So soon? Are you able to ride your 500 comfortably?

mo is correct to wait after summer so prices will drop....which model are you looking at?
supersports: r6, gsxr 600, cbr 600rr, daytona 675
sport touring: fz-6, sv650
street fighter: sv650, street triple
^^above list is just what i can think of off the top of my head.

the question is.....why a 2011 bike? insurance will be MUCH higher, it's more likely to be stolen, it'll be more expensive to fix, it'll be more expensive to buy in the first place since depreciation doesn't happen really until after the first year.

and @Lonny.....yes, he's pretty comfortable on the bike already....haha
still has a bit to learn but he seems comfortable enough to upgrade 

ZX6R FTW! lol.

Pretty much what Scott said. A little older one is cheaper and less costly to keep. You should pick up something 06-10 or so. Those are some goooood years for all the bikes lol.

Im just gonna be my biased-self about Kwaks lol. Get a ZX6R lol. 05/06 for the 636 motor. The 07/08 looks really badass actually. I like it. The 636 runs HAAAARD though. Great bike.

NICEEE FIND THAT IS A SICK PRICE FOR A SV650! I'd pick it up to be a track bike if I had the money....haha