Factory Edition questions

dtl210
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5/4/2021 6:40am Edited Date/Time 6/7/2021 11:05pm
I apologize in advance for the newb questions.

I'm looking at a used 2020 Factory Edition with 17 hours on it. As the 2nd owner of this bike, am I able to go to my dealer and purchase replacement factory edition plastics for it? How does that process work?

The bike is currently financed through KTM according to the owner. I will pay cash - how do I ensure that the owner pays off his loan and I get the title in a timely manner?

Thanks!
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soggy
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5/4/2021 6:50am
I think if you have the vin you can buy the plastics

But the second question is the important one. Really the only way I can think of doing it would be to go to the dealer with him to do the purchase of the bike there and have him pay off the loan with you there. But it’s still sketchy because as soon as you give him the money he can do whatever he wants with it and you won’t have a bike. Someone else may have a better idea.
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drivrswntd
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5/4/2021 6:58am
KTM loans are typically through Freedom Road Financial. I would cut a check to them for the payoff and then pay him cash for any remaining balance to ensure that it gets paid off and addressed properly.
Preston412
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5/4/2021 7:32am
With a lien still on the bike, it can be sketchy as mentioned. Do not try to do this on your own, it will not turn out good for you.

You can go through your bank with him there so he can sign off on the paperwork or you would have to find a dealer who is willing to handle the money exchange and paperwork.

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PNWRider
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5/4/2021 7:38am
As others said above, try to go to the bank that the loan is through and do it there. He gets the remaining balance (purchase price minus outstanding loan principal) and you know your money is paying off the loan. Do not under any circumstances give him the money with any promises to pay off the loan and mail you the title, etc.

I’ve even gone to my bank when I was the seller:

-public meeting place
-they can count the $ and verify actual currency (counterfeit is not as uncommon as you’d think)
-they deposit it so I’m not walking out with a stack of cash
-I sign title over in front of bank staff so he/she has a witness that bike is theirs
-bike comes out of my truck into theirs after above is complete.
4

The Shop

PNWRider
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5/4/2021 7:43am
Forgot to mention...thanks for the post. Getting an FE myself next weekend. Had no idea the plastic was restricted, but makes sense.
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drivrswntd
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5/4/2021 7:50am
PNWRider wrote:
Forgot to mention...thanks for the post. Getting an FE myself next weekend. Had no idea the plastic was restricted, but makes sense.
Correct. Any special parts on FE's can be ordered with a Vin #
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dtl210
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Post Falls, ID US
5/4/2021 8:03am
Thanks everyone. The current owner is traveling 5-ish hours to a race near me and bringing the bike with him for me to look at, so that complicates things a little more. So it's not like we can meet at the dealer that it's financed at, I will look into the bank option a little further.
soggy
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5/4/2021 8:46am
Honestly I would pass. Wait for another bike that isn’t under a lien and 5 hours away. If it was just one of those variables it’d be easier to manage but 5 hours away and he doesn’t own it. Sounds like a headache.
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mxb2
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5/4/2021 9:04am
soggy wrote:
Honestly I would pass. Wait for another bike that isn’t under a lien and 5 hours away. If it was just one of those variables it’d...
Honestly I would pass. Wait for another bike that isn’t under a lien and 5 hours away. If it was just one of those variables it’d be easier to manage but 5 hours away and he doesn’t own it. Sounds like a headache.
X2,. Imo. Wait also. Cause once you leave the title will vanish, get it all at once . I ve seen others get screwed by waiting for a title in the mail. The seller vanishes.
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Moto_Geek
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5/4/2021 10:12am Edited Date/Time 5/4/2021 10:13am
dtl210 wrote:
I apologize in advance for the newb questions. I'm looking at a used 2020 Factory Edition with 17 hours on it. As the 2nd owner of...
I apologize in advance for the newb questions.

I'm looking at a used 2020 Factory Edition with 17 hours on it. As the 2nd owner of this bike, am I able to go to my dealer and purchase replacement factory edition plastics for it? How does that process work?

The bike is currently financed through KTM according to the owner. I will pay cash - how do I ensure that the owner pays off his loan and I get the title in a timely manner?

