Before giving deposit for that used bike . .

[coldbarrel]

When buying bike direct from seller, seller will usually ask for deposit. .

How u know the bike is not still under hire purchase?

Or that he is even owner of the bike?

 

Ask seller to give NRIC to let u copy the details?

 

Even then, if seller collect the deposit, then disappear, how to find the person?

Police case? Seller buyer dispute, police won't interfere.

 

Maybe got police case If this seller collect many deposits from different buyers . .

But how will u know unless all the buyers who gave deposits go make report and the police notice the same license plate. . .

 

Better still ... If this seller change the plates? Must change to one that also belong to same model . . Then even more impossible to get your money back . .

 

Even police catch the guy . . No guarantee will get your money back . . .

[mechwira]

arrange to hand over full cash at LTA office upon completion of administrative handing over of ownership. buyer loses nothing as he hands over cash only upon actually officially receiving ownership. seller gets full cash and does not need to worry about buyer running away without paying any balance.

 

As seller, i wouldn accept anything other than full cash. i dont trust any buyer asking to pay me in instalments. i would rather push to shop.

 

as buyer, i will not hand over a single cent until on paper the bike is legally mine.

 

any other arrangement and somebody has to bear risk, whether buyer or seller.

[jayz]

you both has to trust each other. usually will meet at the seller's place. so you know where he lives. if you scare he bluff you where he stays, then you shld go over to the place where both of you agreed to; earlier than the specific timing. to see his bike there anot and see where he is coming from. and usually ppl give deposit of $50 only. or what ever amount you wish to give him. if he ask for more, you shld ask why need so much? i already give you $50, if i really dont buy, i lose out $50 and he still gain that $ what. simple logic. take his no. and plate no. down of cos. b4 u go down view, then go onemotoring check the bike. thats what i do loh. some ppl got their own way of dealing this kind of thing. in the end is still trusting each other ba. or bring friend go, also can.

[crazydj]

So what if transfer of ownership already, then at LTA itself, the buyer run off with your bike?

[mechwira]

So what if transfer of ownership already, then at LTA itself, the buyer run off with your bike?

 

epic fail lor. i'd like to see the cctv of the seller signing the document, grab the cash and run back down to ride off in the bike he just sold.

[crazydj]

epic fail lor. i'd like to see the cctv of the seller signing the document, grab the cash and run back down to ride off in the bike he just sold.

 

In this day and age, anything is possible bro...

 

Anyway, i was referring to the buyer running off with your bike without paying you. LEGALLY, the ownership has already been transferred.

[0401897D]

In this day and age, anything is possible bro...

 

Anyway, i was referring to the buyer running off with your bike without paying you. LEGALLY, the ownership has already been transferred.

 

in addition ask for home address cross check at his NRIC

[arthur_chan]

what i did with pte sellers. confirm the bike belong to the seller, ask his ic, view his log card.

 

go pte place, buyer show seller full cash, both go lta do transfer. after transfer done, go bike, 1 hand cash, 1 hand key after a final check of satisfied deal. each go their own way.

 

if buyer got robbed, it's a conspiracy. immed report police with seller's details.

if seller take cash n run away with bike, report police, he is stealing ur property.

if buyer is not handing over cash, seller dont hand over key. immed go back lta n void the transfer.

 

if still scared, draft a contract beforehand with both parties' IC. anything not done accordingly, go court sue.

or else go shop settle, at least a witness is there.

[Fried Rice]

what i did with pte sellers. confirm the bike belong to the seller, ask his ic, view his log card.

 

go pte place, buyer show seller full cash, both go lta do transfer. after transfer done, go bike, 1 hand cash, 1 hand key after a final check of satisfied deal. each go their own way.

 

if buyer got robbed, it's a conspiracy. immed report police with seller's details.

if seller take cash n run away with bike, report police, he is stealing ur property.

if buyer is not handing over cash, seller dont hand over key. immed go back lta n void the transfer.

 

if still scared, draft a contract beforehand with both parties' IC. anything not done accordingly, go court sue.

or else go shop settle, at least a witness is there.

 

@arthur_chan

 

possible to do that? based on what reasons? is there a time limit?

[PaLmEr]

The last time i bought a used bike from Forum, Paid a deposit upon viewing and went with owner to LTA to do the transfer. Balance cash was paid to owner upon transfer at LTA

[lv3338]

Whether to trust the seller , the buyer has to judge on his /her own.

If many people come and view.....and thereafter backoff from transact and transfer for the deal, it would be at seller disadvantage.

 

hence to collect a small fix amount as deposit is pretty reasonable prior the actual paper transaction at LTA. then buyer pay the remaining full amount of it/

Edited April 18, 2011 by lv3338

[arthur_chan]

@arthur_chan

 

possible to do that? based on what reasons? is there a time limit?

 

i believe the deal would be done near lta's carpark right, unless both of u need to travel to no-man's land to settle then really

 

immediately rush back to lta n do explaining, let's say buyer not willing to follow, then i believe they can advise something as it's within a short time. if u drag until next day, good luck if anybody wants to believe u. timing is crutial, if wose scenerio, i believe is go court.

[coldbarrel]

Agreed with what is said; boil down to comfort & trust ...

 

As a seller; when i ask for deposit, I'll give copy/ print-out of my log card (seller must also make a bit of effort lah, cannot just collect $)

with the log card, easier for buyer to buy insurance, check for outstanding summons in M'sia etc