Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

Buying interstate - need help

Discussion in 'General Motorcycling Discussion' at netrider.net.au started by Epyx, Nov 30, 2009.

  1. I'm buying a bike from a private seller in QLD. The bike is just over $20K, and I believe is end-of-lease. Seller seems quite genuine, but I just need a safe way for us both to transact.

    What's the best approach? So far, we have come up with the idea of loading it onto a transporter, then I verify it's onboard, then send the money, and then he authorises release of the goods.

    I'm really confused about whether this will actually work. I'm also confused about when I should ask for the rego documents, and whether I should be the one who pays out the finance.

    Can anyone give me some wise advice?

  2. Thanks but that doesn't really answer my questions. I'm transacting at a distance on a bike that is known to have money owing on it. I'm trying to work out how to transact safely - REVS check, transfer of ownership, wiring of money, transport of bike.
  3. I think you and the current owner should contact the finance institution from which the loan was taken. A letter from you to them about your intentions of buying the bike, and a letter from the owner on his intention to sell the bike.

    Most probably, the finance institution would ask you to pay the remaining balance on the bike directly to the bank. If the agreed price between you and the seller is more than the owing balance, then you pay the remaining amount to the current owner.
    (e.g: you buying the bike for $20,000..finance owing $10,000, so you pay $10,000 to the bank and $10,000 to the current owner)

    This eliminates all trouble you may encounter later if you just directly pay the owner and the owner decides not to pay the money back to the bank.

    Usually after the finance is cleared, you can request for a letter from the bank stating that all finance owing on this vehicle has been cleared off.

    If I am buying interstate, I would rather go there to complete the deal personally. Thats my opinion though. However genuine he may sound, end of the day, its money involved and he IS a stranger.

    Btw, have you done a QLD revs check on the vehicle already?
  4. Make a road trip of it, save up some pennies and get up there, and enjoy the new beast all the way home...?
  5. After much thought and weighing up of options, I've decided it's best if I fly up with a bank cheque. It's peace of mind, especially since it will take a week or more for the bike to get here on the transporter. I don't want to be wondering all that time about the unknown.

    For anyone reading this thread in future, I would give an on-paper recommendation to Bikenut for interstate transport. They regularly perform a kind of escrow service as part of their rate, and their rate is competitive to begin with. They hold the bike in their depot while you send the money. When the seller is happy, they release the goods.

    Thanks to all who responded.
  6. Good decision. :)

    Let us know of your road trip home.
  7. Hi Everyone! I'm in a similar situation to the OP but it's within NSW but a 5.5hr trip which I cannot make. The Seller will be sending me a hand-written receipt stating that I have paid the amount via cash bank deposit and he will then also send the Transfer of Ownership to me. Once received; I will contact the seller who will then go to Transport company, I will call company to confirm bike's there ready to go, I will then deposit funds into seller's account and once seller sees the funds he will then let the bike get sent.

    Does this seem safe enough? There's no money owing on the bike and everything that the owner has provided in terms of details has matched up with the RTA I purchased a vehicle history and a REVS certificate and they do seem genuine and I feel horrible for being so cynical.
  8. Seth its an easy 45min flight, costs $100 odd dollars.

    I'd rather fly up and buy it in person, handover payment on the spot, and take possession. Then arrange transport.
  9. ^I didn't realise that I can actually take a plane up there but I don't have any experience on bikes so if I fly up there I'd need to fly someone else for me, it'll just cost too much :(

    Has anyone ever bought interstate and never gotten their bike delivered?
  10. I might start up a business delivering bikes interstate....what say? :p
    or seth, you can pay for my airfare from melbourne to the state where the bike is, I ride the bike back to you..and you pay for my airfare back to melbourne again :p
  11. Seth, I'm probably too late with this advice but your arrangement seems risky to me. If it was me, I would have asked the seller to compromise and use a seller like Bikenut to act as the middleman. By sending the money first, you gave away all your leverage. Some people will abandon all their interest in the sale once they get their money.

    It's tricky trying to buy a motorbike at a distance. You need a trusted agent to impartially assess the condition of the bike, and then somehow you have to securely handover payment in exchange for the bike. This is easiest done with a bank cheque - electronic payment is harder to control.

