CB500X Dilema | GTAMotorcycle.com

CB500X Dilema

ScorpionT16

Well-known member
I'm looking at getting a CB500X and am in the process of selling my current bike (Suzuki SV650), I just have some questions as this is my first time as a seller.

1. When I sell the SV, I'll have a UVIP and Safety Certificate for the buyer, do I just sign the ownership, collect cash, hand bike over, done deal?

2. I have two options for a CB500X now, buying a used one or a new. I know I want the 2016+ models because of the bike redesign/refresh that year. I have found a deal from someone who has a used one with 1,700km only, like new with about $500-600 of accessories on it, he came down to $5.5k (around $6.2k Total with taxes if he doesn't show a lower amount on the bill of sale). Thing is the bike has a lien on it, he is OK with going to the bank and sorting that out on a weekday. What are the steps, pre-cautions to take here?

3. Alternatively I got two quotes for a brand new one, one is a dealer in Sudbury for $7.7k OTD, all included, another across the street from work for $8k OTD. Is the drive to Sudbury worth the savings, for an extra $1.8k is it worth getting new or the used in this case?

Thanks for the advise and help in advance!
 
1. Yes, all done. Keep the right hand side of the ownership though as that's the plate portion and belongs to you and your plate. You'll need this if you want to attach the plate on your next bike, you can pull a lost ownership at the MTO but it is $32 so might as well keep it. I also like to write my own bill of sale and keep a copy for my records so I can prove the bike was no longer mine as of that day if the buyer does something dumb with the bike before transferring the ownership.

2. If you and him go to the bank together and have the lien paid off and removed you don't have any issues. Go with him though don't just take his word for it he's going. Get a copy of the lien release letter from the bank though again for your records for the future.

3. I don't know where you live but I'm not driving to Sudbury to save $300. Having the dealer you buy from across the street from your work is pretty handy. I would personally buy the used one though.
 
1. Yes, all done. Keep the right hand side of the ownership though as that's the plate portion and belongs to you and your plate. You'll need this if you want to attach the plate on your next bike, you can pull a lost ownership at the MTO but it is $32 so might as well keep it. I also like to write my own bill of sale and keep a copy for my records so I can prove the bike was no longer mine as of that day if the buyer does something dumb with the bike before transferring the ownership.

2. If you and him go to the bank together and have the lien paid off and removed you don't have any issues. Go with him though don't just take his word for it he's going. Get a copy of the lien release letter from the bank though again for your records for the future.

3. I don't know where you live but I'm not driving to Sudbury to save $300. Having the dealer you buy from across the street from your work is pretty handy. I would personally buy the used one though.

+1 with blackcamaro
 
You're better off going with them to make sure they transfer the ownership if you can.
Some people have outstanding tickets and other issues, and therefore might not ever sign the ownership over.

The cops or tow yard etc. will then come looking for you and not them if there are issues later on.

At the very least, send the MTO some notification that the vehicle has been sold and to whom.
 
+1.5 with blackcamaro

I'd never buy a bike with a lien or one showing on the UVIP.

I'd buy used. I've bought used bikes the last 3 decades. Never an issue with liens or ownership transfer. Fortunately none had liens before the UVIP started.
 
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Hello there future fellow cb500x'er

1. Already answered

2. might be a better idea/price for the used one...what year is it? i bought a new 2013 in 2015 for 5.5k before fees and taxes and it came up to 6.2k so i'd def support this deal as long as lien gets cleared

3. i dealt with northstar recreation for my bike, bought it from them in jan, put deposit down in feb and signed paperwork too (at bike show when they came down)
they were going to delivery it in barrie for me along with other bikes...but they ended up having some errands to run in brampton so i got lucky.
now for a difference of $300 its not necessarily worth it as sudbury will be $hitty conditions prolly till may so you lose out on some riding. if youre willing to wait, or they will deliver near by (they won't know until close to the date) then $300 saved is $300 in mods.

so overall i'd go used, if lien can get cleared.
 
