My bike transaction: Opinions, please - Chicagoland Sportbikes
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post #1 of 65 (permalink) Old 09-20-2004, 01:47 PM
Slowass
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My bike transaction: Opinions, please

I've spoken about my difficulties in selling my bike.

The buyer, who's been pursuing my bike since June is having great difficulties getting a check from a guy who's buying her horse. HIS money is coming from a trust fund, which is very complicated and time-consuming. The check for my bike is coming, but it's taking some time...

Well, she has agreed to make my bike payments for me until she gets a check for her horse. I want to go with this buyer because 1) It's late in the season and I haven't gotten a call on my bike in a month and 2) She offered me the highest price.

I'm sure this is my last chance to sell this bike.

She has agreed to take ONLY PRINCIPAL amounts off the $6800 price of the bike payments she's making. She has agreed to show proof of insurance, BUT SHE WANTS POSESSION OF THE BIKE.

We've drawn up a written agreement. In it, her payments are nonrefundable, should she choose to back out of the agreement. My only bargain is not to entertain other buyers' offers, but I have to relinquish the motorcycle to her.

What do you think?

And I have not hired a lawyer to go over this agreement (no money ) but it is going to be signed and witnessed.
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post #2 of 65 (permalink) Old 09-20-2004, 01:49 PM
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humm.. seems shifty.. what if she disappers? you have no collateral...

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post #3 of 65 (permalink) Old 09-20-2004, 01:52 PM
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I wouldn't do it. You're not a bank.

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post #4 of 65 (permalink) Old 09-20-2004, 01:52 PM
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Re: My bike transaction: Opinions, please

Quote:
Originally posted by Slowass
BUT SHE WANTS POSESSION OF THE BIKE.
NO WAY.

If she wants posession of the bike, she's gotta pay the whole amount.

If she wants to send you partial payment - send her a partial bike. Start off with the keychain, then send her the wheel caps, and maybe one of the mirrors...

I wouldn't do it. I know you're desperate to sell but this is the perfect opportunity for this new buyer to screw you.

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post #5 of 65 (permalink) Old 09-20-2004, 01:53 PM
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you basically wrote a purchase option for her and she kept re-newing it w/ every pmt....don't give her the bike until she can complete the transaction. If she wants it bad enough she'll come up w/ the cash.

Look, I can appreciate this. I was young too, I felt just like you. Hated authority, hated all my bosses, thought they were full of shit. Look, it's like they say, if you're not a rebel by the age of 20, you got no heart, but if you haven't turned establishment by 30, you've got no brains. Because there are no story-book romances, no fairy-tale endings. So before you run out and change the world, ask yourself, "What do you really want?"
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post #6 of 65 (permalink) Old 09-20-2004, 01:54 PM
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wouldn't do it, unless ya knew the person real well. As for not being able to find buyers, have ya tried Ebay? I'm having trouble with a 100th anniversary Harley being hard to sell...
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post #7 of 65 (permalink) Old 09-20-2004, 01:54 PM
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What do I think? HELL NO. Period.

If she has cash - or access to cash - tell her ass to go get a loan and make these wonderful payments to the bank. You (last I checked) are not a bank. You don't employ big scary bill collectors with baseball bats and big cars with cement mix in the trunk - therefore you better damn well not let her have that bike til you're paid in FULL.

I'm all for hardluck stories - but this is just silly. You're smarter than this. Tell her to take her story to the bank/credit union/bookie down the street and get the cash.

Agreement or not you'll have no good way to get your $$ back if she splits or defaults. It'd cost you more than the price of the bike in lawyer fees even if you could.

Here's the happy side - your bike will sell. Eventually. To someone. Perhaps you could drop the price a couple of hundo in exchange for this lady getting you the money up front. That might be worth her while?

At the end of the day...please please please don't let her take the bike and make payments to you. I'd hate to post "I told you so" in the thread about you getting screwed over the whole thing.

G'luck!

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post #8 of 65 (permalink) Old 09-20-2004, 01:58 PM
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If I back out, I'm so afraid that she'll get pissed and decide not to do this transaction at all.

