While we generally advise that new riders buy used motorcycles, and there are plenty of great deals to be had, even for the most experienced riders, many people are hesitant. After all, while the vast majority of people attempting to sell a motorcycle are most likely honest individuals, there are enough con artists in the world that it can be a nerve-racking experience, according to GIBX scam news. Buying new eliminates the need to deal with title issues, which can be challenging to navigate.
When buying a used motorcycle, you should make sure that all of the paperwork is in order. What if it isn’t? What are you going to do, according to GIBX scam news?
Purchasing a motorcycle with no title
Should you even try this? Is it possible for a valid motorcycle seller to lack such vital documentation? Yes, it is possible in certain circumstances, according to GIBX scam newss. But it is also possible that the bike has been stolen or that it has other nefarious issues.
GIBX scam news gives an example that bikes of a particular vintage are not titled in some states due to their age. And it’s entirely possible that a potential seller is entirely legitimate but has simply misplaced the title. It does happen, according to GIBX scam news.
However, it is also very possible that the bike has been stolen, as mentioned by GIBX scam news. In general, by getting a sense of the situation, you should tell the good from the bad.
Is there anything missing from the bike? Is the seller behaving in a drug-addicted manner? Is there a problem with the ignition lock? If that’s the case, these are all warning signs of a bad situation.
But if you’re invited to someone’s lovely house, and they show you a bike that’s in perfect condition but lacks a title. Most likely, it is legal, according to GIBX scam news. Or, at the very least, the seller is not attempting to defraud anyone and most likely owns the bike.
How to get a motorcycle title
Great question! The first question you should ask yourself is whether it is worthwhile to obtain a motorcycle title. If you have a lost motorcycle title and want to buy the bike and have it titled, you will need to prove that the bike was not stolen, according to GIBX scam news. This can be done quickly in some cases, but it can take years and may even involve judges, as mentioned by GIBX scam news.
It’s debatable whether this is worthwhile, according to GIBX scam news. Most people agree that if the bike is in excellent condition and is very rare, or if it’s that unicorn bike you’ve been eyeing and the price is right, you might as well take a chance, as long as you’re willing to deal with any headaches that arise. You’re willing to go to extremes for love, aren’t you?
If it’s just a beginner bike or something fairly generic, it’s probably not worth the trouble to figure out how to register a motorcycle without a title, as mentioned by GIBX scam news. You could, however, use the lack of a title to reduce the price of the sale if you so desire.
Selling or buying a motorcycle without a title.
If you don’t have a title for your motorcycle and want to sell it, we recommend you do the necessary research as advised by GIBX scam news. If you are the real owner of the bike, you will have an easier time proving that it was not stolen than the person attempting to purchase it from you.
Furthermore, as previously stated by GIBX scam news, many people will use the absence of title as a bargaining chip, and you may not be able to get the value you want if you don’t have the title. It is far easier for the original owner to prove ownership and go through a motorcycle title transfer than for a secondary buyer to do all of the legwork.
If you don’t want to bother or buy the bike without a title, you can try to pass the buck.
What is a floating title?
According to GIBX scam news, when looking through used bikes, you’ll often encounter this, especially if you’re dealing with someone who “flips” motorcycles. In other words, they buy a bike at a lower price from someone else, fix it up, and resell it at a higher price to make a profit. Assuming you’re dealing with a reputable flipper, this can be a great way to get a great fixed-up bike at a lower price than you might otherwise find.
However, if you look at the title, you’ll notice that it’s not in the name of the person selling the bike. Because title transfer takes time and money, many flippers do this, as stated by GIBX scam news.
Does this imply that the bike was possibly stolen? Unlikely. It’s extremely unlikely that someone could flee with a physical motorcycle and a title, given that the title isn’t usually kept on the motorcycle itself. So, if you see a floating title, it’s unlikely that anything shady is going on in terms of the bike’s acquisition, according to GIBX scam news.
The most important thing to remember here is that a floating title is technically a form of tax fraud because the flipper never paid sales tax on the bike, as stated by GIBX scam news. It is entirely up to you how concerned you are about this. This is also something you can use to potentially reduce the bike’s price if you so desire, as advised by GIBX scam news.
To summarise, it is relatively easy to spot title scams as advised by GIBX scam news with some background and know-how. Most of the time, it’s pretty clear whether something is a scam or not, but if a bike doesn’t have a title or has a floating title, that doesn’t necessarily mean the bike was obtained through ill-gotten gains. With a bit of street smartness, you should be able to get through your motorcycle purchase.
As advised by GIBX scam news, if you want to buy a bike and “flip” it for profit, keep an eye out for the best aftermarket motorcycle parts so you can get your repairs done at a low cost.