1. Yes, all done. Keep the right hand side of the ownership though as that's the plate portion and belongs to you and your plate. You'll need this if you want to attach the plate on your next bike, you can pull a lost ownership at the MTO but it is $32 so might as well keep it. I also like to write my own bill of sale and keep a copy for my records so I can prove the bike was no longer mine as of that day if the buyer does something dumb with the bike before transferring the ownership.

2. If you and him go to the bank together and have the lien paid off and removed you don't have any issues. Go with him though don't just take his word for it he's going. Get a copy of the lien release letter from the bank though again for your records for the future.

3. I don't know where you live but I'm not driving to Sudbury to save $300. Having the dealer you buy from across the street from your work is pretty handy. I would personally buy the used one though.

Thanks, very helpful!

I told the used bike owner that I would go to the bank with him and get proof right away all is clear, he is ok with that option. How does it work at the bank, pay him, he pays bank, or I pay the bank and give him the remainder not on the lien? How long till it shows on the UVIP?

Have you seen this ad? 2014 model with 20K, few accessories and two sets of tires for $4600 OBO ....

https://www.kijiji.ca/v-street-crui...0x/1336091349?enableSearchNavigationFlag=true

I did see this, though I'm not a fan of the 2014 Models, Honda made some nice aesthetic and minor upgrades which I do like and feel its worth the extra money
+1.5 with blackcamaro

I'd never buy a bike with a lien or one showing on the UVIP.

I'd buy used. I've bought used bikes the last 3 decades. Never an issue with liens or ownership transfer. Fortunately none had liens before the UVIP started.

This would be my second bike, I do prefer buying used over new if everything makes sense. Though, how many bikes that are 2016+ and selling used be all clear of liens, If I go with the seller to the bank and get the paperwork showing everything is paid Lien wise on the spot, documented, isn't this good enough?

Hello there future fellow cb500x'er

1. Already answered

2. might be a better idea/price for the used one...what year is it? i bought a new 2013 in 2015 for 5.5k before fees and taxes and it came up to 6.2k so i'd def support this deal as long as lien gets cleared

3. i dealt with northstar recreation for my bike, bought it from them in jan, put deposit down in feb and signed paperwork too (at bike show when they came down)
they were going to delivery it in barrie for me along with other bikes...but they ended up having some errands to run in brampton so i got lucky.
now for a difference of $300 its not necessarily worth it as sudbury will be $hitty conditions prolly till may so you lose out on some riding. if youre willing to wait, or they will deliver near by (they won't know until close to the date) then $300 saved is $300 in mods.

so overall i'd go used, if lien can get cleared.

The used bike is a 2016 Version with the LED headlights, he's added the Honda center stand, larger shield, moto-tech engine guards, a givi rack and a 25L bag, all for $5.5K with just 1,400Km. He bought it to do a trip with he's brother last year, he's brother broke he's arm in the winter so cancelled it and I assume doesn't want to pay monthly payments for something he isn't interested in anymore. I'm hoping to at-least see it and judge he's character, go to the bank and get things done legally and right. It may be a deal, though I don't get attached till everything has the green light

Ill call Northstar and see what they have, never heard of them till now, thanks. Yeh, the $300 for the drive up doesn't seem worth it atm, I have a truck and am getting ramps to load/unload bikes, so sudbury or here wouldn't be an issue logistics wise, just cost (Fuel, time, etc...)
 
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Thanks, very helpful!

I told the used bike owner that I would go to the bank with him and get proof right away all is clear, he is ok with that option. How does it work at the bank, pay him, he pays bank, or I pay the bank and give him the remainder not on the lien? How long till it shows on the UVIP?

Either way you suggested will work. I'd probably go with you pay the bank and him the difference with two separate drafts or cash. Honestly I don't know the answer on the UVIP question because I don't generally deal with UVIP's. All the financial institutions take a different amount of time to actually remove the lien it generally isn't instant. If you did a real lien search anywhere from a day or two to a couple weeks, UVIP I'd guess sometime in 30 days because I don't believe that system updates in real time. You want a lien release letter incase a mistake is made somewhere down the line and you have the proof it was paid out.

