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Discussion Starter · #1 ·
So I've decided to put the old 9R up for sale out here in Hawaii. 25K miles, and it's not getting any younger! From what I've seen in the paper, it should go quick.

Here's the question. I've never sold a bike or car before. I've always done trade-ins. Once I get an ad in the paper, what do I need to worry about for the actual sale? How do I handle a bill of sale? What about the payment? Checks? Certified checks? Test rides? Sales tax?

Once I get the thing sold, then I can worry about the next new bike. ZX-10R? Z-1000? 999? :smile:
 

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you can find BILL OF SALE samples online and just edit it to meet your exact terms of sale. Get it maybe notarized when u sell it to have some proof who bought it.
I do test rides with cash in hand and a motorcycle endorsement on there lic otherwise . sign the bill of sale accept cash or OFFICIAL bank check nothing else. They will pay all sales tax when they go to register it at the DMV with the title in hand.
 

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Since I wouldn't buy a bike without riding it first I guess you should offer testrides.
But this should be the final decision step, so hand it over only when the buyer wants to have it and shows cash (not to everyone who just wants to ride once, you're not a shop and don't need to advertise for bikes in general).
Test ride should be done to check if everything is OK with the engine and the suspensions, and to check fuel and oil consumption.
Don't heat the engine up before, most people want to see how it fires up when it's cold.

Bring a buddy with you, just to make sure he doesn't bring a buddy himself, knocks you over and leaves with the bike and the money.
Takes his ID while he rides it.
 

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I advise against allowing ANY test rides; instead, a common (and safer) practice is to offer a buy-back of the bike within 15 minutes of the conclusion of the sale--provided the bike is not dropped, crashed, etc. by the new owner. A clause can be included in the bill of sale if the buyer so desires. Some states do not require a notarized bill of sale to transfer title (you'd have to check with your DMV), but if a buy-back clause is included, you'll definitely want to have one, complete with the date and time of the transaction. This way, the buyer can still be protected against any mechanical issues, while the seller is protected against the very real possibilities of crash/drop damage or theft.

When granted a test ride, the prospective buyer is not legally responsible for any damage to your motorcycle and, in the event of a mishap, can just walk away leaving you with a trashed bike. I purchased a 600 Hurricane from a guy who was in just such a position. He let a guy test ride the bike, the bike was crashed, and the guy just walked away. Prior to the crash, the owner was asking $2400; I bought it for $600.

As far as potential theft goes: a very good friend of mine had to sell his ZX-9 in order to buy a house. He felt he was taking all the necessary precautions--he arranged to meet all prospective buyers at a neutral, public location (a MacDonalds parking lot) and was determined not to allow any test rides. He met with a guy who said he really liked the bike but wanted to test ride it before buying. My buddy declined, but the guy pulled out $5,000 in cash--about 2/3 the asking price--to show that he was a serious buyer and offered up his car keys (to a new Altima) that my buddy could hold on to while the guy was on the bike (the guy did not turn over the cash).

30 minutes later, the guy is still gone, and my buddy calls the cops. Turns out, the guy was a known drug dealer, and the car belonged to one of his yuppie "clients" who let him take the car to go buy drugs (hence the $5K) and who promptly reported the car as stolen when the cops showed up looking for my buddy's bike.

Fortunately, the bike was insured, so my buddy came out OK and got his house, but the bike was never recovered.

I was asked by another friend to go along for his bike sale where the transaction took place in the bank parking lot with me sitting in the car with my friend's Glock 9mm beside me on the seat. Needless to say, THAT sale went off without a hitch. :smirk:

Arrange to meet all prospective buyers at a public location away from where you keep the bike--if you have them come to your house, instead of buying it then, they may decide to just come back later and steal it. Bike thieves will pose as buyers just to locate a particular bike and assess the bike's accessability. The parking lot of your bank is an excellent location--it's generally secure, you can have the bill of sale notarized, and deposit the money directly into your account so you're not walking around with it on your person.

So, that's it: arrange all meetings away from where you keep the bike and don't allow any test rides--offer a 15 minute buy-back instead. You may think it's overkill, but only until something goes wrong--and no legitimate buyer will have a problem with any of it. :waytogo:
 

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I disagree - DO NOT OFFER TEST RIDES. There are WAAAAY too many a$$holes who will just keep going. Not to mention that the ones that could wreck your baby and then refuse to pay. Or worse - blame the wreck on your bike and come after you for medical + 'Pain & Suffering'. If they balk, tell them a story about "my buddy did that, and...."