    I've only seen one company advertise this is as a packaged service (which was for $299 - expensive IMO). I paid $500 all up for the privilege of flying up from Melbourne to Brisbane, trains, buses etc. That gave me much more comfort than trying to deal at a distance.

    In your case, the small price for a ticket would be easily justified, even if you know nothing about motorcycle mechanicals. Just the appearance check and secure handover would make it worthwhile.

    And of course, make sure you do a REVS check first :)
  12. Thanks mate! I didn't end up going with the sale. The bike was $4000 for a 2007 GPX250 with 8,800 k's so it was pretty good value, another bike was that same price here in Sydney but with 5,500 k's but it was swiped up pretty quickly.

    I would have had to pay $250 for delivery so I made an offer to another seller who had the same model GPX but in red instead of black with 2,300 k's on the clock for $4500 and they took it. So I got it delivered to my mechanic, inspected and I gave the cash myself.

    So I paid $250 extra for peace of mind, colour and less k's. IMO it just wasn't worth it. I mean I'm sure that those people were trustworthy and all but I couldn't see a reason why we couldn't do it Cash on Delivery as the company would not allow me to take it without paying up, he's concern was what happens if I don't pick it up, hence my offer of "I'll pay $500 into your account first" which will cover $250 to Sydney and $250 back to Wagga Wagga if I don't come for it. He wasn't happy with that so I said half so that's $2000 before I even see the bike and he still wasn't happy with that so I thought, don't worry about it, it ain't a bargain if I don't see the bike.
  13. I bought my bike from interstate with no problems --as long as you have some knowledge in contract law you can make it work out with very little hassle - also it depends on the seller - if it smells fishy - it could be - walk away from it

    plus with modern communications etc its quick and easy
  14. Just for your future reference, how could it have been done safely for both parties?
  15. I think you made a good decision. 6000km is a big difference, and that alone would have been worth $250 in my book! But more importantly, there was a lot of risk in the other transaction and the seller wasn't helping at all. You can't do business at a distance with a seller like that. I've had all sorts of good and bad deals with people, and the bad ones have a certain kind of "smell" to them - a good seller is calm, approachable, flexible and understanding. Both parties have to create trust to a certain degree.

    Since bikes and cars have registered "identities" (i.e. VIN number), one could probably create a "safe" transaction with a small contract document (the way people do with a house purchase). But that still requires some kind of agent in the middle.

  16. Firstly legally identify both parties by use of passport/licence and a legal paperwork showing address ( eg electricity account- better yet use the rego papers of the bike ) each of you have it signed off by a JP and exchange these details via modern communication or snail mail.

    Next is to write up a contract stating the goods, the consideration the terms and conditions and then the method of exchange.

    Not that hard really
  17. I think that is hard actually! A contract does create some legal rights in case the transaction goes bad. But it still doesn't solve the essential problem of getting the goods and the money to cross at the same time. *That's* where the real risk is. Plus in an interstate transaction, the bike still needs to be inspected/ridden by someone.
  18. I used bikenut back in August to get my 250 bike from Perth to Newman WA, I was happy with the way bikenut was organised getting the ball rolling,they use mansells in Perth to transport it. Unfortunately I couldnt fly up to Newman as planned for a few weeks,due to medical reasons, so a friend locked my bike away in a room. When I did get up there to check the bike it was damaged...the fairing was cracked and scrapped, both mirrors had black marks, the tank was scratched and the paint rubbed off the rear of bike (rope rub marks) plus scratches on both exhausts. bikenut asked mansells if it was damaged during transport and they of course said no. A man who saw the guy take it off the truck said my bike was in between two 4wd's on the truck and the driver flooded the engine trying to ride it off the truck. I got an email in November from bikenut saying because the damage was not reported within 7 days they couldnt make an insurance claim and that the damaged must of happened after the bike was dropped off,not during transport.

    There is no way my bike was damaged the way it was from my friend moving it 40 mtrs to the locked room (he has been riding bikes for years)

    So I am not happy with Bikenut nor Mansells.
  19. I hate to say this, but your friend let you down. The person receiving the bike had to check the bike against the condition report, which would have revealed the damage. A claim could have been made accordingly. I don't really see how you can fault Bikenut in these circumstances.