How to "private sell" a motorcycle?! | GTAMotorcycle.com

How to "private sell" a motorcycle?!

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itsme

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Sorry guys, perhaps a dumb question. This is first time for me. Tons and tons of resources online that got me more confused than before! I'd appreciate it if someone can give me a very short bullet point steps. Bike is 2017 model first owner.

thanks,
 
1. Advertise bike. Take good pictures, include any upgrades, list general maintenance history/schedule. Short and sweet. No one wants to read a wall of text.
2. Respond to inquires quickly. Don't get worked up when the lowballs roll in. Just say no thanks.
3. Show the bike to potential buyers. Make sure it's clean, battery charged up, has gas in it etc. Depending on your comfort level you can do this in your driveway or others prefer to meet in a public location
4. Go through the negoations and hopefully reach an agreement.
5. Purchase used vehicle package (some buyers want to see this before agreeing to buy. Personally I'll buy the package when I have a deal) complete included bill of sale. Fill out the back of the vehicle side of the ownership (left side) so the buyer can transfer it. Keep the right side of the ownership (plate portion) and remove and keep with your plate.
6. Collect the money and watch a couple guys load up a bike that haven't loaded a bike before. Good times.

Some people like to go to the MTO to notify them that you no longer own the vehicle. I don't do this. What I do is complete a 2nd bill of sale that will be my copy and it will be dated and marked paid in full. If something happens down the road this is my proof I no longer owned that vehicle. Decide what your comfortable with.

7. Cancel insurance and start shopping for a new bike.
 
You buy uvip from service ontario for $20. List bike for sale. Uvip shows liens and can used as a bill of sale. Fill in the bill of sale, sign the back of the ownership, keep the plate half of your ownership and your plate. Done.

Things get slightly more complicated if there is a line on your bike as any smart buyer will be very concerned that it gets cleared or they can lose the bike.

Edit:

Camaros response is more thorough. I do tell mto that I no longer own the vehicle. I am not interested in dealing with crap in the future if the vehicle comes under scrutiny from the law or 407.
 
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Added to point 6. Make sure you are comfortable with the type of payment received so you don’t end up with no bike and no money.

ie. Trust no one.


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blackcamaro said:
1. Advertise bike. Take good pictures, include any upgrades, list general maintenance history/schedule. Short and sweet. No one wants to read a wall of text.
2. Respond to inquires quickly. Don't get worked up when the lowballs roll in. Just say no thanks.
3. Show the bike to potential buyers. Make sure it's clean, battery charged up, has gas in it etc. Depending on your comfort level you can do this in your driveway or others prefer to meet in a public location
4. Go through the negoations and hopefully reach an agreement.
5. Purchase used vehicle package (some buyers want to see this before agreeing to buy. Personally I'll buy the package when I have a deal) complete included bill of sale. Fill out the back of the vehicle side of the ownership (left side) so the buyer can transfer it. Keep the right side of the ownership (plate portion) and remove and keep with your plate.
6. Collect the money and watch a couple guys load up a bike that haven't loaded a bike before. Good times.

Some people like to go to the MTO to notify them that you no longer own the vehicle. I don't do this. What I do is complete a 2nd bill of sale that will be my copy and it will be dated and marked paid in full. If something happens down the road this is my proof I no longer owned that vehicle. Decide what your comfortable with.

7. Cancel insurance and start shopping for a new bike.
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GREAT! thanks a million. #7 second part done!

No inspection. right?
 
Robbo said:
Added to point 6. Make sure you are comfortable with the type of payment received so you don’t end up with no bike and no money.

ie. Trust no one.


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Click to expand...
of course! thanks for the tip
 
itsme said:
GREAT! thanks a million. #7 second part done!

No inspection. right?
Click to expand...

If your asking about a safety certificate inspection. That's part of the negotiations. It will be easier to sell if it's done and you can potentially get more money with it but they only last for just over a month so don't do it before hand in case it takes longer for you to sell it. This is for you and the potential buyer to work out.

