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shady deal?

Discussion in 'General Motorcycling Discussion' started by mugen1, Jul 4, 2009.

  1. Hello all!

    Been in the market for a cruiser for some 3 months now. Picked one out for which i thought sounded like a good deal. Some points about the deal that made me feel uneasy, workmates have said not to get it just in case its a dodge..


    Went to this guys place to check out a v-star
    MY2005, 13000k, 3 owners including himself
    no service log history
    decent price from what i can see in the trading post and what not

    but the fact that the bikes had so many owners and no service history makes it a bit suspicious, no?

    we settled on a price, all is good until we got to the payment method.
    i told him i'd be giving him a bank cheque once he delivered the bike to my place in sydney (hes in penrith). he flat out said no, and that he wanted a cash transaction. so i've pretty much set things in pause for now, just thinking of the checks i should be making to at least to prevent me picking up a shady deal....

    i've REVS checked it
    inspected it in person, no real damage visible, only the drop on the RHS (scratches on mirrors)

    mates tell me i should be getting someone from NRMA or something to do an independent assessment of the bike.

    Are there any other ways to cover yourself as a buyer?

  2. Should be easy enogh to spot damage

    People buy and sell bikes all the timen and just factor in a major service in your price

    If REVS show as clear, and his licence equals rego papers pay him and enjoy
  3. I will only accept cash when I sell vehicles. Simply won't risk cheques.
  4. Me too. The money is in my account before I give up the goods, full stop. I just sold a bike and the guy did something he called a cash cheque, hadn't heard of it before but the money showed up straight away in my account.
  5. +1 and its at the sellers discretion how they want to be paid. Bank cheque or cash should make no difference to you.
  6. When you buy a vehicle, do you also pay in cash?
  7. He didn't accept a BANK cheque? I'd walk away.

    Assuming you mean a cheque made out by the bank, not you?
  8. It is a little known fact that bank cheques can be cancelled just
    like a regular cheque. Some people have a vehicle-buying scam going on
    this way. VACC (Victorian Automobile Chamber of Commerce)
    recommends that you do not release the vehicle until the bank cheque
    has cleared.

    Also there are some fake bank cheques going around.
  9. For me it's cash or nothing, to many dodgy people out there unfortunately.
  10. Yeah some PC parts stores have stopped accepting bank cheques or won't release goods until the cheque clears. If it all checks out then i don't see a problem, people lose service histories, not ideal for whatever you're trying to sell but it happens. You could find out where it was serviced and call them up as they would have the service details as well.
  11. You are both limiting yourself to only buying from numpties that will take a cheque, and also putting yourself at risk if ever you sell your bike and accept cheques as payment.
  12. So far 2 bikes and a car, yes direct deposit the whole amount.

    Edit: I think as a seller you have the right to expect that. It's up to the buyer to decide whether they want to buy or not, and as much as it depends on them being happy with the condition of the goods, it's also whether they are happy with the conditions of the sale, payment method being one. The seller is the one with the power.
  13. I won't accept personal cheques but I will accept a bank cheque (after a phone call to the issuing bank for confirmation). I've also paid all large sums to date using bank cheques, including my house.

    Edit: the last point is moot for a bank cheque since the bank would have to be insolvent to not honour it.
  14. to the OP, nothing wrong with 3 owners and 13,000km. havent you heard all the noobs going "oh i rode 3000km last year, i've just sold my 125cc and im about to buy an R1. im sooo ready for it!" ?

    be happy its low km, and you're not buying off me, it'll have 50,000km on it after a year :p

    and service history, well i do ALL the basic servicing myself, short of opening up the motor, its much much cheaper. i can write you out a service log, but its not gonna mean much coming from the owner haha.

    just check oil level, chain for wear/rust, forks for rust/pitting, there's plenty of little things you can look for, that give you a general idea if the owner cares for their bike or not, regardless of service history on paper.
  15. I'd like to see a house sale be concluded if the vendors demand a cash payment, particularly as most houses have a mortgage, and therefore a bank is involved.

    And for those who only deal in cash how do you go withdrawing amounts over say, $5,000? When I had to buy something using cash, I needed to give the bank advance warning that I'd be withdrawing more than $2,000 in cash.

    Personally, I cannot see the problem paying or getting paid via a bank cheque, particularly if it's from a main bank such as NAB or CBA. The buyer has to have the funds to begin with.

    As for bank cheques being cancelled as someone has said, could a source for this be provided, please?
  16. That's the point, if you can't trust a bank cheque...
  17. no service history. not interested!

    if you're still going to purchase this write out a detailed receipt that the both of you sign, date, include particulars.
  18. i'm still keen on the bike, so i guess as the buyer i dont have much power in these sort of situations, probably just have to organise the cash...

    but i still dont see a problem with a bank cheque if he has my bank details and driver license details right?
  19. Just withdraw the cash, hand it over and ride away :)
  20. give him the bank cheque, but sign a detailed receipt with rego/drivers licence, names and adresses on there, and make sure you confirm the details!

    then wait 3 days for your cheque to clear, and go pick up the bike :)

    last VTR i bought, the dude had never heard of a bank cheque :roll: i wasnt too put off, as i still had all his details and a receipt, not like he can run with my money.

    or yeah, just withdraw the money instead!