Can any of you creative problem solvers think of a compromise?
post #9 of 65 (permalink) Old 09-20-2004, 01:59 PM
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Don't Do it Rachel! The bike will sell, don't give her the bike unless you have all the money in your pocket.
post #10 of 65 (permalink) Old 09-20-2004, 02:01 PM
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I would absolutely not part with the bike until paid in full.

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post #11 of 65 (permalink) Old 09-20-2004, 02:04 PM
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Well...considering she's been yanking your chain all summer over this thing - I think it's safe to say that she's dreaming. If she could have paid you she would have. Instead she's just been wasting your time. Sucks but it's true.

Tell her to put up or shut up. Give her two weeks to arrange the fees or cutoff discussions with her. You are the one that currently owns the bike. You don't have to make any concessions. She wants it...she is the one that has to jump through the hoops to get it.

Done and done.

(oh yeah, and for crying out loud put it on eBay already. Cycletrader is worthless)

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post #12 of 65 (permalink) Old 09-20-2004, 02:04 PM
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Quote:
Originally posted by bwa
wouldn't do it, unless ya knew the person real well. As for not being able to find buyers, have ya tried Ebay? I'm having trouble with a 100th anniversary Harley being hard to sell...
I think the problem is that it's been in the Cycletrader for 3 months now, and anyone following it thinks that it's an old ad, it probably is already a sold bike, and so they don't bother.

And don't I have to give Ebay a bunch of money if I sell it there?
post #13 of 65 (permalink) Old 09-20-2004, 02:04 PM
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I'm glad everyone is giving her the same advise I did.

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post #14 of 65 (permalink) Old 09-20-2004, 02:05 PM
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Dotn you dare do that deal or I'll come up there and be-rate you verbally in person.

seriously, youre gonna get screwed on this. First off stop being so nice, this isn't personal its business, tell her she needs to go get a loan if she wants it, if a bank isn't gonna give her a loan then there is no way in hell you should. if she cant get a loan tell her to pound sand.




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post #15 of 65 (permalink) Old 09-20-2004, 02:06 PM
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Quote:
Originally posted by Slowass
I think the problem is that it's been in the Cycletrader for 3 months now, and anyone following it thinks that it's an old ad, it probably is already a sold bike, and so they don't bother.

And don't I have to give Ebay a bunch of money if I sell it there?
lol there is ways around it. One being setting and unreal limit. If it gets reached, since it's way more than ya wanted i think paying little to ebay won't be a problem. If it doesn't reach it,the transaction is not completed on ebay and u owe them no fees. Contact the person with the highest bid. If they don't wanna buy it for what they bid, move down the list.
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post #16 of 65 (permalink) Old 09-20-2004, 02:07 PM
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Quote:
Originally posted by Underdog
Cycletrader is worthless)
OK, I have put up 2, probably 3 threads up asking people where the best place was to sell a bike, and NO ONE offered this feedback or anything. Where was this 2 months ago???
post #17 of 65 (permalink) Old 09-20-2004, 02:08 PM
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Sounds shady. But to me, time is money.

Think about it this way.

Would you rather have her buy your HD for $6800, but play games with you like that?

Or have someone else pay you $6500 up front RIGHT NOW?

Cost of opportunity = $300
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post #18 of 65 (permalink) Old 09-20-2004, 02:10 PM
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Quote:
Originally posted by Rev
Or have someone else pay you $6500 up front RIGHT NOW?
I had this offer, and it came and went.
post #19 of 65 (permalink) Old 09-20-2004, 02:14 PM
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If I remember correctly, I listed my bike on eBay and it cost me like $35 in fees to get it listed. I set my reserve at a nice high price (nothing unrealistic though) and figured if it sold I'd be able to pay the % to eBay and still make out like a bandit. Instead, I got a ton of offers locally from people that wanted to come see it. I ended up selling to a guy for my reserve price in person and just cancelled my auction. No fees paid. No messing around with shipping etc. (btw - make sure you mention in the add that the buyer is responsible for ALL shipping fees and arrangements). No muss no fuss.

