Advice: "Guidelines" for selling an expensive bike

[Big O Dave]

I'm thinking of selling my Harley

and I've never gone through the selling process with a motorcycle before. To me, it seems that the following "rules" should be observed by the seller:

1. Cash only
2. No test rides
3. Meet at a public place (other than my home) such as my place of business

Can you think of anything else, or do you think my "rules" are in some way wrong?

Please comment!

 

[Drew2000]

FWIW, If I'm gonna buy an expensive bike, I want to test ride it, with the understanding that if I crash it. I bought it.

Drew

 

[Big O Dave]

Originally Posted By: Drew2000
FWIW, If I'm gonna buy an expensive bike, I want to test ride it, with the understanding that if I crash it. I bought it.

Drew


How do you make that understanding legally binding? Plus, how do you protect yourself from someone riding off with it (like around the corner into a van, or something)?

 

[Hermann]

Check out your customer just like a dealer would. You copy their D/L.(make they are M/C endorsed) You make them sign a promissary note, stating your conditions and the price if crashed. Make the test drive at a large public parking lot on a Sunday morning, and have just a dribble of fuel in the tank, so if they take off they wont go far. And follow them if they leave the lot. Just dont deal with any bum that inquires. If they show up in a clapped-out minvan and look like a bum, obey the warning signals. Go to Car-Max and see what they offer if you are still too paranoid to proceed.

 

[Steve S]

Would you buy a M/C with out a test ride?

 

[Big O Dave]

Originally Posted By: Steve S
Would you buy a M/C with out a test ride?


I did! This one.

 

[sunruh]

if i cant ride it, i aint buying it!!!

 

[Big O Dave]

What if the buyer places the agreed amount of cash in my hands for the test drive, and if he/she crashes it, he or she automatically becomes the proud new owner.

 

[Smoky14]

This could take a LONG time to sell.
I just bought one used and rode it for at least 30 min. Good bike pulled out the cash and left.

The more it cost...the longer I want to ride.

 

[02zx9r]

just make sure you get plenty of info so he doesnt take it for a ride and not come back

 

[Drew2000]

Originally Posted By: Big O Dave
What if the buyer places the agreed amount of cash in my hands for the test drive, and if he/she crashes it, he or she automatically becomes the proud new owner.


That would work. You could give a signed title for the bike to the prospective new owner (with out filling in the new owners name) and exchange it for the agreed upon amount, with a 30 minute test-ride guarantee. If the guy doesn't want the bike, you take back the title and give him the cash, if he does, complete the sale with a reciept and fully filling out the title.

The guy giving YOU the cash also wants to make sure that you actually own the bike he's test riding.

You could even have a friend video tape the whole deal showing the bike's condition and the agreement/negotiation between you and the test-rider.

Drew

 

[Audi Junkie]

I encountered a rider who crashed during a test. A deer ran out on him. The bike was totaled and I gave the bloody guy a ride back to the owner.

 

[beanoil]

Originally Posted By: Big O Dave
Originally Posted By: Steve S
Would you buy a M/C with out a test ride?


I did! This one.

No way. But, if the purchaser is serious, he will understand your wanting to see his license, and get the warm fuzzy you need from him that your property will be safe while in his possession.

 

[EagleFTE]

I would take a money order or certified check and upon agreement on the sale he and you go to the bank together and deposit the check and keep your transaction receipt. At the same time, once the bank has accepted the check get the title transfer notarized.

I bought a Road King without riding it years ago. I've also refuse to let someone ride a bike I had for sale and he walked away. It didn't bohter me one bit. If the buyer gets to know the seller enough to trust him, see the maintenance records, the condition of the bike, start it, run it, and good detailed once over I'm ok with it. Bikes are very different than cars in the test ride respect. I understand that as both a buyer and seller. If a buyer dosen't understand that then he has not been around the bike world very much. There are many, many horror stories about bikes that don't come back or don't come back in one piece. On the other hand if he leaves a $20k+ vehicle in your driveway with valid registration and keys and seems like a honest guy that has the ability to stand behind his mistakes.... But remember that the most honest, respectable guy in the world can total your bike and even get killed doing it. Again it's not like turning over keys to a car at all IMHO. There are many sellers that don't let someone ride away on their bike under any circumstance so you won't be alone in that respect.

 

[Big O Dave]

Originally Posted By: EagleFTE
I would take a money order or certified check and upon agreement on the sale he and you go to the bank together and deposit the check and keep your transaction receipt. At the same time, once the bank has accepted the check get the title transfer notarized.

