2nd hand bike issue ?

[poanoi]

i wonder if loans follows the bike rather than the person

who borrowed in the first instance ?

 

so for example, if i buy a bike, and the person i buy from

is still paying monthly to a company for that bike,

do i inherit his debt on the bike ?

[johng]

 
so for example, if i buy a bike, and the person i buy from
is still paying monthly to a company for that bike,
do i inherit his debt on the bike ?

Yes....but normally the finance company wants the dept paid off before they release the green book

[poanoi]

3 minutes ago, johng said:

 

 

Yes....but normally the finance company wants the dept paid off before they release the green book

do they keep the book without fail until debt is paid ?

or is there any way to know if debt is paid ?

come to think of it:

the bike i contemplate is 2 years old,

can i safely assume its paid off already ?

or are the payoff schedule significantly longer than that ?

Edited June 21, 2018 by poanoi

[BEVUP]

Depends what you want to do 

If your willing to pay cash (out right ), you negotiate a price / get the owner to check loan balance & deduct that from negotiated price.

This will be done at the Loaners office so you can receive the papers from both parties

 

OR

 

If the Finance company is willing to allow you to take over payments (mind you this will involve more paper work ), just do as above 

 

After 2 yrs I wouldn't think there would be to much left I we're talking small Mope Head 

[poanoi]

14 minutes ago, BEVUP said:

Depends what you want to do 

If your willing to pay cash (out right ), you negotiate a price / get the owner to check loan balance & deduct that from negotiated price.

This will be done at the Loaners office so you can receive the papers from both parties

 

OR

 

If the Finance company is willing to allow you to take over payments (mind you this will involve more paper work ), just do as above 

 

After 2 yrs I wouldn't think there would be to much left I we're talking small Mope Head 

it becomes easier if the previous owner tells me whats up,

but what if he just dont mention there being a debt on the bike ?

from what i can gather, 100k baht should have been paid off

these 2 years for debt to be zero if it was financed by loans altogether,

so 50k per year / 4k per month

Edited June 21, 2018 by poanoi

[BEVUP]

9 minutes ago, poanoi said:

but what if he just dont mention there being a debt on the bike ?

The Financier will be holding the Green Book & will not hand it over till paid

[poanoi]

2 minutes ago, BEVUP said:

The Financier will be holding the Green Book & will not hand it over till paid

if that is guaranteed, then i have no issue proceed

[BEVUP]

18 minutes ago, poanoi said:

if that is guaranteed, then i have no issue proceed

I should expand on that 

 

Either Financier will allow you to take over payments & keep book till paid

                                                    OR

They may require the Loan to be paid in full before handing over book 

 

Person in possession of Motor bike needs to check with his Finance Company

[poanoi]

1 hour ago, BEVUP said:

 

Person in possession of Motor bike needs to check with his Finance Company

i think you are missing my point:

i dont feel comfortable trusting a complete stranger telling me the truth,

the whole truth, and nothing but the truth.

or put another way: what guarantee do i have that he doesnt just

sell the bike, take the money, and run for his life

all the while i stand there with my bike, the book, and the old debt ?

[BEVUP]

2 hours ago, BEVUP said:

Either Financier will allow you to take over payments & keep book till paid

                                                    OR

They may require the Loan to be paid in full before handing over book 

This bit is your safe guard

 

I/wife sold a car that had a loan against it to a dealer

 

Price was agreed on - So lets's say he gave us (or bike owner )a percentage (at our home ) / we told him of the final                                                  payout figure (which he would of checked )

                                     - Then all he (or bike buyer ) had to do was go to the Financier & pay to receive the Book 

                                     - Maybe up to you if you want to try & refinance with them

 

 

[eisfeld]

1 hour ago, poanoi said:

all the while i stand there with my bike, the book, and the old debt ?

You wont get the book if there is still debt. The financing party should hold the book, not the guy with the bike. And if you don't get a book, don't pay. As long as you follow the simple rule that you only pay at the DLT when the book gets transfered into your name, there's not that much that can go wrong. Apart from problems with the bike itself of course.

[poanoi]

3 minutes ago, eisfeld said:

You wont get the book if there is still debt. The financing party should hold the book, not the guy with the bike. And if you don't get a book, don't pay. As long as you follow the simple rule that you only pay at the DLT when the book gets transfered into your name, there's not that much that can go wrong. Apart from problems with the bike itself of course.

that is actually precisely my plan to the last letter

[Juan B Tong]

Hey, just keep it simple.

Go to an established dealership. 

Buy a used bike from them.

 

 

[kingstonkid]

Remember the old adage if it is too good to be true it probably is.

[cnx355]

20 hours ago, BEVUP said:

I should expand on that 

 

Either Financier will allow you to take over payments & keep book till paid

                                                    OR

They may require the Loan to be paid in full before handing over book 

 

Person in possession of Motor bike needs to check with his Finance Company

And normally the name of the finance company is in the first page of the book in case of new vehicle.

Check who is the first owner in the book !

[UnkleGoooose]

As there are thousands of used bikes for sale, why don't you just buy one that definitely doesn't have finance outstanding.

