NEED HELP!!! Looking at my first purchase......

[Laughter13]

Well.... I have been researching for a year and have finally broke it to my wife, mother and family that I will be purchasing my first motorcycle. I am looking at a 1977 Honda CB550 Four on craigslist (attached image is of the ad). I have been trying to get a hold of the guy for about a month now and finally got through to him yesterday, so I wanted to post up my situation and see what people think of this purchase and how I should go about it.

Little background about myself:
I am a 29 year old Construction Manager/Estimator with several years of hands on building experience in residential and commercial construction. I have ridden dirt bikes and a few street bike, but never owned or worked on. I have lots of tools and know how that I will rely on as I go through the learning experience of owning a vintage bike. I live in Grand Rapids, MI and have been drawn to the cafe style for some time now. After lots of research, I have decided on a 500cc or so bike as a good starter for someone who wants not only to ride, but also to work on and customize. I have (1) friend who rides and owns a '78 XS650 who is not a mechanic by any sense, but has offered to help me look at a bike and show me the ropes while I am on my temporary permit. I have about $1,500 bucks to purchase a bike and get it in good solid running condition to make sure it is reliable and ready to start customizing.

The story with the 1977 Honda CB550 Four:
Found this bike a while back and have kept my eye on it. When i got a hold of the owner yesterday he sent me this message:

Here's the thing. When I put that posting up I was still in the states. As of now and until the around the middle of June I am in Australia. The bike is under covers on the street in Fort Wayne and I have given the key and the title to a friend of mine in case anyone wants to see the bike. I would hate for you to drive all the way from Grand Rapids without you having this information. I can show you more pictures if you like. Let me know how you feel about these details. The bike started in late October. When I tried to move it to storage late January, the battery wasn't juiced enough. So that's about all I know on my end. Let me know if you are still interested and we can arrange a time for you to speak with my friend and see the bike.

Now this leaves a lot of questions... Bike history, title clean and clear, rust from sitting on the street, negotiating over the phone, etc. I have requested for him to call me so we can chat.

Questions:
So... what do you guys think of the bike?
How would you approach this "out of country" seller?
What do you think is a good price?
How would you go about trying to "jump" the bike from a car?
Would you even try to jump a bike that is frozen solid on the street?
What would you look at when inspecting for purchase?
Any other suggestions?

Thanks for the feedback guys, i have been really relying on these forums to keep my confidence up!

 

[tsbigdog]

Welcome to the site. The first thing you absolutely want to make sure of is that the bike has a clean title. Without it you're wasting your time and possibly money. The whole thing sounds a little shaky to me, but that could just be the New Yorker in me looking for every possible way I could get screwed.

 

[VonYinzer]

Personally Id steer clear. Seems like too much room for something to go wrong, and you end up screwed. Also, for a first project, I suggest finding a twin that has a strong aftermarket. (Something like your buddys XS is great, or a Honda CB, etc...) Twice the cyilinders = twice the work and cost when things need replaced.
Good luck, and keep us posted!

 

[Sonreir]

Milage looks kinda high and if it won't start, that would affect the price as well. While you don't see to many 550Fs up on CL (at least where I am), a lot of people think these old Hondas are worth a lot more than they are. Only those that are in truly mint condition can fetch a decent price as Honda was THE manufacturer of the 70s. Rule of thumb for me is no more than $1 per cc for a bike that won't run. If the bike runs, has a title, and no major flaws, consider up to $2/cc. Any work that needs to be done should come off of the $2/cc price.

 

[Tim]

I can't really comment on the whole 'I gave the title and keys to my friend' bit, or how that would complicate the transaction. That's dependent on local laws and things.

So on to the bike. I owned a 1973 CB500K and a 1976 CB550F and loved them both. They're perfectly sized bikes, handle very nicely, run well and will take you over 100MPH no problem.

$900 is a lot for a bike of unknown condition. I'd suggest offering $400-$500 on the presumption it's in solid condition with little rust, it kicks over with reasonable compression (even if you only feel it through resistance in kicking it over) but won't start because of dead batteries etc.

Take a charged 12v battery with you to if nothing else, check the electrical. I wouldn't bother trying to start a bike that's been sitting in the cold for months.

If you pay $500 for it, and it doesn't need new pistons/rings etc. and the electrical hasn't been chewed up by mice or bad previous owners (check all lights, brake pedal, front brake lever), then you should have no problem getting it on the road and running well for under your $1500 budget, even if you pay someone to tune it up.

Working on the 550 is a breeze - the engine can be completely torn down and rebuilt without pulling the engine from the frame. The biggest challenge with any 4 cylinder bike is you have 4 cylinders. 4 carbs, four sets of valves, four pistons/rings... engine rebuilds can get expensive and tuning the carbs can be a challenge, but easily doable.

