View Full Version : Anyone sold a bike privately?
Hi folks, thinking of selling my bike in a private sale, anybody out there got some experience of this? Specifically the money side of things, i'm a bit paranoid about being ripped off...
the_lone_wolf
14-09-09, 09:39 PM
Sold two of mine privately, three if you count the Daytona - Cash on collection for anything under £5k, otherwise banker's draft or same day money transfer...
Spiderman
14-09-09, 09:59 PM
If they bring cash its a wise idea to but yourself a bank note checking pen. You wouldn't want to be left with a pile of worthless paper. Any decent buy will understand that too.
Also, employ the "leave the full amount as a deposit if you want to test ride it" and the "if you crash it, you bought it" policy.
When i bought m first bike privately i had no insurance as i;d only just passed my test. Was honest with the seller about this but also said i'm not buying a bike without knowing it goes, so he took me pillion for a few blocks and we were both happy.
Tiger 55
15-09-09, 06:58 AM
I sold my last two bikes privately, having been a trade-in type before that, and dealt in cash both times. Always had a notion that a banker's draft is the proper way to do business for big money but I have no clue what one would even look like.
If you do take a cheque or draft just make sure that you can draw on the funds before you hand the bike over. This is different to having cleared by the way which is how those pesky Nigerians make their money.
But you won't be arranging to ship to Estonia via a 3rd party shipping agent in Liberia will you?
yup. loads
tell them cash only, and you want the full amout in your hand before they test ride, its handy to get the numberplate of the car they turn up in, i always make sure i have a mate or 2 with me just in case
proof of insurance is a good idea, although i never bother
i recon i have sold 15 bikes private (most off road) and i can normaly tell if you can trust them or not.
speedplay
15-09-09, 10:49 AM
Ive sold bikes before, Mostly enduros though.
I'm always wary of people asking where it is before they ask about the bike.
Dirt bikes are highly sought after by thieves so I usually meet them somewhere public away from my house and take a friend too just in case.
Owenski
15-09-09, 10:52 AM
took a bankers draft for the BMW
I totally thougth I'd been had but not to worry there is always a number for the bank for you to call and check that the amount did take place. They'll even tell you the branch that the draft was made from.
Dave20046
15-09-09, 10:54 AM
There are lots of scams involving bankers drafts - people seem to believe you can't cancel them....you can.
I've always Bought & paid with cash.
There are lots of scams involving bankers drafts - people seem to believe you can't cancel them....you can.
I've always Bought & paid with cash.
I bought my SV with a bankers draft. It's a bit like a cheque only the money comes out of your account when its issued, not when its cashed.
I bought my last car with cash - walking around with £8000 in my pocket was sort of fun :? of course I had to arrange in advance with the bank to withdraw that much cash.
Dave20046
15-09-09, 11:11 AM
I bought my SV with a bankers draft. It's a bit like a cheque only the money comes out of your account when its issued, not when its cashed.
I bought my last car with cash - walking around with £8000 in my pocket was sort of fun :? of course I had to arrange in advance with the bank to withdraw that much cash.
See I bank with HSBC and despite letting them know in advance the message never gets through and something always goes wrong. Either I'm missing an obscure document or letter or my signature's changed since I opened the account 12 years ago or my checkbooks been reported stolen. I refused to leave without any money trying to buiy the pointy...after 2 hours the bank manager surfaced and eventually approved the withdrawl. Complete faff around
Dave20046
15-09-09, 11:23 AM
Just cause I don't have a massive dog to threaten them with....
Just cause I don't have a massive dog to threaten them with....
only thing he'd threaten is the fridge :(
timwilky
15-09-09, 12:47 PM
I had arranged some years ago to withdraw 6 grand in readies from Alliance and Leicester. they told me to bring in some ID with me when I collected it.
Major problem. For some reason their system said Trevor Wilkinson. I had only had the account with them for 30 years. My mortgage was with them. I had had a personal loan from them every bit of paper I ever had from them used my Sunday name of Timothy. This damm woman was insistent I could not have my money because the account was not mine.
I eventually had to fill in a form to change the name on my account. Then she let me have my money.
I've never had a problem with Lloyds, just turned up with my passport and took out £9k onec. £2k the other day, and it took about 10 minutes.
I did phone up the helpline first for the £9k and said I was going to do that, and the woman just said kinda patronisingly "well sir, it's your money, we're not going to keep it in the account if you want to take it out!"
I've always bought and sold with cash.
When i bought bike paid using online banking. Guy gave me his sort code and account number and i just transfered money from my account into his.
Guy gave me his sort code and account number and i just transfered money from my account into his.
Yeh, its the bit where I give some bloke my account number and sort code that freaks me out...
Payment in cash, do the pens really work?
I know I can hold the documents until the cash is in the bank, but thats no guarantee either...
Well, I guess I'll have to march the buyer to the bank and pay it in while he waits...
Yeh, its the bit where I give some bloke my account number and sort code that freaks me out...
Payment in cash, do the pens really work?
I know I can hold the documents until the cash is in the bank, but thats no guarantee either...
Well, I guess I'll have to march the buyer to the bank and pay it in while he waits...
No different to paying by cheque as that would have all the same details on it. So if comfortable paying by cheque its virtually the same.
No different to paying by cheque as that would have all the same details on it. So if comfortable paying by cheque its virtually the same.
Hmmm, never thought of it like that!
Kilted Ginger
18-09-09, 11:39 AM
No different to paying by cheque as that would have all the same details on it. So if comfortable paying by cheque its virtually the same.
Hmmm, never thought of it like that!
Yes paying by cheque gives the seller your details, but philbo expressed concern at giving a stranger his bank account details to receive payment not make it, slightly different.:smt108
sorry, pedant.
If you are really concerned, ask them to accompany you to your local bank whiile you pay it in, that way you are both covered.
I once had a guy come back and say when he tried to pay th cash into the bank it was confiscated as fake. So i asked him for a letter from the bank to confirm this and the crime reference number from the police, I never heard from him again
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