A tough call today for a test ride.

M

Merkid

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I sold a bike last month subject to a test ride which I had planned with the buyer for March at the earliest. We settled on a deposit.

He called last night wanting to close the deal today with a test ride. I looked at the forecast last night calling for 9C this afternoon so reservedly agreed to oblige him. I think the temps might be fine but the roadways in Mississauga look slick right now. He's bringing his trailer and all cash needed so he seems serious.

On the plus side if all goes well I can close the deal today and have more garage space. Fingers crossed.
 
Cash in hand before he fires it up and you should be covered. Buyer takes the risk as you're not responsible if he drops / damages what is still your bike.

If he's that eager, and the rain is starting in the late afternoon / early evening I'd be OK with getting the deal done at the earliest opportunity.
 
mimico_polak said:
Cash in hand before he fires it up and you should be covered. Buyer takes the risk as you're not responsible if he drops / damages what is still your bike.

If he's that eager, and the rain is starting in the late afternoon / early evening I'd be OK with getting the deal done at the earliest opportunity.
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@ifiddles is correct. Insurance follows the vehicle.

I believe @mimico_polak meant that ‘you break it, you buy it’ is in effect. Envelope gets pocketed. Plates come off bike, insurance is cancelled and the registration signed over. Bike cleanup and repair is on the new owner. Enjoy!
 
ifiddles said:
@mimico_polak that sir is incorrect...hubby had his bike for sale and someone wanted to go for a test ride...we called our insurance and asked who would be responsible should God for, something happened, and were told under any and all circumstances, we would be on the hook...this was with TD...only a couple of months ago...
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That makes no sense. If the deal is done (money and paperwork exchanged) how is it your problem? If you just have money and haven't officially sold it (eg essentially holding a 100% deposit), I could see that being your problem.

Merkid, does buyer have a motorcycle plate they can bring? Worse for them, better for you. You sold it, you took your plate off, afayk they insured it (which would be easy enough if they had the vin in advance).
 
ifiddles said:
@mimico_polak that sir is incorrect...hubby had his bike for sale and someone wanted to go for a test ride...we called our insurance and asked who would be responsible should God for, something happened, and were told under any and all circumstances, we would be on the hook...this was with TD...only a couple of months ago...
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I didn’t clarify. Not counting insurance just ownership.

Bike gets damaged it’s on the owner. Guy gets injured…that’s a whole other whack of pain if it’s still insured under OP.
 
And that's exactly what I was referring to...since the buyer most likely won't have his own insurance on the bike, God forbid he crashes, or hurts himself or someone else, it's on the OP...
 
Lightcycle said:
Take a picture of the bike from all angles before he gets there. If there's any dispute about whether a scratch or dent was on the bike before or after the test ride, then you have some photographic evidence.
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Could also get in a car and follow them I guess...but that's on OP to decide. If he's got the cash...let em have it.
 
I sold a bike last summer. I met buyer in a large empty portion of a mall parking lot near me to inspect, sit on, hear the bike, etc.

My personal preference that I go with is, if you want to test ride it, you get insurance on it for the test ride and show me proof of it in the format of their provider contacts my provider.

Almost always if someone is that interested, once they've seen it in person, hear it fire up and me pull away, etc. They will get insurance up and running for either a test ride or purchase.

In my case it's always been they got the insurance up and running and brought their own plate at time of sale or trailered it away without a plate on it.

This last sale, I had the bike waiting to go with my plates removed, and tools to help them put their plate on if they were riding it away, bill of sale ready to sign, And a bin of all the original parts, documents etc.

In all cases they always came with someone else in a vehicle or a trailer. I have yet to have someone get insurance up and running for a test ride. But I have always made that option available.

I also immediately call my insurance provider to cancel insurance due to sale of ownership and inform MTO (they make a copy of the bill of sale and file it).

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Thanks for the feedback. All went well.

Prior to the test ride he did cash me up for the value of the sale and signed a waiver that I cobbled up. I held him off until late afternoon when the roads dried up. I even kept the keys to his Tundra.

I escorted him in my car on a variety of safe routes for half an hour. He returned with a trailer last night. prior to which I had deposited the $.

The bike sounded and looked so good, I was convinced to not sell it while driving but realized there was a reason to let it go.

Now I see a void in the garage but should be able fill the space quickly.
 
Lightcycle said:
🤷‍♂️ I wouldn't know.

I'm just a pauper who rents the roof over his head. You should head over to the numerous Covid+Housing threads on here and ask the GTA land barons what it feels like to be ballers...
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Last I checked you were the resident Ferrari alumni! 👨🏼‍⚖️

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