We also have the full service and parts manuals from Honda here for download in high quality PDF for the 550, so that's a bonus. Very nice bike to start on. The XS650 is perhaps easier to work on and customize, but frankly, vibrates like nobody's business. I can spend 30 mins tops at highway speed on my XS without cursing it (mine has been heavily modified with no rubber dampening left) but you could spend all day cruising on the 550 four.

It's big enough to ride across the country but small and nimble enough for in town use. Still one of my faves. Also a HUGE community of support over at the forums.sohc4.net site (where I started my motorcycling addiction).

 

[Laughter13]

You guys are AWESOME!!!!!

10 minutes after my post and full of information....

I agree that the $900 seems a little high for a bike that i may or may not be able to start, and that the story does seem a little shakey. My thoughts are, if he calls me on the phone, start some negotiation on the price, recieve more picitures, title is clean and clear and in hand, and the electrics are good when i gook up a new fully charged battery, then it might not be a bad deal for under $600.

Checked into the laws for buying a out of state motorcycle in Michigan. They absolutely wont register and title it without the current owners title. Because it is out of state, a bill of sale is not enough. I plan on getting the VIN before i drive down and having a cop i know run it to see if it is okay.

Thanks for the info guys... you rule!!!!!

 

[DrJ]

Owner of the bike is not with the bike. Move on.

 

[Laughter13]

Owner of the bike is not with the bike. Move on.

I think i can remedy this problem... I can email him a copy of the Secretary of State (DMV in Michigan) Bill of Sale Template and request that he fill it out (which includes pasting in a copy of your State ID). As long as the VIN on the Title matches the bike, and His ID matches the name on the Title (and the title is signed already), then the transaction could easily occur. Anyone disagree?

 

[VonYinzer]

Not sure about in Michigan. I know in PA, unless you have a really friendly Notary, you cannot transfer any title unles both partiies are present and have photo ID.

 

[Sonreir]

Wow... you guys have it rough. I registered mine in Oregon (no title) in about ten minutes. Took it to the DMV and the guy checked the VIN on the Bill of Sale and saw that it matched up with the frame and the engine. Had new title in hand a few minutes later.

 

[Erch]

Lots of great opinions in here already. I think I'll just add: try not to get too attached to one bike/add. If you've been waiting and looking this long, I'm sure you can find plenty of other Honda 550s even. Make sure you don't feel obliged to scoop up the thing just because you went out and kicked the tires too. If you show up and it's in bad shape, offer bad money for it or walk away. Many people will agree it's always a good idea to bring a buddy along when you check out a new bike, either to find something you missed, or to talk you out of an impulse purchase.

 

[Laughter13]

Lots of great opinions in here already. I think I'll just add: try not to get too attached to one bike/add. If you've been waiting and looking this long, I'm sure you can find plenty of other Honda 550s even. Make sure you don't feel obliged to scoop up the thing just because you went out and kicked the tires too. If you show up and it's in bad shape, offer bad money for it or walk away. Many people will agree it's always a good idea to bring a buddy along when you check out a new bike, either to find something you missed, or to talk you out of an impulse purchase.

Appreciate the good feedback... there have been a few cb550's out there, some good, some bad. This one looks pretty good, and i am thinking I can get it at a steal with this guy making things so complicated. I am planning on touching base with him in the next few days, so i will keep you up to speed on my interactions with him.

THanks again everyone!

 

[CobraRad]

If I were closer to Ft. Wayne, I would check it out for ya! If you are really interested in the bike, you should make the drive and check it out. I would first contact the seller and get the name/info of the person holding the title. Then ask that person to send you updated pics or a video walk-around of the bike. He could even scan and email a copy of the title, before going to check it out. I would bring a fresh battery with, rather than messing with an old/dead battery. JMHO... Tim

 

[Laughter13]

got some more pictures from the seller this weekend... though i would show some more condition of the bike and see what people think. Looks like a little more rust than i had thought, but nothing a little elbow grease cant fix, right?

 

[ariel.714 o/c]

yeah i would only offer him 450 o 500 for it. Buy a compression gage at pep boys there like 30 bucks, bring your own batt and gas. and try starting it. i agree with up top on there reply there are tons of bikes weight and find the right deal . Personaly i like that the dude is out of the country he might unload the bike for cheep, just make sure you get the bill of sale noteraised.

 

[psirus]

If you want a good bike in the Grand Rapids area, call up Ken over at Classic Snowmobile Repair. He's the best shop I've found in town and he restores everything before reselling. I got my CB550 (75') from him 2 years ago. Taking it back to him this spring to put a new seat, rearsets and lights put on. Great guy... good prices... They won't be $550, but they'll be worth it.

http://www.google.com/search?hl=en&q=vintage+snowmobile+repair+fennville&aq=f&aqi=&aql=&oq=