[OneMoreFarang]

3 hours ago, UnkleGoooose said:

As there are thousands of used bikes for sale, why don't you just buy one that definitely doesn't have finance outstanding.

How would you know "definitely"?

 

 

[OneMoreFarang]

I don't want to scare anybody and this is just a guess.

But keeping in mind that Thais are world champions in fake goods (including ID cards, etc.) I wouldn't be surprised if there are also fake green books for sale...

 

[Tacuisse]

48 minutes ago, OneMoreFarang said:

How would you know "definitely"?

 

 

If the OP buys from a farang, the Green Book will be in order, and it's very unlikely any debt would be outstanding. We just don't have the manipulation skills here.

[Beats56]

Why don't just buy a new bike and pay cash. Their not that expensive.

These dealers make money on financing. They really don't want you to pay the whole bike off. I know my wife's brothers are still paying on bikes they have had for years.

 

[poanoi]

with no other difference, would a forza 300 be worth twice that of a 150 pcx ?

 

my thoughts are pcx is probably even smaller than forza,

but on the bright side i dont have to bring over more money at this rate.

 

in both cases they are water cooled altho i long ago vowed to never buy watercooled,

seeing how many friends and acquaintances that went through so much

aggravation and money only to eventually succumb to the 

deformed engines and sell them onto next victim

[OneMoreFarang]

1 hour ago, poanoi said:

with no other difference, would a forza 300 be worth twice that of a 150 pcx ?

 

my thoughts are pcx is probably even smaller than forza,

but on the bright side i dont have to bring over more money at this rate.

 

in both cases they are water cooled altho i long ago vowed to never buy watercooled,

seeing how many friends and acquaintances that went through so much

aggravation and money only to eventually succumb to the 

deformed engines and sell them onto next victim

Can someone please explain to me the attraction of those bikes. They are huge! I see all the time people with these "motorcycles" stopping in the traffic just like cars because they are too big to be driven between the cars.

That might be alright somewhere with a lot of space on the streets. But at least in Bangkok I think they are almost useless because they are too big to get anywhere fast.

 

[poanoi]

2 hours ago, OneMoreFarang said:

Can someone please explain to me the attraction of those bikes. They are huge! I see all the time people with these "motorcycles" stopping in the traffic just like cars because they are too big to be driven between the cars.

That might be alright somewhere with a lot of space on the streets. But at least in Bangkok I think they are almost useless because they are too big to get anywhere fast.

 

honestly i dont see the attraction in them either,

but its the only two bikes i have learned the prices on.

i wouldnt mind if i came across an old air cooled bike

cheap as chips i can use to ride around looking for a good chopper.

 

on being stuck in traffic vs sliding through,

i think sliding through is coming to an end with the cameras

Edited June 22, 2018 by poanoi

[OneMoreFarang]

57 minutes ago, poanoi said:

honestly i dont see the attraction in them either,

but its the only two bikes i have learned the prices on.

i wouldnt mind if i came across an old air cooled bike

cheap as chips i can use to ride around looking for a good chopper.

 

on being stuck in traffic vs sliding through,

i think sliding through is coming to an end with the cameras

I have a Suzuki Raider 150. That is the perfect bike to get through traffic.

The "new" model is available since about 4 or 5 years and I guess you should get one for a reasonable price.

No water cooler but and oil cooler.

I use that bike since years in heavy traffic in Bangkok and never had a problem.

All my previous water cooled bikes didn't like the heat - at least in extreme stop and go traffic on Friday afternoon.

 

There is also a very new version of that bike out since maybe a year. I guess that brings the prices down of the previous model.

 

The picture is of the 2014 model

 

[johng]

I have a Suzuki Raider 150. That is the perfect bike to get through traffic.

 
There is also a very new version of that bike out since maybe a year. I guess that brings the prices down of the previous model.
 
The picture is of the 2014 model
 

The newest Raider is water cooled !

There are loads of air cooled small CC bikes around for example Honda Wave,Honda MSX,Yamaha spark,Kawasaki KSR,Suzuki GD 110

[OneMoreFarang]

22 minutes ago, johng said:

The newest Raider is water cooled !

There are loads of air cooled small CC bikes around for example Honda Wave,Honda MSX,Yamaha spark,Kawasaki KSR,Suzuki GD 110

 

In case you didn't notice it: I recommended not the newest Raider. I recommended the 2014 model which is also shown in the picture. And that has no water cooler. The Raider has 150cc, two disk break, a clutch, 6 gears, just like a real bike.

[johng]

The Raider has 150cc, two disk break, a clutch, 6 gears, just like a real bike.

Yes I know...mines a first series 14 years old still going strong.

[Jingjock]

On ‎6‎/‎21‎/‎2018 at 12:15 PM, poanoi said:

do they keep the book without fail until debt is paid ?

or is there any way to know if debt is paid ?

come to think of it:

the bike i contemplate is 2 years old,

can i safely assume its paid off already ?

or are the payoff schedule significantly longer than that ?

Ask to see the green book, if no green book, money still owing

[canthai55]

To be 100% sure, the last name in the Green book must match the name of the person who is selling the bike. Check his ID card against the book. If both are a match, he is the lawful owner of the bike