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My buddy's father in-law was selling his bike this year and he had a guy interested. The guy wanted to take a test ride before buying it, but my buddy's FIL told him cash up front and he can ride it all he wants. The guy dumped it not once, but twice during his test run. Come to find out the guy never had a bike before and his first bike was now slightly damaged.
Here's my policy: I tell 'em "No joyrides--you buy the bike, cash only,no checks of ANY kind. & if you find ANY problem at all after taking delivery,bring it back within 1 hour of purchase for a full refund. Since my sleds are always perfect,no one has brought one back yet. Back in the day when I actually TRUSTED people, I let people take test rides,no questions asked. Had 2 guys drop bikes on me--a Sportster & a Norton Commando. I also sold a couple bikes to perfect strangers & agreed to payments after they took delivery--shows how times have changed.
I went through this a few months back when I was selling a bike. No test rides. I'll ride it up and down the street for them but they can ride it once its paid for. Unlike cars; most insurance companies won't cover another rider so if anything happens your stuck. If they get hurt you're on the hook.
with the prices these bikes bring, and seemingly, a good number of us finance it, or at least a major portion of it..... how does a person bring $5k or more likely $10k to the table?
when I sold my Fatboy a couple of months ago, I asked for motorcycle endorsement, and would hold the potential buyer's driver's license and his insurance card. the guy that bought it didn't have an endorsement, I wouldn't let him ride it.
part of the selling process is reading the buyer. I know, it's not foolproof - but, I like to think I'ma pretty good judge of character.
I like the money back guarantee within the hour idea.
My insurance only covers me on my bike.Years back I let a guy test drive my bike and he was gone 2 hours. I went berserk when he finally pulled in the driveway. It will never happen again. Pay for the bike then ride it.
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with the prices these bikes bring, and seemingly, a good number of us finance it, or at least a major portion of it..... how does a person bring $5k or more likely $10k to the table?
when I sold my Fatboy a couple of months ago, I asked for motorcycle endorsement, and would hold the potential buyer's driver's license and his insurance card. the guy that bought it didn't have an endorsement, I wouldn't let him ride it.
part of the selling process is reading the buyer. I know, it's not foolproof - but, I like to think I'm a pretty good judge of character.
I like the money back guarantee within the hour idea.
You meet them at the bank and complete the transaction there. Holding a drivers license and or an insurance card does nothing for you. His insurance company is going to tell you to file it under your carrier and most likely your carrier is going to tell you the guy riding it wasn't insured so they won't cover it. MC insurance doesn't usually work the same as car insurance. Most car insurance companies have an "authorized user" clause; MC coverage usually doesn't. It depends a lot on the state you're in too. Anything that happens it pretty much on you. We all like to think we're good judges of character but I can tell you as an insurance agent I see A LOT of people I see go from "good people" to "real ugly" really fast.
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