMO due to the relatively light weight and good power this bike has. It weighs just over 400 pounds and had 66 horsepower, plus it gets about 40-45 mpg. It's great for riding in the city, to the store, as well as getting out for a country cruise. It's easy to maneuver in tight spaces, but it has the power to keep up and pass traffic on the highway.

Overall, it's a fun, reliable, and kind of rare bike, but I enjoy it.