Robbo made a great point.
 
blackcamaro said:
If your asking about a safety certificate inspection. That's part of the negotiations. It will be easier to sell if it's done and you can potentially get more money with it but they only last for just over a month so don't do it before hand in case it takes longer for you to sell it. This is for you and the potential buyer to work out.

Robbo made a great point.
Click to expand...
got it! thanks again
 
I always got the UVIP just before listing the bike for sale and noted that in my ad as well (shows you know what you're doing). The UVIP has no expiry date so if you don't sell until next spring it's still good.

I would always offer to provide the safety but I would only get the safety done once I had a firm deal with deposit in hand because the safety has a pretty short time limit on it -30 days or something like that.
 
- Show the bike in a public place.
- Don't give out your address, especially to someone that does not give you their real e-mail and/or phone number.
- Google them before you meet up with them.

Learn from me. I just got mine stolen last night from my garage (house, not condo).

99.99% of my kijiji interactions have been pleasant without ********. Don't let your bike be the 0.01%.
 
I would add...make sure you've sold your existing bike before getting involved in a financial commitment for a new one, assuming owning 2 bikes for an extended period of time isn't a financial commitment you want, or can handle from a cost/expenses standpoint.

If this bike is a 2017 you may not get what you expect money-wise out of it, unfortunately - recreational toys do suffer from fairly serious year 1 depreciation. If you're currently financed on it and need to clear that financing before buying something else, you may find you aren't going to get what you owe back out of the bike at this point.

Especially this time of year when the market is at it's absolute weakest.
 
There are also dealerships that will take a decent value of trade in (especially for a 1 year old model) if you're interested in losing +/-30% of cash value. They usually do all the legwork if you're doing a trade in AFAIK

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Mention the UVIP will be made available if you wish, but get it when you have a deal. It doesn't expire, but as a buyer I wouldn't want one older than a week or so. Liens can be put on the vehicle in less time, but it would be recent and the seller would be falsely selling it in that case. Maybe no protection for the buyer, but makes me feel better if it's recent.

Safety is good for 36 days.
 
Thank you guys for your great answers.

PrivatePilot :
I understand and even one step further. I never finance money to buy motorcycle! If I can't afford it, I won't buy it.
 
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Point 2 from blackcamaro can not be overstated. Be prepared for low balls, offers from someone on a drilling rig in the North Sea, Paypal sight unseen, etc.

You will be asked why you're selling a year old bike.

If you know the bike will pass a safety put in "Will come with a safety certificate" and get the better price.

Where to show it is a tough one at this time of year because of the weather and if the buyer does a no show you've wasted time. At home you can still be doing something productive instead of sitting at a Timmies. Ouch for slow getting his bike stolen. Show at a friend's place? At least you get in a visit and hopefully they don't steal his.

This isn't prime selling time but the buyers will hopefully be more serious.
 
slow said:
- Show the bike in a public place.
- Don't give out your address, especially to someone that does not give you their real e-mail and/or phone number.
- Google them before you meet up with them.

Learn from me. I just got mine stolen last night from my garage (house, not condo).

99.99% of my kijiji interactions have been pleasant without ********. Don't let your bike be the 0.01%.
Click to expand...
Holy crap that sucks! What kind of bike?
 
Mango Rider said:
There are also dealerships that will take a decent value of trade in (especially for a 1 year old model) if you're interested in losing +/-30% of cash value. They usually do all the legwork if you're doing a trade in AFAIK

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Click to expand...

If you're buying a new bike from the dealer, and they give you a decent price on the 2017 trade in, it may be worth doing this instead. Remember that you'll only be paying HST on the difference. If you sell privately, then buy new, you pay HST on the whole amount so, you need to sell for 13% more than the dealer would offer on trade, just to break even.
 
Like someone mentioned, don't meet at your house.

Always keep the keys on you as well as the ownership. (not on the bike incase they take it).

No test rides - the headaches if something were to happen are something you don't want to experience. (they can watch you ride by as a test)

Deposit is non refundable - let them know that. So many doorknobs think they can simply change their mind and ask for deposits back. Letting them know in advance, saves you some headache. If they want the bike, they provide a non refundable deposit and only get the keys/ownership once your agreed balance is paid in full, not before.
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