GRM's guide to Private Sales/Purchases

Tomorrow I am looking at a motorcycle. It's not a huge sum of money, but it's sizable enough. I intend to pay cash. What steps should I fulfill so that everything goes smoothly with the transaction, should we come to an agreement on price? This is my first purchase from an individual (other than untitled basket cases), so I'm not personally familiar with all the steps involved.

There is a caveat: The person taking care of the listing is a neighbor, because the owner is frequently out of town. Is this a red flag, or can it still be legitimate, given that the title has been signed over by the actual owner ahead of time?

If it is currently registered, can I just ride it home instead of arranging for a truck or trailer? I have already verified with my insurance company that I will be covered in transit, and the DMV won't be open on Saturday (or Sunday, or Monday...).

MitchellC wrote: There is a caveat: The person taking care of the listing is a neighbor, because the owner is frequently out of town. Is this a red flag, or can it still be legitimate, given that the title has been signed over by the actual owner ahead of time?

I'd say that its fine to go look at it and make the decision, but take no action with the title unless you are dealing with the owner.

MitchellC wrote: If it is currently registered, can I just ride it home instead of arranging for a truck or trailer? I have already verified with my insurance company that I will be covered in transit, and the DMV won't be open on Saturday (or Sunday, or Monday...).

How far? He should be keeping the plates. Legally, uh, I am not sure but I don't think so. Real worldly, I wouldn't care.

Look at the paperwork, hold the Title next to the VIN on the bike and check the numbers.

Bring cash in two different poskcets. $2k in $100s in one pocket, $500 of $50s in the other (for a $2500 bike).

Don't be afraid to walk away, that's so much easier than having regrets later.

Put up pictures.

Dan

mtn wrote:

MitchellC wrote: If it is currently registered, can I just ride it home instead of arranging for a truck or trailer? I have already verified with my insurance company that I will be covered in transit, and the DMV won't be open on Saturday (or Sunday, or Monday...).

How far? He should be keeping the plates. Legally, uh, I am not sure but I don't think so. Real worldly, I wouldn't care.

That depends on the state.

GA allows you to buy anything you want and drive it anywhere you want for 30 days before taking any action whatsoever on the title or registration. All you need with you is the bill of sale.

Mitchell is in FL- I don't know their rules.

The neighbor handling the sale is a little odd. It could be legit, it could be someone who bought it and never transferred the title and is just passing the signed title to you (also not going to get you in trouble), or it could be someone got the bike and the title and forged a sig and is selling it illegally. The last one is unlikely because they would have to get the title AND the bike AND be willing to forge a signature. Are you going to be going to someones house to look at it? If so, check and see if the "Neighbors" address on the title is really in the neighborhood. Take down a bunch of info about the person actually completing the transaction including name, address, phone numbers, email, heck a picture if you can manage it, and a signed bill of sale. Try to talk to the actual owner on the phone, they can do that from out of town. J

914Driver wrote: Look at the paperwork, hold the Title next to the VIN on the bike and check the numbers.

^^ this. Always do this, and check if the numbers on the frame look hand stamped.

I'm about to head over to check it out. I have been communicating with only the neighbor so far, but the actual owner will be there tonight. Apparently the owner is a native Cuban so he thought his odds of a sale would be better with an American answering the phone, rather than a Hispanic voice. Considering that it is on a small-town classifieds listing, that presumption may not be far off base.

My offer may be relatively low, but I don't need the bike, and the ad has been up for almost a month.

I'm now a proud father of an '05 SV650, with 32,000 miles, purchased for $1820.

Hahahaha-how exactly do you get to a buying price of $1820. I can just imagine that offer/counter offer exchange. Congrats by the way.

This was how the exchange went:

"I was looking for $2300, $2100 considering that the front tire will need replacing within a few months."

"I have $1820 cash with me. That is my budget." Thankfully it had a few dents on the tank, since I already added a few of my own scuffs. Why would anyone purchase a new bike as their first bike?

How did you scuff it already?!

Also, solid buy!

Did you ever finish your RD350?

And how much quicker is it than the 650?

Osterkraut wrote: How did you scuff it already?! Also, solid buy!

I tipped it over when leaving a light three blocks away from my apartment, no joke. Considering all of the rules that I violated (inexperienced, riding at night, riding in the rain, riding sixty straight miles back, riding a new motorcycle), well, it's a lesson learned. Of course the tip-over switch was signaled, so I have to reset that tomorrow.

Congratz man. Now I'm really gonna have to kick it in gear to get a bike ready for challenge scooter shenanigans.