Oh yeah, and I didn't tell you that C-trader sucked because I privately enjoy watching people make silly decisions.

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post #20 of 65 (permalink) Old 09-20-2004, 02:14 PM
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In that case, it's pretty much up to the person you're selling.

But no way IN HELL I would let her take posession of the bike under those terms.

Unless you're truly desperate to sell.
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post #21 of 65 (permalink) Old 09-20-2004, 02:15 PM
 
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Quote:
Originally posted by Slowass
If I back out, I'm so afraid that she'll get pissed and decide not to do this transaction at all.

Can any of you creative problem solvers think of a compromise?
So let her back out...so what? She's been dicking around for months, you don't need that kinda hassle.

There are NO creative ways around it.......give up the bike to the first person who has CASH....PERIOD!
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post #22 of 65 (permalink) Old 09-20-2004, 02:15 PM
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post #23 of 65 (permalink) Old 09-20-2004, 02:24 PM
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The question I would ask is why does she want your bike so bad. Maybe she's playin' you. I would think there are quite a few Sportsters for sale everywhere.

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post #24 of 65 (permalink) Old 09-20-2004, 02:28 PM
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The bike needs to go out infront of someones business or house so it can be seen by people to buy.

Ask Ken if you can put it infront of his business or maybe somebody will offer for a couple weeks or something. Just make sure its someone you can trust to bring the bike in after hours and put it out in the morning.

You asked for ideas thats one idea I have.

Or, you can sell the bike to me and I'll flat track race the fucker
post #25 of 65 (permalink) Old 09-20-2004, 02:29 PM
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I'd relist it on cycletrader, hope it sells. Tell her you are doing this. If it sells, return any money she paid. Sob stories don't buy bikes. Cash buys bikes.

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post #26 of 65 (permalink) Old 09-20-2004, 02:30 PM
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Dear Laurie,

I have posted this situation on an online motorcycle community, and not one person on the board thinks it is a good idea for me to hand over possession of my motorcycle without getting the payment first. The fact is, unlike a bank, I cannot afford to employ a lawyer or bill collector to try and get my bike back if something happens. In order to enforce the agreement, I'd have to employ an attorney and a repossession agency, and I can't afford that. I know you have been screwed by your horseshoer, and are able to hire an attorney to fix this mess, but I can't do that.

I hope you understand that it is nothing personal, but like I said, I can't afford to go through what you are going through with your mare.

I will just continue making the payments as usual myself. I will take care of everything. I really hope that you would go to the bank and get a loan for the bike so you can purchase it outright. That way you can just pay yourself back when you get the money for the mare.

I'm really sorry about your horseshoer screwing you like that. I know you're not trying to screw me over, but I have to make sure.

I haven't gotten a call in 3 weeks from anyone wanting to look at the bike, so I'm sure you have a good chance of being able to get a loan in that time.

Please don't take any of this personally. You've been through this yourself, and by someone with whom you've done business for many years, so I know that you understand where I'm coming from.

I'm also sorry to communicate this to you over e-mail, but I'm at work and like I said, they can't hear me e-mailing. LOL

Sincerely,
Rachel
post #27 of 65 (permalink) Old 09-20-2004, 02:30 PM
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Tell me where this chick lives and I'll go stick my finger in her eye
post #28 of 65 (permalink) Old 09-20-2004, 02:33 PM
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Quote:
Originally posted by Grasshopper
Or, you can sell the bike to me and I'll flat track race the fucker
It's too pretty for that!
post #29 of 65 (permalink) Old 09-20-2004, 02:35 PM
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Quote:
Originally posted by Slowass
Dear Laurie,



Sincerely,
Rachel
Well said!
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post #30 of 65 (permalink) Old 09-20-2004, 02:36 PM
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Quote:
Originally posted by Grasshopper
Tell me where this chick lives and I'll go stick my finger in her eye


I put that in the contract.
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