The problem is the bank loan value on the vehicle cannot exceed what it’s worth; Otherwise the bank will be upside down on the loan in case of an accident or theft and they’re not gonna do that. they are not going to take that risk and loss.
Best way to protect yourself is to get a couple of appraisals to determine the actual worth of the vehicle when the seller is just making up, or in this case, doubling the number of a published blue book value. I always ask myself when I buy some thing or go to buy something can I turn around and sell it easily the next day for what I paid for it, or very close to it. if i can’t, then i move on to the next deal.
You know I think we should be looking out for the new person that comes to this forum wanting to buy a Z and not having much experience on how to do that. maybe it’s their first bike. What does it say about this forum and the people in it if we let other people join and get taken advantage of because somebody decided to join the forum two days ago so they can make a quick buck over a new persons ignorance? What does that say about your own morals and values? there’s an opportunity here to do the next right thing. i know where i stand and i try to say this all with respect, but i have to be able to look in the mirror in morning and see the person looking back at me. then when i ask myself if i think i’m a decent person i hopefully can answer yes, based on my actions.
https://pandora.app.link/Kva30mCBldb