You will be able to register the bike in your name even if the lien shows on the UVIP if that's why you were asking how long it takes.
 
Thanks to all for the advice.

I'm going to see the bike tomorrow, the seller said we can go to the Bank directly and sort the Lien out and get the proof that it is paid. I have a question on the warranty side, I got the UVIP and the bike was purchased end of May, 2017 brand new from powersports in Ottawa... Is the Honda warranty still applicable, transferable?
 
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Yes, the original warranty is transferable. If it's the usual 12 month unlimited mileage, there's not much left in it anyhow.
 
On an unrelated issue.
I think you are moving to a mediocre bike from a very competent bike.

But hey, it's your choice.
 
The UVIP is just information for the Buyer on the vehicle. The lien on the vehicle is between you and the owner to work out as it's the lender who want payment of either the loan in full or you to take over the payment schedule. Going with the Buyer to the bank is a good plan. You want to get a letter from the bank or lender that the amount of the loan has been fully discharged on the vehicle with the s/n and model recorded.
 
On an unrelated issue.
I think you are moving to a mediocre bike from a very competent bike.

But hey, it's your choice.

True, I learn't to ride on the SV and loved that bike to bits. things I didn't were the vibrations long distance and being numb, it was the naked version, so zero wind protection, I love long distance riding and the bike just wasn't comfortable. Fuel range was low too, I like light-off roading and want to start doing more adventures like riding to Vancouver or Alaska, adding racks, engine guards, skid plates etc... to the Suzuki didn't seem right.

I'm not made of dough, so can't afford any GS's, AfricaTwins, nor want a big V-strom or XC800 for learning off road basics. CB500X seemed like a good starter for this, a sort of Half-rica Twin :lmao:- I do commute to work in Toronto, so didn't want a dirtbike either, it's not perfect, time will tell.

Thanks all, got the bike and the Lien sorted at the bank, with papers to prove in hand :)
 
From your description, sounds like you are choosing a good direction. Half-rica Twin...good one.

...and pics!
 
FWIW I think you are moving to a very competent and comfortable all rounder that you can go distance on.
My son sold off his SV for the same reasons.
Especially in Ontario you need comfort to get to decent riding areas as he quickly discovered, the upright seating position is safer IMNSHO for seeing traffic around you and far more comfortable.

The CB500x has been a winner from the get go and excellent gas mileage. Best demo ride I ever had and guy who was also demoing said he wanted to point it to the horizon and just keep going.
The thread on ADVrider is 770 pages and counting
http://advrider.com/index.php?threads/honda-cb500x.840842/

I was surprised how well it did against the 650 Strom in this review.
https://rideapart.com/articles/suzuki-v-strom-650-adventure-vs-honda-cb500x-comparison-test

Enjoy.
 
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FWIW I think you are moving to a very competent and comfortable all rounder that you can go distance on.
My son sold off his SV for the same reasons.
Especially in Ontario you need comfort to get to decent riding areas as he quickly discovered, the upright seating position is safer IMNSHO for seeing traffic around you and far more comfortable.

The CB500x has been a winner from the get go and excellent gas mileage. Best demo ride I ever had and guy who was also demoing said he wanted to point it to the horizon and just keep going.
The thread on ADVrider is 770 pages and counting
http://advrider.com/index.php?threads/honda-cb500x.840842/

I was surprised how well it did against the 650 Strom in this review.
https://rideapart.com/articles/suzuki-v-strom-650-adventure-vs-honda-cb500x-comparison-test

Enjoy.
I support this message of gospel.

Nimble in traffic, comfortable enough when i do 800+ km in a day, good gas mileage and some offroading capabilities out of the box.

@scorpion , Where do you commute from into toronto?
 

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