Thanks!
The pay-off is arrange with the finance company. You pay the KTM finance, they complete the transaction for you and get you the title. Then money goes to owners balance and he either will still owe KTM or amount will be paid off for him and give him the difference. For private party, you go to their bank if it's a local loan.
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5/4/2021 10:44am
I always think it’s not worth the hassle. It’s your money and probably 4-5 other bikes that you won’t have to jump through hoops to buy on the market.
1
dtl210
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5/4/2021 10:58am
I always think it’s not worth the hassle. It’s your money and probably 4-5 other bikes that you won’t have to jump through hoops to buy...
I always think it’s not worth the hassle. It’s your money and probably 4-5 other bikes that you won’t have to jump through hoops to buy on the market.
I wish there were 4-5 other bikes out there, but at least around here there just isn't much of anything for sale that fits what i'm looking for. My back-up plan is to put a deposit on a 2022.
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soggy
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5/4/2021 2:53pm
I always think it’s not worth the hassle. It’s your money and probably 4-5 other bikes that you won’t have to jump through hoops to buy...
I always think it’s not worth the hassle. It’s your money and probably 4-5 other bikes that you won’t have to jump through hoops to buy on the market.
dtl210 wrote:
I wish there were 4-5 other bikes out there, but at least around here there just isn't much of anything for sale that fits what i'm...
I wish there were 4-5 other bikes out there, but at least around here there just isn't much of anything for sale that fits what i'm looking for. My back-up plan is to put a deposit on a 2022.
I see your in Idaho, I’m in Utah and the used bike market is so inflated right now it really doesn’t make sense to buy anything but new. Not sure how good of a deal you’d be getting but I’d buy new or just not from this seller. It’s going to be pretty much impossible for you to buy the bike this weekend cause he can’t get the title so one of you is going to have to drive 5 hours to meet again.
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dtl210
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5/4/2021 3:15pm
soggy wrote:
I see your in Idaho, I’m in Utah and the used bike market is so inflated right now it really doesn’t make sense to buy anything...
I see your in Idaho, I’m in Utah and the used bike market is so inflated right now it really doesn’t make sense to buy anything but new. Not sure how good of a deal you’d be getting but I’d buy new or just not from this seller. It’s going to be pretty much impossible for you to buy the bike this weekend cause he can’t get the title so one of you is going to have to drive 5 hours to meet again.
This FE is actually a pretty decent buy even if it weren't covid pricing, so that's why I'm considering it. Turns out he's the Chief of Police for his town, and if I do decide to buy it will be a cashiers check direct to the lender like mentioned above and he will sign a release of interest form from the DMV.

It's all if's and but's right now - I haven't even seen the bike in person yet, just wanting to be prepared if it happens to be the right deal.

Appreciate all of the advice.
Spooner
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Kansas City, MO US
5/4/2021 4:48pm
22's will be hitting the shops pretty soon, that's what I would do.
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yz133rider
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Avondale, PA US
5/4/2021 4:54pm
soggy wrote:
I see your in Idaho, I’m in Utah and the used bike market is so inflated right now it really doesn’t make sense to buy anything...
I see your in Idaho, I’m in Utah and the used bike market is so inflated right now it really doesn’t make sense to buy anything but new. Not sure how good of a deal you’d be getting but I’d buy new or just not from this seller. It’s going to be pretty much impossible for you to buy the bike this weekend cause he can’t get the title so one of you is going to have to drive 5 hours to meet again.
dtl210 wrote:
This FE is actually a pretty decent buy even if it weren't covid pricing, so that's why I'm considering it. Turns out he's the Chief of...
This FE is actually a pretty decent buy even if it weren't covid pricing, so that's why I'm considering it. Turns out he's the Chief of Police for his town, and if I do decide to buy it will be a cashiers check direct to the lender like mentioned above and he will sign a release of interest form from the DMV.

It's all if's and but's right now - I haven't even seen the bike in person yet, just wanting to be prepared if it happens to be the right deal.

Appreciate all of the advice.
I wouldn’t be as worried considering he seems to be reasonable to work with, is going to meet you and is a police chief. I’d say if you sign a bill of sale together it’ll be a smooth process, trust your instincts, if he seems stand up and responsible it will be what you’re looking for.
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dtl210
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Post Falls, ID US
6/7/2021 7:42am
Update: the seller seemed like a good guy and the bike was clean so I went ahead and bought it. At the time of purchase he signed a released of title and had it notarized, I gave him cash and then he paid off the loan on the spot.

Title came in the mail yesterday, overall everything went great just a little more hassle than I'm used to.

Shaggin589
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Gallatin, TN US
6/8/2021 7:29am
I’ve bought and sold multiple bikes while having a loan on them. It really comes down to the vibe you get from the seller. When I sell a bike with a loan on it I offer a bill of sale, copy of driver license, etc. Yes it’s a little more hassle and risk for the buyer. I also provide proof of immediate payoff. The one thing that messed me up was I paid my Scheffield loan off with my debit card online last time and that made them hold it for 30 days. Luckily the buyer was understanding as I sent him the email. Congrats on the new bike and glad to hear you got your title fast!
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