Buying bike - Green book unavailable for 45 days

[metice]

I'm interested in buying a bike from a secondhand shop. They said the green book wasn't available for transfer for 45 days. My understanding is that it's to do with finance on the bike, so maybe this has been repossessed? Of course, they said it's not a problem but I want to be absolutely certain that I'm not going to have difficulties with the transfer. Has anyone encountered this situation and how can I be certain that there is a green book? The guy told me I could drive it away today but I don't believe anything from these people. 

[rhodie]

Don't do it. If finance, green book handed over when payment in full, not 45 days.

[Vacuum]

Do not pay any money until you have a verified green book.

[richard_smith237]

That you don’t believe a word from these people is a smart move - trust your instincts.

 

If you really want the Motorcycle one of your options would be to pay a deposit, i.e. 10%, ride the bike away and pay the remainder when they hand over the green book and transfer ownership.

 

But you could still have issues if you are unable to prove ownership or financing if the Police stop you, especially if the motorcycle does have an issue such as outstanding finance or its stolen. 

 

45 days seems too long and something doesn’t add up. Your instinct is correct, the  sensible option is to walk away. 

You will be able to find the same bike elsewhere for the same money.

Edited May 25, 2019 by richard_smith237

[soalbundy]

Maybe the guy making them in Khao San road is on holiday.

[BritManToo]

12 minutes ago, metice said:

how can I be certain that there is a green book?

Don't pay until it's in your hand.

[samuttodd]

I wouldn't buy that bike then.  

[Vacuum]

3 minutes ago, BritManToo said:

Don't pay until it's in your hand.

Exactly, and check the engine/frame numbers match the book.

[Kwasaki]

32 minutes ago, metice said:

how can I be certain that there is a green book?

Ask them to give you a photocopy of the book which they should have, if they haven't got that walk away.

[lmaxv]

If a photocopy of the greenbook can be had, then the greenbook can be had just as easily. Lots of good advice...stay clear.  Without it you're not the owner.

[Andycoops]

You need to check any outstanding  finance. 

If you don't then as the registered owner you are liable as I understand it.

This happened to a friend of mine who bought a 2nd hand car for 300000k cash and then found out he was in for another 250000, so he says.

[jackdd]

1 hour ago, Andycoops said:

You need to check any outstanding  finance. 

If you don't then as the registered owner you are liable as I understand it.

This happened to a friend of mine who bought a 2nd hand car for 300000k cash and then found out he was in for another 250000, so he says.

What your friend told you is wrong.

If the vehicle is on finance the finance company / bank keeps the blue / green book, so the registration can not be changed to another person.

@OP: Once you hand over the money there is a good chance that you will never get the green book, so don't do it.

[thailand49]

I didn't see any mention from the ops that he intends to finance the purchase?

 

Also when the ops mentioned " second hand shop "  do he mean a pawn shop or a second-hand dealership like Mityon here in Pattaya.

I purchased a number of years ago a used PCX from Mityon,  I took the registration and checked the I.D. number on the bike, why they come to have the bike normally repossessed due to non-payment. Note: it is common if a bike is repossessed that it hasn't been serviced regularly so check the mileage and the service book if all the writing is the same then the seller has filled in the blanks. Then look for the parts on the bike lots of fancy aftermarket stuff bike most likely owned by a young kid and we know what happens there.

I didn't get the book right away!  I got a sale contract with a bunch of other stuff and told in about 4 weeks I will get the new green book in my name. Didn't have a problem that was a dealership!