Bike Selling Question

[NPloysa]

I have a buyer for my 05 BMW Dakar, the deal is going down today. BMW owns the bike which means they have the title. We'll go to my bank and get a check sent to BMW Financial so the title can be sent, signed, and handed over.



Should I remove the plate from the bike? He doesn't have an MC endorsement or insurance yet, so should I keep the bike insured until he does? Until he gets the title it is still "mine".



What do you guys think?



Nick

 

[MEby]

yes on insurance and removing the plate

 

[NPloysa]

Thanks! First sale of a vehicle personally!



Nick

 

[cap-n-cray]

In California when you sell a vehicle you put the mileage on the title when you sign over the vehicle to the new owner. That removes you liability on that date at that mileage. I am not sure about Colorado or Washington where I am now. I don't believe you can insure a vehicle when you are not on the title. I am not sure about the loan.



If I were the buyer I would not accept the vehicle till I had clear title to it. As the seller you could withhold title on the vehicle, what can the buyer do? It starts to get complicated.



Best way is the go to DMV with the bike, title and buyer and transfer it right there. You should have a title with BMW as loan holder.



Cary

 

[crobertson1]

Cool Nick! Now go get a WR450 so you can do some serious off-roading. That way, you'll have the best of both worlds-dual sport and strictly dirt!

 

[NPloysa]

Well it is sold! Deal went smoothly. He had a little Tacoma with 4 doors and four inch bed, so it was tough to get the bike in. Plus we didn't have ramps! We had to lay wood down on a ladder, good thing my driveway is sloped!



Craig, I would, but need to put more stuff on my bike, then get Mack a bike if I ever want her to ride. Maybe a cheap dual sport that I can single-track with or she can ride with me on it.

 

[crobertson1]

XR400 or KLR 250 or Super Sherpa?