I hate motorcycle sellers!

[MichaelInVenice]

Sorry for the rant.

Just spent almost an hour on the phone this evening with a seller on a different bike (not a 6R), who seemingly has a perfect bike, most of the accessories I would want for that type of bike, etc. It's a bit out of the area, but worth it for this bike at this price with these accessories.

Had wanted to see it earlier this week, but he said he already had a buyer. Then got back in touch to say the buyer backed out. I asked why, and he said the guy found a bike that was more to his liking, closer to home and asked for his deposit back. Didn't seem too weird, but should have considered that a story of somebody backing out after putting down a deposit on a used bike was probably at least a bit inaccurate or misleading. We exchanged emails to clarify details about the bike, cost, what he would take, etc.

This evening we talked about everything. I said I'd try to get down there in the next couple of days to have a look.

Then, at the end of the conversation, almost as an aside, he mentions that he just made a real estate investment so he doesn't have money to pay off the bike, so I'd need to wait to get the title. Asked him about an escrow service, and he said he didn't want to pay for one (it would run about $200).

Spent enough time reading of Leprechaun Jon's troubles that there's no way I'll waste my time or risk my money. Told him straight out, he can show me the title with his name on it, paid off; or go through an escrow service; or see if he can find a dealer to handle the paperwork for a fee. No, I won't trust him to eventually send me the title, even if I pay off the loan myself. Lender is GE Capital, so no local office to pay off the loan n person.

A local dealer still has a couple of 2012s and Yamaha is still running $500 off on those. I think I'm done with trying to deal with private sellers. I hate taking the hit on any kind of a new vehicle, but if I can negotiate a decent price on a 2012, I'll just deal with it and move on.

It would be one thing if it were the first time I saw something great only to find out that there's some undisclosed issue at the last minute. Are there any honest people out there anymore? I am really sick of this.

Anyway, sorry for the rant.

 

[Detrich]

Yah. Despite all the good finds on CL there are equally as many deadbeats. At least u didn't drive all the way out there and then find out afterwards.

That has happened to me b4, and it really sucks. Way back when, I wasted an entire afternoon one time driving out to look at a slightly used R6, then got in an argument with my GF over it, and then turns out the seller misrepresented the bike when I saw it. It was nowhere near mint and damn thing didn't even start up.

Don't these assholes realize that lying gets u nowhere? lol.

Anyhow. What bike were u looking at?

 

[Chucker]

Good call. So often people get caught up in the emotional side of buying something they really want, that they decide to take a risk and end up paying dearly for it. If your gut tells you it's wrong, it's probably wrong.

I was in the same boat when I bought my '09. It was Aug. '10 and I found I could get an '09 for barely more than a used bike. Glad I did it.

 

[MistahT]

First off, GS500e, my first bike too Excellent learner

Second, I found a local FZ6R, but would need tires soon. After adding money for tires, inspection, tags, title, etc, it was gonna be just about $500 off of buying a brand new FZ6R OTD.... so I went brand new. I really wanted that copper, but the raven has grown on me.

 

[MaximumHP]

What I've done in the past in that situation is go through my bank even though I may not need the loan. The bank in that case is more worried than you and check the title and lien to be sure everything is legit since that is their collateral. Then they cut the check straight to his bank, and his bank will refund to him what is left. Doesn't really cost me anything but time and some interest which can be minimal if you pay the loan off quickly. Sometimes the seller doesn't like it, but hey if you don't have a clean and clear title, you can't be picky and lose your leverage from that standpoint.

 

[MNGreg]

Glad to hear that you decided not to do it and that sounds like learned from Johns unfortunate experience regarding titles. Wants to rid self of bike but doesnt want to (basically) drop the price to cover an escrow service or so. Fishy

 

[DragonBlu]

If it smells walk away no matter how perfect the bike is. There are lots of nice bikes for sale with good private sellers. You did the right thing.

 

[mtheartist]

The same thing happened to me when I bought my 6r. Except I went through with it. In this case the owner lost some money. He posted the ad on CG for $4k. When I met with him and was ready to hand over the cash he tells me he has to pay off the loan at his credit union. So at that point I kept my money on hand and drove straight to the DMV, had him register it in his name to California, (out of state bike). Drove to a local branch and paid off his loan. Ended up paying $3600 via cashiers check for the payoff amount. Then drafted a final letter of sale and promise to hand over the title upon receipt and had it notarized. 2 weeks later I got the title. I guess I did get an honest seller or I may have been lucky but either way I got my bases covered with paper trail.

 

[anson650]

Good call. Walk away.
I spent six months getting a title out of a po. Now my first question is,"Do you have the title in hand?'.
Anson

 

[Riccochet]

I had to go through that with a car I bought. PO didn't have the title as it was still under loan. I met him at the DMV and had the registration transferred to me. Then went to the bank and had the loan transferred to me which I paid off. Whatever was left I handed him in cash. The title was sent to me. The process sucked, but it was a good deal on a car that I wanted.

 

[JSP]

Only way I will do a deal when a loan is present is when it is through a local credit union/bank that has title on hand.

I have done it twice now myself when I sold my last 2 bikes. My loans were through local CU. Title is kept on hand at the branch. We walk in together, buyer hands bank the cash, bank hands over title and we both sign it right there. No waiting, Done deal.

 

[DragonBlu]

Only way I will do a deal when a loan is present is when it is through a local credit union/bank that has title on hand.

I have done it twice now myself when I sold my last 2 bikes. My loans were through local CU. Title is kept on hand at the branch. We walk in together, buyer hands bank the cash, bank hands over title and we both sign it right there. No waiting, Done deal.

Old Jay's gettin smart now. Atta boy!

 

[MichaelInVenice]

Only way I will do a deal when a loan is present is when it is through a local credit union/bank that has title on hand.

I have done it twice now myself when I sold my last 2 bikes. My loans were through local CU. Title is kept on hand at the branch. We walk in together, buyer hands bank the cash, bank hands over title and we both sign it right there. No waiting, Done deal.

Yup. In this case it's a loan he got through the dealer, who sourced it to GE capital. It's in some central vault somewhere, and it will be sent to him when it's paid off. A dealer or bank has the resources to deal with these issues, by virtue of being "plugged in" to the registration/financing system having insurance for such things, etc. I'm not.

I don't work with a friendly credit union who would do this kind of transaction for me for free, so it has to be paid for.

Truth is, I do kinda trust him. He seems like a young guy who wasn't sure what he wanted, sunk a bunch of money into the wrong bike, and now is struggling to sell it so he can buy something else a year later. Pictures and description make it sound like he took really good care of it. He had one guy walk on him, I'm sure over the title issue regardless of what he said about the guy finding another bike. (Probably the guy did find another bike, after deciding that he didn't want to deal with this either.)

In any case, doesn't matter. It was my shot at owning a Bimmer. Always sort of liked them and when a good one popped up I thought I'd grab it. But not worth it under the circumstances. As a local BMW dealer once told me, "insurance on our bikes is cheap, because people who buy them tend to be adults and tend not to want to buy used parts on eBay." Same true with financing, he's trying to sell into a market that -- on the whole -- is probably a lot more sophisticated than he is.

Local dealer with the 2012 FZ6R seems to have sold it. Going to check with a couple more places tomorrow who are advertising them, and if not I'm likely to pull the trigger on a 2013. (Dealers advertising stock that they've already sold it another pet peeve, don't get me started.)