Should I Wait?

[captainlol]

I'm all prepped and ready to buy a bike for this season; I've already made offers to a few people. I'll be licensed for 1 year in May, and that's when insurance will be reasonable, around $1400 for a CBR125. Any time before that, and it jumps to about $3k.

I don't really have any place to store the bike before then, so should I just wait until May to buy the bike or buy it now in the offseason and possibly pay for storage somewhere?

[Flip]

yah you can do that... or ask a buddy who has a garage and put it there. but make sure you register it fast even without insurance. you dont want to wait that long if you're buying privately, you might want to avoid the new tax they're cooking which is HST... If you buy it private instead of you paying for one tax ( I forgot when this new tax kicks in), you pay 2 tax which is 13%.

[IXFe]

I'm all prepped and ready to buy a bike for this season; I've already made offers to a few people. I'll be licensed for 1 year in May, and that's when insurance will be reasonable, around $1400 for a CBR125. Any time before that, and it jumps to about $3k.

I don't really have any place to store the bike before then, so should I just wait until May to buy the bike or buy it now in the offseason and possibly pay for storage somewhere?

There's no time like the present to look around. If you do come across a bike you like, ask the seller to hold it for you.
I purchased my first bike privately in early March '08 (when there was plenty of snow on the ground) by giving the previous owner a nominal down-payment and having her safety certify and deliver the bike to me in April '08; the weekend after I completed my RTI course.

[HunGJaI]

yah you can do that... or ask a buddy who has a garage and put it there. but make sure you register it fast even without insurance. you dont want to wait that long if you're buying privately, you might want to avoid the new tax they're cooking which is HST... If you buy it private instead of you paying for one tax ( I forgot when this new tax kicks in), you pay 2 tax which is 13%.

From what I read somewhere...I believe the HST will not effect private sale...(GST only still)

the new tax kicks in Canada Day!!! (A gift from Canada on it's Bday)

[gixxer_flexx]

From what I read somewhere...I believe the HST will not effect private sale...(GST only still)

the new tax kicks in Canada Day!!! (A gift from Canada on it's Bday)

ya gift...right.

Personally i would buy it know and look around to get a buddy to hold it for you. I mean keep digging cuz maybe you may not find anything until then. But i wouldnt feel right giving someone money to hold on to it but thats just me.

[Lonelyrider]

but make sure you register it fast even without insurance

i believe you need to show valid insurance pink slip or insurance policy number in order to register it under your name.

[adri]

You can buy it now and transfer ownership immediately if you'd like to. My girlfriend just bought a 125R as well, she's also going to be waiting until May to get it insured. Here's what we did:

--> Found an owner we liked with a 125R we liked, agreed on a price, and agreed that it would be saftied and who would pay for the certification.

--> Offered seller a little extra cash if he was willing to leave the bike in his garage for the duration of the winter.

--> Immediately took the ownership and safety certification to the ministry of transportation and transfered ownership to her name.

Remember you can always get insurance simply for fire and theft only, not road liability, to cover you between now and May. Hope this helps.

[knowledge]

i believe you need to show valid insurance pink slip or insurance policy number in order to register it under your name.

Not true...you can register it as "unfit" if you're not ready/waiting some time before getting an insurance policy.

I would recommend leaving a deposit + contract (optional) so the seller can hold it for you.

[funrider]

My 2 cents based on one experience - if you want it, buy it outright and take possession right away. Deposits are iffy. I accepeted a deposit on a sale (all in writing) and the guy changed his mind at the 12th hour and in the meantime I turned away lots of interested buyers - I kept his deposit (lots of legal demands were made by him and his paralegal - pfft - still have the funds as I had to sell the bike for less so the deposit was an offset). Same with a seller - a deposit should secure the bike (as I did when I sold) but who knows....they may change their mind about selling to you (find some who will pay more, better terms etc.), return your funds and you start over again as I had to. Granted, this was only one experience selling (my buying experiences have been great as I dealt with ethical sellers). I went thru the same **** selling my car....the used market can be dodgy if you deal with unethical people.

Anything you do, get it in writing as black and white as possible and try to do the deal and get the bike registered SAP to you. If you keep it at the sellers place over the winter and it's in your name and he doesn't deliver you have a irontight case of theft.

Good Luck!

I'm all prepped and ready to buy a bike for this season; I've already made offers to a few people. I'll be licensed for 1 year in May, and that's when insurance will be reasonable, around $1400 for a CBR125. Any time before that, and it jumps to about $3k.

I don't really have any place to store the bike before then, so should I just wait until May to buy the bike or buy it now in the offseason and possibly pay for storage somewhere?

[Carriers]

Remember you can always get insurance simply for fire and theft only, not road liability, to cover you between now and May. Hope this helps.

Insurance companies will not do just fire and theft on motorcycles.

[ViperZ]

Insurance companies will not do just fire and theft on motorcycles.

TD lets you insure your bike, but make 7 payments instead of 12. Basically, you take your annual insurance rate and divide by 7, not 12... this way you kinda don't pay insurance in the winter, but still have it.