Trading in bike immediately after purchase
#1
Trading in bike immediately after purchase
Taking a sport glide for a test drive on Tuesday. If I like it I'm thinking of buying this limited I have my eye on for $13k. Dealer said he would give me $15k on a trade in for the sport glide. Would save me $2k which would be great.
so could I just take the title that was signed by the guy I bought the limited from and bring that to the dealer with the bike (I'm sure the owner would let me borrow his plate to take it to the dealer) or do I have to transfer the title to me first?
I live in monroe county NYS
thanks.
so could I just take the title that was signed by the guy I bought the limited from and bring that to the dealer with the bike (I'm sure the owner would let me borrow his plate to take it to the dealer) or do I have to transfer the title to me first?
I live in monroe county NYS
thanks.
#2
Join Date: Jan 2007
Location: along the shore of Mishigami
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So let me see if I get this. You test ride a bike (#1), you like it. You are going to buy a different bike (#2) then trade it against #1 to make $2G to save $2G.? Okay. The title situation is a little more confusing. You buy the bike and title signed over to you, at some point in time the bike needs to be registered in your name for your tags. If it were me, I'd pay for #2, get the title, apply for registration from the state. While that is in process put a down payment on #1 and ask the dealership to hold it for you, when you get your new tag/registration then do the trade. Are you trying to avoid a sales tax on one of the bikes, just asking.
#4
Join Date: Jan 2017
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#5
I'm in new york as well so what red said is true...definetly not going to fly in the great nanny state. Also since you'll have to register, insure,pay for a new title and pay taxes you'll be about 1100-1200 into thst process. So you're looking at clearing about 800 maybe a grand if you're lucky. Who's to say the dealer doesn't change his trade in offer once you bring the bike in for them to see??? I'm sure it wouldn't be the first time a dealer throws out a high offer to get someone in the door then beat up the trade to lower the value...either take the 13k you were going to buy the other bike with and buy it and keep it ,you said you had your eye on it, or take the 13k and work a better deal on the new bike. Seems like a lot of risk for very little reward.
#6
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Uncle Larry (07-08-2018)
#7
So let me see if I get this. You test ride a bike (#1), you like it. You are going to buy a different bike (#2) then trade it against #1 to make $2G to save $2G.? Okay. The title situation is a little more confusing. You buy the bike and title signed over to you, at some point in time the bike needs to be registered in your name for your tags. If it were me, I'd pay for #2, get the title, apply for registration from the state. While that is in process put a down payment on #1 and ask the dealership to hold it for you, when you get your new tag/registration then do the trade. Are you trying to avoid a sales tax on one of the bikes, just asking.
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#8
I'm in new york as well so what red said is true...definetly not going to fly in the great nanny state. Also since you'll have to register, insure,pay for a new title and pay taxes you'll be about 1100-1200 into thst process. So you're looking at clearing about 800 maybe a grand if you're lucky. Who's to say the dealer doesn't change his trade in offer once you bring the bike in for them to see??? I'm sure it wouldn't be the first time a dealer throws out a high offer to get someone in the door then beat up the trade to lower the value...either take the 13k you were going to buy the other bike with and buy it and keep it ,you said you had your eye on it, or take the 13k and work a better deal on the new bike. Seems like a lot of risk for very little reward.
#9
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