Pawned bike on sale, very cheap...!

[Agusts]

I saw a bike dealer has very cheap, less than half price, bikes in good conditions for sale.

So asked some questions, he tried hard to say all is legit, has green book all documents etc. , when I persisted he finally said it's a pawned bike...!

 

So I said in this the case you have green book, and probably copy of owner ID, but you don't have permission to sell this bike ? (I hazard a guess the owner has not signed the green book as a seller, and not the transfer form...!).

 

Then he went quiet and not replied, again said all is okay. So I wonder what the story is with these bikes, this was in Bangkok, I have seen another guy in Krabi advertising cheap bikes, they have many bikes, and very active on Facebook, and answer all questions and say all is legit etc.  ...!? I wonder...????

[Kwasaki]

At the DLT office all would be reviled.

[papa al]

Like you said.

[dcalaska]

How fast can you run away?

[Agusts]

18 hours ago, Kwasaki said:

At the DLT office all would be reviled.

I don't think so ..., He said they have all the docs to transfer, so I think they fake the signature on all docs and on green book , have copy of ID, must have got this when the bike was pawned..., even the power of attorney form they can sign it fake, so can go to the DLT office and do the transfer...., there is the bike, all docs, green book, and all signed...., DLT happy....

 

But later, who knows, the owner can come after the buyer....!?!? 

 

I'm not sure if they do stuff properly in the pawn shops here, legally when someone pawn something in a pawn shop, they sign a contract, say a watch, that says if money not returned within specified time, the watch belongs to the shop...! No issues with the watch as the pawn shop just sells it on...

 

But with a bike, the owner needs to sign stuff for DLT transfer, and I don't think this is done at the time of pawning and getting the money, later of course he won't turn up to sign anything...., but maybe he has signed the pawn contract , that could be legally binding...!

 

The truth is though, they are selling the bikes at much lower price, so that tells me something fishy is going on...!? 

 

[h90]

I have the road bikes, one was about 50.000 Baht, bought new, and I have a better one I assembled myself. But I never heard of a green book or documents....

The new one I bought came with something...I guess warranty card or so...went a few years later in the trash bin.

Are there any official documents with a bicycle?

[Ralf001]

3 minutes ago, h90 said:

I have the road bikes, one was about 50.000 Baht, bought new, and I have a better one I assembled myself. But I never heard of a green book or documents....

The new one I bought came with something...I guess warranty card or so...went a few years later in the trash bin.

Are there any official documents with a bicycle?

A bicycle does not have to have road taxed paid and compulsory insurance to operate on public roads unlike motorbikes..... that is the topic of this thread.

[Kwasaki]

2 minutes ago, Agusts said:

I don't think so ..., He said they have all the docs to transfer, so I think they fake the signature on all docs and on green book , have copy of ID, must have got this when the bike was pawned..., even the power of attorney form they can sign it fake, so can go to the DLT office and do the transfer...., there is the bike, all docs, green book, and all signed...., DLT happy....

 

But later, who knows, the owner can come after the buyer....!?!? 

 

I'm not sure if they do stuff properly in the pawn shops here, legally when someone pawn something in a pawn shop, they sign a contract, say a watch, that says if money not returned within specified time, the watch belongs to the shop...! No issues with the watch as the pawn shop just sells it on...

 

But with a bike, the owner needs to sign stuff for DLT transfer, and I don't think this is done at the time of pawning and getting the money, later of course he won't turn up to sign anything...., but maybe he has signed the pawn contract , that could be legally binding...!

 

The truth is though, they are selling the bikes at much lower price, so that tells me something fishy is going on...!? 

 

If I really wanted to bother buying a bike from the said dealer if it were me I'd want a copy of the green book after checking the frame number and engine number also the signed transfer DLT paperwork by the previous owner then take the copies to the DLT to check, if they say it's OK I would say it's OK to buy.

 

Once the transfer paperwork has been completed at the DLT office and the green book is in your name the previous owner can do nothing.

 

The money lender shops or pawn shops that give money against a bike will keep the green book if the bike owner doesn't pay then the lender takes possession of the bike and then get their money back buy selling to a secondhand dealer, hence cheap.

 

Whether the process was done properly of getting the owner to sign the bike off on the DLT paperwork is fake or not,  the fact is in the possession of the green book.

[Foek]

Most likely not have a green book only first page for pay tax and insurance like so many on sale all over Thailand, if have the greenbook do as Kwasaki says , let DLT check all paperwork. Not pay until the bike is on your name. Good luck

[it is what it is]

 

if a deal sounds too good to be true it probably is.

[Kwasaki]

54 minutes ago, it is what it is said:

 

if a deal sounds too good to be true it probably is.

We will only know that if he buys it. ????

[sambum]

22 hours ago, Kwasaki said:

At the DLT office all would be reviled.

"reviled"? Obvious typo, but I had to smile! ???? 

[Kwasaki]

3 minutes ago, sambum said:

"reviled"? Obvious typo, but I had to smile! ???? 

Yeah I'm an English builder, good at Maths but English spelling I apologise.

Would like spell check on my mobile but not good with them either.????

[h90]

4 hours ago, Ralf001 said:

A bicycle does not have to have road taxed paid and compulsory insurance to operate on public roads unlike motorbikes..... that is the topic of this thread.

Now I get it....I read bike and thought bicycle....but he means motorbike...got it....

[wavodavo]

On 5/30/2023 at 4:45 AM, papa al said:

Like you said.

Caveat emptor

[driver52]

On 5/29/2023 at 11:12 AM, Agusts said:

So I wonder what the story is with these bikes, this was in Bangkok,

i'm in BKK and I've been thinking about a motorbike......I'll go shopping with you if you fancy it? don't speak Thai but I got google translate at the ready lol

what sort of bikes has he got?

cheers

[tethys]

Maybe he meant that it was repossessed by the bank?

 

In that case the bank owns it and they remove the page of the former owner by confidentiality reasons.

 

Thats what one motorbike dealer told me.

[Ralf001]

On 5/30/2023 at 12:34 PM, Agusts said:

I don't think so ..., He said they have all the docs to transfer, so I think they fake the signature on all docs and on green book , have copy of ID, must have got this when the bike was pawned..., even the power of attorney form they can sign it fake, so can go to the DLT office and do the transfer...., there is the bike, all docs, green book, and all signed...., DLT happy....

 

But later, who knows, the owner can come after the buyer....!?!? 

 

I'm not sure if they do stuff properly in the pawn shops here, legally when someone pawn something in a pawn shop, they sign a contract, say a watch, that says if money not returned within specified time, the watch belongs to the shop...! No issues with the watch as the pawn shop just sells it on...

 

But with a bike, the owner needs to sign stuff for DLT transfer, and I don't think this is done at the time of pawning and getting the money, later of course he won't turn up to sign anything...., but maybe he has signed the pawn contract , that could be legally binding...!

 

The truth is though, they are selling the bikes at much lower price, so that tells me something fishy is going on...!? 

 

I have had Thai friends needing money and I have lent to them keeping their scooter as collateral.

 

I get them to sign all the required transfer paperwork (copy of id card/power of attorney/vehicle transfer/ etc and keep in my possesion with the bike and green book.

 

The owner does not need to be present at the DLT if they have  signed a power of attorney