Advice Pls- Buying a Bike not Registered in Current Owners Name

[BillyBaht]

Well here goes: I saw a used 2008 carb model CBR150r for sale. Asking price is 28,000 with 21,000 kms on the odometer. The bike is registered in Bangkok.

The current Thai owner, living in Pattaya, never transfered the bike into his name. He has the Greenbook, Transfer and POA forms (or so he says) He agreed to bring the bike, with all documents, to me tomorrow to look at. The photos look good (of course they would) and he said the bike was never wrecked, but engine "has some noise."

I suppose the safest transaction would be to insist that we make the trade at Chonburi DLT (Pattaya will not transfer out of province bikes)

A 2008 CBR150r for 28,000 baht sounds like a bargain, maybe too much so? Stolen?

Let me have your honest opinions and don't try to spare my feeling

Thanks guys.

 

[LivinLOS]

1) should the real owner (the book name) turn up you might lose it without any recompense..

2) theres the possibility the bike is stolen or still owes money..

3) legally the bike cannot transfer ownership without the current owners signature on papers and other stuff, for Thais this can be done with old papers but farangs need current visa stamps. Of course some money at the DLT often makes this happen anyway.

Its cheap.. But personally for a bike as common as a CBR150, I wouldnt bother. If the seller says its all kosher, then offer to only pay the bulk of the money once the book is in your name, let him have a 5 or maybe (and that is maybe) 10k deposit to start the process and let him know your serious.. But the condition that if it fails to transfer you use the holding of the bike to leverage getting your money back.

 

[BillyBaht]

Hmm I never thought about giving him a deposit, then holding the bike in my posession...

Yes, I don't know this person, he could be a stand guy- or not. I wonder if he dabbles in used bikes and doesn't want to go through the time involved ion changing registration in to his name, then reselling for a low profit margin?

I was thinking about if he would go to the DLT as "a friend" to help with the language. If DLT will transfer the bike into my name, we have a deal. If not I walk away.

Any way, you're right, the bike is around 5 years old; the original price was probably around 64k and most buyers are wanting the new FI models, so the price should be discounted.

Thanks for your advice!

BB

 

[LivinLOS]

If DLT will transfer the bike into my name, we have a deal. If not I walk away.

Saying they will start the process, and saying they will finish the process are 2 very different things..

I have had multiple 2nd hand bike buys fail halfway into the DLT doing it (often grey bikes and tax issues I admit) but its possible the current book owner could have got a replacement book, that book could be in anyones name.. If the computer throws that back after you have paid what do you have left ?? A bike with no book and now no owners ID and used up sale papers.

 

[BillyBaht]

Saying they will start the process, and saying they will finish the process are 2 very different things..

I have had multiple 2nd hand bike buys fail halfway into the DLT doing it (often grey bikes and tax issues I admit) but its possible the current book owner could have got a replacement book, that book could be in anyones name.. If the computer throws that back after you have paid what do you have left ?? A bike with no book and now no owners ID and used up sale papers.

Not sure I understand.

If I go to the DLT with the person now in posession of the bike, with the Greenbook, signed transfer and power of atty docs, and the DLT transfers the bike in to my name wouldn't the bike be legally mine? I would not hand over the money until my name is in the book.