I bought a Road King without riding it years ago. I've also refuse to let someone ride a bike I had for sale and he walked away. It didn't bohter me one bit. If the buyer gets to know the seller enough to trust him, see the maintenance records, the condition of the bike, start it, run it, and good detailed once over I'm ok with it. Bikes are very different than cars in the test ride respect. I understand that as both a buyer and seller. If a buyer dosen't understand that then he has not been around the bike world very much. There are many, many horror stories about bikes that don't come back or don't come back in one piece. On the other hand if he leaves a $20k+ vehicle in your driveway with valid registration and keys and seems like a honest guy that has the ability to stand behind his mistakes.... But remember that the most honest, respectable guy in the world can total your bike and even get killed doing it. Again it's not like turning over keys to a car at all IMHO. There are many sellers that don't let someone ride away on their bike under any circumstance so you won't be alone in that respect.


Thank you.

 

[hd2002]

I think there are 2 things wrong with your "rules".

1. Most people don't have $10-$15,000 in cash.
2. I would not expect anyone to buy my bike without a test ride.

This is why I alway's trade in at dealer. With tax break it's just not worth it to me. If your are not trading, selling to dealer might be your safest and quickest sell.

 

[EagleFTE]

Originally Posted By: hd2002
I think there are 2 things wrong with your "rules".

1. Most people don't have $10-$15,000 in cash.
2. I would not expect anyone to buy my bike without a test ride.

This is why I alway's trade in at dealer. With tax break it's just not worth it to me. If your are not trading, selling to dealer might be your safest and quickest sell.


But HD2002, number 1 is exactly the point. If the guy can not secure the funds (lets say 15K) to buy the bike why would you let him drive away on it. He sure as heck will not be able to secure the funds to buy a twisted heap of steel. Won't happen. I had a work mate about 10 years ago who's friend let a youngster take his bike for a test ride. The kid came back walking about two minutes later minus the bike. Kid said it was a lot heavier than he thought it would be. He dropped it at the first stop sign leaving the subdivision and just left it there busted and leaking. The way this story usually ends is you have a broken up bike no longer sellable and the propective buyer just walks away. You have no legal recourse. You will be on that blue collar comedy deal with the guy saying "here's your sign".

If the guy is really intersted let him drive behind you in his car and find a lonely road. Do a max accel on the onramp and cruise at about 90 until he catches up. Then turn around and go home. If he thinks it is a bad bike let him go to a dealer where he belongs in the first place. If you don't have the jack you have no business trying to do a one on one transaction. The stories I could tell... Talk to someone who works at a dealer. They could crash this site with the volume of stories.

I'm old school. If you want something like this work hard enough, long enough, to buy the thing. If you can't, go to a dealer and get a loan.

I do expect someone to buy one of my bikes without a test ride and I've bought myself from the other side without a problem or regret. They do it all day every day at these car auctions. You just have to know what you are looking at and understand it.

 

[eljefino]

I can see some buyers wanting to meet at your house just to see the address on the title matches a face and a place. Also it ensures to him that you're not flipping the bike for a third party. They might want to see YOUR license too.

I would not do a certified check for ANYTHING, if it's a local bank have the buyer turn the check in for cash himself, if he's not comfortable walking out of the bank with 10 large, sign & exchange the paperwork in the lobby. Many banks don't carry much cash and when you go to make a sizeable withdrawl they'll give you a "free" cashiers check and make you feel honored you're not carrying all that cash or paying the $5 fee.

I sold a 48cc motorized bicycle for $450 and held the money for the test ride. As no registration/title is required for such in my state it could have been as good as gone. I agree with the "blank signed title" deal, note if someone is holding that they can easily forge up a bill of sale, even if it takes 100 sheets of blank paper to practice your signature. (But you have their money, so... whatever) (And I'm starting to notice why some states require notaries. )

 

[SD26]

Originally Posted By: Steve S
Would you buy a M/C with out a test ride?

Yes, many.

 

[eljefino]

before cashing/depositing any cashiers check (except possibly one drawn on your own bank if they can assure you it's legit) read this.

Even if you cash it somewhere and use your ID, they'll write your license number down (and maybe take your fingerprint), and even if they gave you cash, if the check later turns out to be fake, they'll come find you!

So if joe shmoe shows up with a cashiers check with a blank to: line, have him make it out to himself and get real cash.