How to buy a used bike privately without getting screwed?
#21
Join Date: Oct 2005
Location: Santa Klaus County, Cali
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About the only thing I would add is to ask to see receipts for work done. Some stuff you can obviously see but if there are any engine mods then you want to know who did it and when it was done.
Regarding vin... I would not give out the vin on my bikes to anyone. If you wanted a pic I would block out the production numbers or just show a partial. If you are truly interested, go look at it and inspect it in person. Identity theft is alive and well for people as well as property. Last thing you want to find out is that there are 2 bikes in 2 different states both having the same vin (one of which is yours)
Regarding vin... I would not give out the vin on my bikes to anyone. If you wanted a pic I would block out the production numbers or just show a partial. If you are truly interested, go look at it and inspect it in person. Identity theft is alive and well for people as well as property. Last thing you want to find out is that there are 2 bikes in 2 different states both having the same vin (one of which is yours)
#22
Waiting for the check to clear is great for the seller but what about the buyer? I hand over a draft, wait for it to clear and the guy splits with my bike or flat out refuses to give me the bike. Then its court and a bunch of BS to get my loot back........
I'd imagine most dealers would be willing to work as an escrow service for such transactions though. Buyer pays the dealer, dealer waits for funds to clear and then owner signs the ownership over and dealer cuts seller a check.......
Sounds good to me...
I'd imagine most dealers would be willing to work as an escrow service for such transactions though. Buyer pays the dealer, dealer waits for funds to clear and then owner signs the ownership over and dealer cuts seller a check.......
Sounds good to me...
#23
Why would a dealer want to do that? Unless there is a couple thousand in it for him for his time and effort
#24
Waiting for the check to clear is great for the seller but what about the buyer? I hand over a draft, wait for it to clear and the guy splits with my bike or flat out refuses to give me the bike. Then its court and a bunch of BS to get my loot back........
I'd imagine most dealers would be willing to work as an escrow service for such transactions though. Buyer pays the dealer, dealer waits for funds to clear and then owner signs the ownership over and dealer cuts seller a check.......
Sounds good to me...
I'd imagine most dealers would be willing to work as an escrow service for such transactions though. Buyer pays the dealer, dealer waits for funds to clear and then owner signs the ownership over and dealer cuts seller a check.......
Sounds good to me...
#25
another suggestion...not sure, but for cars there are inspection services you can purchase. I did it once...cost about $125 I think. Very thorough, but not so thorough as to do compression tests and all that.
Maybe there's something like that?
Or have the seller meet you at a shop and pay the shop to give it a good going through...
as for payment, www.escrow.com. Ive used the several times for high dollar pro audio deals.
Maybe there's something like that?
Or have the seller meet you at a shop and pay the shop to give it a good going through...
as for payment, www.escrow.com. Ive used the several times for high dollar pro audio deals.
#26
Lots of good advice here . . . one other "trick" I use; I look inside their car/truck (not their bike(s)) even if it's an old one and kinda beat up. I look to see how clean the inside of the car is. If they keep the interior clean it's a fairly good bet that they treat all of their machines that way . . . all the time, not just when they're selling them!
#27
Awesome advice! Thanks a ton! Now the question is how to find a "fair" value to both me and the seller. Looking at a few 2008 RKC's all with less than 8000 miles. Which book value is most accurate with todays economy? For example KBB trade in is $11750 (+$405 for abs) KBB retail is $15730 (+$600 for abs) and NADA has it listed as low retail $13545 and average retail $14700.
Where the hell does a used bike from a private seller fall? I see lots of RKC's for sale at $16K and above and they're all still for sale. Even those that are $15K are still "for sale". It appears only those around $13-14K are actually selling.
Where the hell does a used bike from a private seller fall? I see lots of RKC's for sale at $16K and above and they're all still for sale. Even those that are $15K are still "for sale". It appears only those around $13-14K are actually selling.
every SELLER.... wants/expects HIGH retail.....
every BUYER.... wants/expects LOW wholesale...
Check out Kelly, and NADA, and understand they are a price guide, and the range is based on a bike's "value".... Now there are plenty of sellers out there who owe more than that bike is "worth"
Are you paying cash for the bike? or are you getting a loan? Many banks have limits as to how much they will lend for a used vehicle..Check with your bank first.
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ken thompson
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11-13-2008 07:16 AM