Second hand motorbike purchase

[KnightRider]

I am about to go and view a motorbike (privetely owned) which I am interested in buying and was just wondering what the protocol usually is.

Obviously it is common practice to leave a deposit to get the seller to take it off the market and hold the bike for you, but I was just wondering whether you guys usually draw up some form of draft contract between yourselves and the seller to protect myself in case the guy deceides that he wants to run off with my cash! Is it standard practice to take the registration document and service book to help avoid this?

In addition when you complete the sale with the full amount of money (which I will transfer electronically) would you also get some sort of receipt from the seller that he had recieved the full amount when you go to pick up the bike? I would also expect to sign something to say that I have taken receipt of the bike.

Not really done this before so am looking for any advice that you may be able to offer.


Jon

PS - used to work at a law firm (not as a lawyer) hence the focus on contracts and getting every t crossed and i dotted!

Bankers cheque.

[SoulKiss]

Originally Posted by Hockeynut

Bankers cheque.

Easily fakeable and used by conmen all the time, wouldnt touch them with a barge pole.

Leave a small deposit get reciept for deposit and cash on collection provided you (the buyer) are happy. Make sure you get a reciept for the full amount being paid and off you go on your dream machine!!!

It pays to check the mileage when you view and compare it to when you collect it to make sure it hasn't been used without consent too.

I always buy private and have never had a problem!

There is a form you can download off the internet. You have 2 copies, both signed by both parties and you each retain a copy. I don't have an electronic copy but still have the form at home which I can post later.

As for the, deposit, get a receipt, detailing everything about the bike, right down to condition and get it signed/dated.

Make sure the receipt for the deposit says everything you agreed upon, I think that's enough - price, what's coming with it and what's not, etc...

Take a smaller amount of cash than the seller is looking for, wave cash under sellers nose and make a one time low offer. If he says no, then walk away saying you have other bikes to see... Don't blink and don't look back.

Get an HPI check carried out as well to ensure no outstanding finance, not a class D write off etc

Its well worth the money if you are serious about buying it.

I advertised mine on ebay and got cash on collection. To be honest, I wouldn't have taken a deposit as I wanted it sold asap, and there was lots of interest. You also leave yourself open to him then accepting a higher or quicker offer.

I stated in the advert I wanted paid in cash.

[Paul the 6th]

i left a hundred quid deposit with the previous owner of my bike - he said he'd had loads of timewasters and just wanted to sell the bike. I checked the v5 to see if the vehicle address was the same as where I was viewing it, had a hpi check and agreed the price and which day I was going to collect. If you get the impression the seller is upto anything dodgy, they probably are... better to be a bit suspicious than to get stung and end up out of pocket.

I also only pay and accept cash when dealing in private vehicle sales. cheques and drafts etc - open to forgery and take days to clear. Cash is in your hand, keys in their hand all is well