Buying Used (part 2)

[KindredGhost]

Hey Fellas,
If I could, I'd buy all of you a good beer... Like Pyramid Hefeweizen. But seriously, thank you for all your input... Now, I think I'm ready to purchase this one FZ6 in particular.

Here is the issue.

She doesn't have the pink slip. She's still making payments on it, and is selling it for I believe what's left on the bike (asking price 4200, but still negotiable). So, that being said, what's the best way of handling this without getting screwed?

I was thinking of writing up a contract, giving her half of the agreed price, I take the bike, and when the pink slip gets in, I give her the other half of the money owed. This of course still doesnt' guarantee I don't get screwed, but if I were ripped off, I'd at least have the bike (with what little good that would do).

I can't really think of anything else. The bike itself is in average condition. It was tipped over at a low rate of speed on both sides (it looks like anyway), the rear foot brake is bent a bit, the rear plastics are scratched a bit on both sides (but not to terribly bad), and the gears seem to shift ok, but It's a bit strange... It seems like I have to lift my entire leg to shift up. This leads me to believe that the level at which the clutch pedal sits is adjustable. In all likelyhood it's not, but that's a guess.

The bike itself has about 12k miles on the clock, and a corbin seat. So, what would you guys do? I think I'm going to offer her 3700.

KG

 

[davidsa1]

Does she have it financed with Yamaha or a bank? If she has it with a bank you should be able to go to the bank with her and take care of it.

 

[a_sick1]

just got my title today!!!! after waiting a long 5 weeks and 2 days...what a pain in the A@#.
guy had financed with HSBC...worst bank in the world...i told them i would pay extra to expedite the process...they said it could take up to 30 days to get the title... it still took an extra week and a half after that.
sounds like your making a half decent offer.....i'd offer even less than that ...knowing what i know now....


FINALLY LEGAL!!!!!!!!

GOOD LUCK

 

[bleego]

Here is a randomly linked thread about buying a bike that is still being financed that will hopefully help out.

*Buying A Bike That's Still Financed* - BARF - Bay Area Riders Forum

speaking of Hefeweizen, have you ever tried a Dunkelweizen? Think Dark Hefe. Hella good.

 

[mustnt grumble]

Here is a randomly linked thread about buying a bike that is still being financed that will hopefully help out.

*Buying A Bike That's Still Financed* - BARF - Bay Area Riders Forum

speaking of Hefeweizen, have you ever tried a Dunkelweizen? Think Dark Hefe. Hella good.

I'm assuming that things are different in the US, but here if you sold a bike which had outstanding finance on it, you would be committing an offence as it doesn't actually belong to you.

Worse still, the buyer wouldn't own it either and technically the finance company could repossess the bike leaving the new owner with no bike and no money!

 

[bleego]

I'm assuming that things are different in the US, but here if you sold a bike which had outstanding finance on it, you would be committing an offence as it doesn't actually belong to you.

Worse still, the buyer wouldn't own it either and technically the finance company could repossess the bike leaving the new owner with no bike and no money!

Option 3 in the linked thread involved paying off the lendor directly for the balance due.

It produces enough paperwork to CYA, and really, if the lendor cashes your check, you should have access to a copy of it. If any collections activities happen, you should have the proof needed to shut it down pretty quickly if necessary.

 

[CanadianFZ6]

No pink slip (I assume that is what you guys in the US call an ownership?), 12,000 miles, damaged and been down more than once all for $4200 (even at $3700)... You said it yourself... "It all seems a little bit strange". I wouldn't touch it with at 10ft clown pole.... I would say walk away. Find one with less "red flags" attached....:thumbup:

 

[armystrong]

I agree with CanadianFZ6.

I had the same issue when I purchased my used FZ6. The guy owned the bike, but said the bank had failed to send him the title. He tried to give me the "let's sign an agreement" thing and I didn't bite. I know its hard when you really want to make the purchase, but just like I told him...No Title...no sale. The title magically appeared in a couple of weeks...imagine that. Holding out now will save you some heartache in the future. Once the seller gets your money, he/she will not work to get the title or pink slip for you...thats for sure. Hold out until all the paperwork is right.

On another note...it sounds like the bike has been through a lot in it's 12000 miles. Be patient and you could probably find a bike with a cleaner history and for about the same or less.

Continue to shop while she unscrews the pink slip issue.

 

[CanadianFZ6]

... further... when you mentioned, things were not right with the shifting (using your leg to get it to upshift)... makes me wonder when it was down, it might very well bent the shift fork... Don't touch this bike....

 

[boo68]

I didn't catch the year of the bike, but I bought my 05, in Jan 07 for $4800 (from a dealer) I think you can get a better deal than that. Mine only had one little scratch on the cover thingy, but no bent levers or shifter or anything like that. BE PATIENT so you get a safe bike that you will enjoy riding not keep finding things to break on it. No is the top of the season so it may be tough but just keep watching dealers, and craigslist

Good luck

Deb