Top 5 Mistakes to Avoid When Purchasing Impounded Motorcycles
The allure of a discounted motorcycle, especially one from an impound lot, is undeniable. You can potentially snag a great deal, but navigating the world of impounded motorcycles requires caution and knowledge. Many buyers rush into these transactions, blinded by the prospect of savings, and end up making costly mistakes. This article will arm you with the knowledge to avoid the most common pitfalls when purchasing impounded motorcycles, ensuring you ride away with a good deal and a functioning bike.
Failing to Conduct a Thorough Inspection
Perhaps the biggest mistake you can make is purchasing an impounded motorcycle without a thorough inspection. Remember, these bikes are often impounded for a reason – they might have been abandoned, involved in accidents, or seized due to legal issues. The impound lot isn’t responsible for the bike’s condition, meaning what you see is what you get. Don’t rely solely on photographs or superficial observations. Look beyond the dust and grime.
Start by visually inspecting the entire motorcycle. Check for obvious signs of damage, such as dents, scratches, or broken parts. Pay close attention to the frame, as damage here can be costly to repair and can even render the bike unsafe to ride. Inspect the tires for wear and tear, and look for any signs of dry rot or cracking. Check the fluids – oil, coolant, and brake fluid – for levels and condition. Dark or sludgy oil, for example, can indicate a neglected engine. If possible, bring a mechanic or someone knowledgeable about motorcycles with you. Their expertise can be invaluable in identifying potential problems.
Skipping the Title and Lien Search
This is where things can get really messy. An impounded motorcycle might have outstanding liens or encumbrances. This means someone else might have a legal claim to the bike, even after you’ve paid for it. Before bidding on or purchasing any impounded motorcycle, perform a thorough title and lien search. This involves checking with the relevant state motor vehicle department or hiring a title search company. These services can uncover any hidden claims, such as loans or unpaid fines, that could prevent you from legally owning the motorcycle. Ignoring this step could lead to legal battles and potentially losing the bike altogether.
Even if the impound lot claims to have cleared the title, it’s always best to verify independently. Trust, but verify. The small cost of a title search is a worthwhile investment compared to the potential financial and legal headaches of acquiring a motorcycle with a clouded title. Remember, you are responsible for clearing any existing liens after the purchase if a lien search wasn’t conducted beforehand.
Ignoring the Starting and Running Condition
While a visual inspection is crucial, it’s even more important to assess the motorcycle’s mechanical condition. Ideally, you want to see and hear the motorcycle running before committing to a purchase. However, impound lots often have restrictions on starting the vehicles due to battery condition or safety concerns. If possible, try to convince the impound lot staff to at least attempt to start the bike. Listen for any unusual noises, such as knocking, rattling, or grinding, which could indicate serious engine problems. Even if the bike starts, let it run for a few minutes to check for overheating or other issues.
If starting the bike isn’t possible, try to turn the engine over manually. This can give you some indication of its condition. Also, check the condition of the battery and other electrical components. A dead battery might be a simple fix, but it could also be a symptom of a more significant electrical problem. If you’re not mechanically inclined, bringing a knowledgeable friend or mechanic is even more important in this scenario.
Overbidding and Ignoring the True Value
The excitement of an auction can sometimes lead to overbidding. It’s easy to get caught up in the moment and pay more than the motorcycle is actually worth, especially when multiple people are bidding. Before attending an impound motorcycle auction, do your research. Find out the fair market value of the particular make and model in good condition. Websites like Kelley Blue Book and NADA Guides are excellent resources. Also, factor in the cost of any necessary repairs or maintenance.
Set a budget for yourself and stick to it. Don’t get drawn into a bidding war that exceeds your financial limits. Remember, you’re buying an impounded motorcycle, not a brand-new one. The goal is to get a good deal, not to break the bank. If you miss out on one bike, don’t worry; there will always be another opportunity. Patience and discipline are key to success in impound motorcycle auctions.
Forgetting About Additional Fees and Costs
The final price you pay at an auction isn’t the only cost you’ll incur. There are often additional fees, such as auction fees, storage fees, title transfer fees, and taxes. Be sure to factor these costs into your budget before bidding. Also, consider the cost of transporting the motorcycle from the impound lot to your home. Some impound lots offer towing services, but you might need to arrange your own transportation. Don’t forget the cost of insurance and registration, which are required before you can legally ride the motorcycle on public roads.
Beyond the immediate costs, remember to factor in the potential expenses of repairs and maintenance. Impounded motorcycles often require some degree of work, so be prepared to invest time and money into getting the bike roadworthy. Having a realistic understanding of all the potential costs will help you avoid unpleasant surprises and ensure that you’re truly getting a good deal.
Conclusion
Purchasing an impounded motorcycle can be a rewarding experience, but it’s essential to approach the process with caution and knowledge. By avoiding these five common mistakes – failing to inspect, skipping the title search, ignoring the starting condition, overbidding, and forgetting about additional fees – you can significantly increase your chances of finding a great deal and riding away with a motorcycle you’ll enjoy for years to come. Remember to do your research, be patient, and don’t let the excitement of the auction cloud your judgment. Happy riding!