What is the proper procedure in purchasing a bike via private sale? | GTAMotorcycle.com

What is the proper procedure in purchasing a bike via private sale?

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KOSALKA

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Looking at buying a used 2014 Ninja 300 which is reasonably priced
Having my buddy that is a mechanic to take a look at it with me today

Before I purchase what are things I should be looking for/asking?
What is the smoothest way of doing this transaction, and how could I get it home(I have an M1)

Thanks

edit: I am located in the GTA
 
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well this is somewhat dependant on geography as well as the sellers attitude. in my experience the easiest way to do private sales is to take cash. if you want the vehicle after viewing and asking questions about maintenance etc. go with the seller to the mto, when you transfer the vehicle give him the funds at the same time right there, go back to his house put your new plates on your new bike and ride home... if he is unwilling to go with you or the distance to an mot office makes this unfeasible or the seller is unwilling to safety ahead of time it gets much more complicated.
 
with a 3 year old bike, and an inspection by a mechanic, there shouldn't be any fitness concerns
possible, maybe likely as it is a starters bike, that it may have a lien on it
so have a good look at the UVIP to see that the title is clear

as for questions/concerns
look for any signs of being dumped - scratches on bar ends, engine casings, exhaust
ask for maintenance records- receipts etc.
consider the storage situation, garaged? sat in a parking lot for 3 winters?
and consider the attitude and presentation of the seller
if he asks you to view it in a Timmies parking lot, keep on searching
 
KOSALKA said:
Looking at buying a used 2014 Ninja 300 which is reasonably priced
Having my buddy that is a mechanic to take a look at it with me today

Before I purchase what are things I should be looking for/asking?
What is the smoothest way of doing this transaction, and how could I get it home(I have an M1)

Thanks

edit: I am located in the GTA
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Go look at the bike. Ask a lot of questions and take it for a test ride. Once you agree on a price, ask for the Used Vehicle Sellers Package that the MTO provides. If he doesn't have it, tell him you need it to buy the bike, and don't buy without it. Once you have the package and the back of the ownership filled out, call your insurance company and give them the bike's VIN. Get them to email some pink slips to you. Go to the ministry with the proof of insurance and the rest of the paperwork, change the ownership and get plates. Go get your bike and ride it home.
 
I always get a receipt for around $500. Then i just go get the ownership in my name. I tell them i have to fix it before i register it. Taxes are on the $500. Then i come back 2 weeks later and register it..
Worked everytime so far.

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...or you could have paid or did the repairs yourself before transferring ownership of an as is bike... ;)


If buying, make sure you get the UVIP, either from the seller or get it yourself from the MTO($20) BEFORE paying for the bike. Mechanic can check out condition, etc and you work out a price with the seller. You will need a safety certificate to get plates and put it on the road. So either negotiate with the seller to have it done or get it yourself. As for transporting the bike, the seller could drop it off and you give them a ride back or you arrange to trailer/truck it yourself.
 
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Everyone here is correct, I pm'd you pretty much the same thing, and the link to my ninja 300 im selling.
Cheers
 
I think E-interac is the best way to send semi-large sums these days. There is an email paper trail and password protection to stipulate consent agreement.

Money orders & certified cheques costs money unless your retired or ur bank loves you. Withdrawing large amounts just gets all the tellers antsy and a whole lot of suspicious looks.

Having the bike certified already is a peace of mind.

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Unfortunately wasn't the case, 30+ years with them since I was a kid, have CCs,VIP account, RRSPs and direct investment...3 people came to talk with me before relinquishing 6k.

But they do love calling/emailing me to offer LOC, insurance, limit increases and identity theft protection like no tomorrow....but had a hard time letting go of my money ROFL

Yes, to the stubborn fellas that refuse to tackle that mountain called "learning" using age as an excuse...(I won't say OLD, cuz if my mom can use a freakin cellphone I don't see how my dad can't) bring cash!

I take it back, teaching my mom how to accept an e-transfer would be like doing your own oral surgery with a tiny mirror.

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Most buyers only want cash, too much risk for other methods, who knows what someone is pulling on you with fake cashiers cheques, way harder to fake cash, which is very rare.

My last bike I showed up with $5k in $20's because that's all the stupid ATMs give and it was after hours.
 
Might be your bank or history or who in the bank you deal with. No one bats an eye when pulling 10k out. IIRC, had do an extra step depositing it through a regular teller.
 
Last bike I purchased, we met at my bank and they transferred the funds to the seller. He rode the bike back to my house and then we transfered the plates etc at my house. I then drove him home in my car.

Great experience, I had given him a down payment so he had the safety done and the lien removed from the bike and a letter confirming that it was now clear from the Financial institution.
 
I've never found an ATM that would cough up 5K in Canada. All i've ever seen are preset to dispense under 1k so you don't get mugged for all your savings. Tellers will often question when your pulling 10k plus out, just because they are trying to ensure its ligit. They aren't nosey, they just want to make sure your not getting scammed in the parking lot.
 
crankcall said:
I've never found an ATM that would cough up 5K in Canada. All i've ever seen are preset to dispense under 1k so you don't get mugged for all your savings
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The ATM will do it if your card is programmed for the allowance.

Limits also apply for debit transactions, but are also easily overridden on request. I bought our last car before our Volt via debit, and it was >$10K. Just call the bank ahead of time, ask for your transaction limit to be increased (they will wisely suggest temporarily), and they then know about the impending transaction that way as well ahead of time - sometimes oddly high transactions will trigger security on the banks end, so this way the eyeballs that end up looking at it see it was planned.

As for cash transactions, I've found that hit or miss. Scotiabank freaked out when I discussed a $10K cash transaction, going so far as telling me they'd be unwilling to do it, but when push came to shove and I ended up there with the buyer (we were selling an RV) it was without much drama. I have had a few large cash transactions over the years with TD and it was mostly drama free but they did require a supervisor override or something at the teller desk, and they wanted to verify my identity - understandable.
 
crankcall said:
I've never found an ATM that would cough up 5K in Canada. All i've ever seen are preset to dispense under 1k so you don't get mugged for all your savings. Tellers will often question when your pulling 10k plus out, just because they are trying to ensure its ligit. They aren't nosey, they just want to make sure your not getting scammed in the parking lot.[/

There is a federal requirement that any cash transaction of $10K or larger must be reported to the anti money laundering police. There is a form to be filled out, and one of the questions is" What is the cash for?"
The teller isn't being "nosy", just doing their job.

Not all ATMs are equal.
I live in a small town and the TD ATM is limited to $1000 per withdrawal because there is a limited amount of cash in the machine.
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bitzz said:
I live in a small town and the TD ATM is limited to $1000 per withdrawal because there is a limited amount of cash in the machine.
Click to expand...

No, it's not. It's your card.

Without posting too many sensitive details, I have a friend who works for the company that does the technical service/repairs on all ATM's across the province. He knows his stuff. I just texted him on the topic.

Get your card reprogrammed to a higher limit. It's not the machine.
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