what the heck? take payments when selling my bike? - TwoWheelForum: Motorcycle and Sportbike forums
 
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post #1 of 17 (permalink) Old 07-18-2007, 10:29 PM Thread Starter
 
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what the heck? take payments when selling my bike?

I listed my bike for sale on craigslist as a friend of mine is selling is 03 RR and i'd like to pick it up.

some guy emailed me and asked if i would stay as the lean(sic) holder on the bike if he paid me $500 deposit and $250 every 2 weeks.

I told him to go pound salt. would anyone actually consider this? I wouldnt take this offer from my best friend.
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post #2 of 17 (permalink) Old 07-18-2007, 10:31 PM
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post #3 of 17 (permalink) Old 07-18-2007, 10:32 PM
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post #4 of 17 (permalink) Old 07-18-2007, 10:32 PM
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post #5 of 17 (permalink) Old 07-18-2007, 10:36 PM
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About 3/4 of the offers I had on my old bike were 'payments.' I responded to all of them the same way, "sure, I'll keep the title and the bike until you pay it off... don't mind the extra few thousand miles I put on it either..." None of them ever responded.
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post #6 of 17 (permalink) Old 07-18-2007, 10:53 PM
 
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A good friend of mine actually let me do this when I bought my bike from him. I also let a friend do this when he bought my truck. Never again. Total pain in the ass.



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post #7 of 17 (permalink) Old 07-18-2007, 11:33 PM
 
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....I'm doing it now. The guy who bought the SV works with me and is paying me $500 every other week (when we get payed) 3 times. I'm much bigger than him and he won't have the title until it's all payed off. I feel relatively secure.


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post #8 of 17 (permalink) Old 07-18-2007, 11:56 PM
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This would be one thing with a co-worker, family, or friend. But not for just any **** off the internet.




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post #9 of 17 (permalink) Old 07-19-2007, 12:02 AM
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This would be one thing with a co-worker, family, or friend. But not for just any **** off the internet.
but but but GM...


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post #10 of 17 (permalink) Old 07-19-2007, 01:11 AM
 
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This would be one thing with a co-worker, family, or friend. But not for just any **** off the internet.
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post #11 of 17 (permalink) Old 07-19-2007, 05:34 AM
 
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This would be one thing with a co-worker, family, or friend. But not for just any **** off the internet.

Not even from family or co-workers. I won't sell anything to anyone I know. I don't want to hear all the if something breaks or is not quite right. HELL NO would I take payments.
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post #12 of 17 (permalink) Old 07-19-2007, 05:54 AM
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I learned that lesson the hard way at the tender age of 15 when I sold my dirt bike for payments. Dude moved and never heard from him again. No more payment plans in my future for that stuff.
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post #13 of 17 (permalink) Old 07-19-2007, 07:33 AM
 
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I dread selling a car or bike! The last one I sold was my truck back in like 2000 or so. I had a bunch of idiots come that just wanted to drive it. Finally some kid came and asked if he could make payments on the truck. I took payments but he did not get the truck until I was paid in full. He paid for a while and then took out a loan for the rest. It sucked but I wanted it gone and nobody else was serious. After that i just traded my cars in and let the dealer screw me. LOL
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post #14 of 17 (permalink) Old 07-19-2007, 07:35 AM
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Never! Not for a stranger, friend, family, coworker, no one. It's too risky all around. With a stranger, you risk never seeing your money or item again. With a friends/family/coworkers, you risk ruining a relationship over money.

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post #15 of 17 (permalink) Old 07-19-2007, 07:39 AM
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Not even from family or co-workers. I won't sell anything to anyone I know. I don't want to hear all the if something breaks or is not quite right. HELL NO would I take payments.
I agree, when I sold my SV, I sold it to someone who I will never see again. I have no idea where it's at now. If you live or go through Chattanooga, you may see it.

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post #16 of 17 (permalink) Old 07-19-2007, 11:56 AM
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Like I said... I'd take payments for everything... but I retain full ownership until the final payment is made. Funny how nobody seems to want this deal.
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post #17 of 17 (permalink) Old 07-19-2007, 02:03 PM
 
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A guy I used to work with had a older ninja that he was selling for $4000. he had a kid that wanted to buy it... he had $1200 cash and my friend said that he would take the 1200 and keep the bike until the rest was paid off.... he had a contract written up stating that the payments of $250 were to be deposited into his bank acct. every other friday before the bank closed. If any payments were late there was a $50 late payment fee... ... he ended up getting like an extra $50 every other week because the guy never paid on time so he ended up getting like 3350 for the bike.... once it was paid off he gave the kid the keys and the kid dumped the bike in less then a week......
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