What you can and should do is offer to meet prospective buyers at a local dealerahip to have the bike inspected by the mechanic there. They pay the 1/2 hour labor charge for the inspection if they walk. You'll include it in the price if they buy. This serves a number of purposes: Firstly, it shows that you are absolutely above board. Secondly, it weeds out the tire kickers. Thirdly, it prevents potential thieves from knowing where you live so they can come back with the van after dark.

Don't laugh!!! There is/was a group of bike thieves around here that used that exact MO. They would search the WantAd Press for what they wanted, call from a pay phone to arrange a meeting, not show up to buy the bike, but rather to steal it while you were at work. I know this for a fact, because they got a riding buddy's 97 CBR900RR that way. AND his dirt bike, AND his father's bike (Valkyrie), AND the tools/stands that were in the garage. I suppose if they had a trailer hitch, they would have loaded it all in my buddy's trailer and carted that off too....


An online form for a Bill of Sale would be fine, and you are, of course, aware that you will also sign over your title to the buyer. Keep a copy if you can, or at least a record of the buyer's name/address & DL#. If they fail to register/insure the bike in their own name, the Police will come after YOU. It's a goodness to be able to tell them exactly what you did with it.

Scott :smile:
 

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Discussion Starter · #6 ·
Thanks for all the info guys!

Anyone know where I can find a free bill of sale? I've looked online and all I can find is forms you have to pay for.

I wasn't even THINKING of the theft aspect. I was more worried about people crashing on a test ride than just riding off. Meeting at a neutral place seems like a good idea.

I like the idea of going to the dealership to have them inspect the bike, I just don't want the guy looking at a new bike while he's there! :smile: If they have cash in hand and leave their car or something as collateral, then I'll be OK with a test ride I think. Hopefully my buyer will be another military guy, then I won't have to worry about those issues.
 

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Just don't show him tha Trackday abuse the bike took. :grin:



Seriously though probably one of the best taken care of ZX-9R I’ve seen. The only strike against it is he let me ride up down Monarch Pass one extra time to find my oil filler cap. :blush:
 

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[ QUOTE ]
BlueDragon said:Anyone know where I can find a free bill of sale? I've looked online and all I can find is forms you have to pay for.

[/ QUOTE ]

In Florida, the tag office has free generic bill of sale forms--they cover both vehicles and vessels. Check with the DMV tag agency there in Hawaii--they might also.

If not, you can just write one up yourself. All you really need is the date and something to the effect of: I, [insert your name] do hereby sell my [insert bike year, brand, model, and VIN #] to [insert name of seller] for the amount of [insert dollar amount]. It can be worthwhile to add that the vehicle is being sold "as is" without warranty of any kind, expressed or implied. Include any other qualifying statements you want--e.g. "in good mechanical condition", "owned solely by myself, free from all liens or claims", "the seller hereby assumes all liabilities for all subsequent actions involving the vehicle", etc.

The bill of sale is just there to provide the DMV with verification as to the legitimacy of the title transfer and as documentation of the selling price for tax purposes. It also offers you some protection against any future issues involving the bike and the sale. So, with that in mind, just write up what you feel to be appropriate. :waytogo:
 

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As for the Bill of Sale you can make one yourself one on the computer. Just make a form that states the terms of the sale and leave blanks to write in info such as numbers and signatures. You could write a bill of sale on blank note book paper, and as long as you get their signature, it would be legit. It would just look unprofessional.
 

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Discussion Starter · #10 ·
I just wanted to make sure I get all the legal-ese into the bill of sale for warranty and things.

I have tried to take good care of the bike. NO rust or corrosion on anything until I moved to Hawaii. Now it's starting to have some issues. That's one of the major reasons I'm selling it now. Another year or two in the Hawaiian air, and it's going to be a pile of junk. :crazy: I miss Colorado, where nothing ever rusts.

I'm sure the ride up and down Monarch Pass wouldn't count against the bike. Then again, what exactly did you do to my bike?? :smile:
 

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People like to test ride bikes before they buy. I know I'd never buy a bike I couldn't test ride.

How about this; lower your deductible to as low as you can during your time of sale. Say, $100. This will minimize your losses if a thief shows up instead of buyer, and you might possibly get more money from insurance than you would in your sale.

Just a thought.
 

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Discussion Starter · #13 ·
Well, they just changed our schedule and we're going back underwater for a couple weeks. Looks like I'll have to wait until we get back to sell the bike. Good thing I hadn't paid for the ad in the paper yet! Thanks for all the tips, and the Bill Of Sale for a piano (BitViper).

I'll let you guys know how things work out when I get back!
 
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