Help pls, Question about selling a bike?

[Bloke]

Ok so i unfortunatly am selling the RF, i posted an add in Craigslist to which i recieved a number of calls. i have about 4 guys coming to look at it this weekend. my question/dilema is, one of them asked if he could test ride the bike. how do you guys feel about this? should i do so? get money off him to show he's interested, take his credit card driving license & car keys rfom him while he's take a test ride?

Also i still have a small amount left on a loan through my credit union, how does that work? if someone pays me, so i give them the bike pay off the loan & then when the title arrives sign it over to them?

this would be the first time i've sold a bike private party & i am a little green to the proceedure.

any advice from those who have sold bikes privately would be greatly apprciated. (as would any advice from anyone!)

cheers
James

[TheIglu]

Don't let them test ride it. Too much risk on your behalf. It's not like a car.

If they ask why, tell them that if they were selling a bike they would understand.

They pay you, you pay off the loan, then they give you the title.

[highsider]

Here's what you tell them: It rides awesome. If you like it, bring me all of the money in cash, put it in my hand, and take the bike for a ride. If, after the test ride, you dont want the bike, and it comes back in the same condition it left in, you can have your money back.

This will weed out lots of idiots.

[Kham]

Originally posted by Bloke
Ok so i unfortunatly am selling the RF, i posted an add in Craigslist to which i recieved a number of calls. i have about 4 guys coming to look at it this weekend. my question/dilema is, one of them asked if he could test ride the bike. how do you guys feel about this? should i do so? get money off him to show he's interested, take his credit card driving license & car keys rfom him while he's take a test ride?

Also i still have a small amount left on a loan through my credit union, how does that work? if someone pays me, so i give them the bike pay off the loan & then when the title arrives sign it over to them?

this would be the first time i've sold a bike private party & i am a little green to the proceedure.

any advice from those who have sold bikes privately would be greatly apprciated. (as would any advice from anyone!)

cheers
James

just don't scam the guy like someone did to me. never paid off his loan and never send me the title.

[Bloke]

Originally posted by Kham
just don't scam the guy like someone did to me. never paid off his loan and never send me the title.

i would like to believe i am a little bit above that!
that sucks mate, sorry to hear.
no, out of this whole process i am worried about getting scammed! i recieved one response from craigslist, from a guy wanted to payme via a chashiers check, but i had to let him make the shipping arangements for the bike first! kind'a said NO to that one!

cheers for all your advice thus far!
best
James

[Kham]

Originally posted by Bloke
i would like to believe i am a little bit above that!
that sucks mate, sorry to hear.
no, out of this whole process i am worried about getting scammed! i recieved one response from craigslist, from a guy wanted to payme via a chashiers check, but i had to let him make the shipping arangements for the bike first! kind'a said NO to that one!

cheers for all your advice thus far!
best
James

put anything up for sale on craigslist and you will get one of those email.

[breakdirt916]

Those nigerians sure love buying bikes

But otherwise, I've deliberated plenty over this issue and even lost a sale because of it.

But when I'm selling, I NEVER allow for a test ride.

[Half Squid]

NO TEST RIDES, unless Like Highsider said they give you the full $ amount in hand while they test ride. Other than that if anything happens and they do not have Insurance and or split town leaving you with a wrecked bike, & your screwed!

As for the title, The person can either trust you to pay off the loan and mail/deliver them the Title. Or call the Credit Union, ask if they have the title in that office, if not they can get it there by your request if you tell them you will be coming to pay off the loan pending the bikes sale! They should take care of it. This way you and the buyer can go to the Credit union together and you pay off the loan and he gets the title right then and there. Kind of a pain in the ars, but this way he knows your not going to screw him. Unlike the shmuck Kham got stuck dealing with you sound like an honest guy, but the buyer most likely will not know you from a hole in the wall!

I think it only takes a few days to send the title to the correct branch or directly to your house once the loan is payed off if they do not have it on hand at your local branch office.

I myself have had the title in hand on all my past sales of bikes, so it's been a snap!
Good luck.

[Bloke]

thanks again guys for all your input.
i spoke to the bloke who wanted a test ride, as he recently called to schedule a time to meet. i explained that i would not feel comfortable offering a test ride he was cool with it.
i also spoke with my credit union, they actually keep the titles at their head office here in nashua, so paying off the remaining loan ballance, getting the title & signing over to the new owner can be done instantly!

again thanks for all your advice!

cheers
James

[OreoGaborio]

gotta love it when a plan comes together

good luck w/ the sale & GET A NEW PAIR OF WHEELS SOON

[ancosta]

When I got my SV used, the owner said no rides, but I will ride it around a lot for you, you can ride next to me in your car, whatever.

You could always offer a 2up ride if you have a 2nd helmet.

[Proulx06]

FWIW, I've sold quite a few cars with loans still on them. I never pay off any of my shit before I get sick of it and sell it.

Once you have all the details ironed out (price, etc), and you're ready to finalize the deal, call your credit union and tell them you want to pay off your loan and that you will need the title. They'll usually only give you the title if you present them with cash or a certified bank check, and I usually call first now only because my old credit union keeps the titles off-site and they had to go out and get it.

Then I arrange with the buyer to meet me at the credit union, they pay me, we exchange bills of sale, I go up to the counter and pay off the loan, and a rep comes out with the title. Have the buyer sign it and you're done!