Topic: Purchasing a 550, have a few questions

[OldSkool]

Hello,

I've been a lurker in these forums for quite some time due to the fact that I haven't had much to contribute. I've just been trying to learn as much as I can about these great motorcycles. I have always loved these old 70's Honda Motorcycles. I was recently presented with the opportunity to purchase a 1975 CB550K with roughly 20,000 miles and I have a few questions about the purchase process.

For one thing, the bike has no title. I happen to live in a state where it's not required to register the bike but I'm wondering how something like that should affect the price of the bike. Also, cosmetically the bike isn't too bad. All the parts seem to be there with the exception of the fact that it has a non original style seat and some kind of aftermarket 4-2 exhaust which is somewhat rusted anyway. It needs tires, probably new rims and spokes, and it doesn't have a battery. On a scale of 1-10, 10 being the best, I would rate this a solid "5". The current owner got it from a neighbor who kept it outside under a tarp here in the northeast. The seller wants $600 but I feel that given what I've seen selling between $1000 and $1250 ("8's" on a scale of 1-10) and the fact that it has no title that might be too high of a price.

I know it's hard to put an exact value on these bikes but given the title situation and the other things I mentioned am I off base in my thinking on price?

Thanks very much and I'm glad to finally be a registered member of these forums and hopefully a soon to be 550 owner.

[Gordon]

I stopped reading at the "no title".  Others may feel differently, but that's always a deal breaker for me, unless the bike is free.  Hell, even then I'd still be sceptical.  There are still plenty of these bikes out there with good titles to have to deal with the hassle of buying/owning one that doesn't come with one.  There are still services available for getting a title for an un-titled bike, but many states are making it more and more difficult to make this happen. 

If the person selling the bike is the true owner, he should be able to get a replacement title fairly easily.  If he won't do it, then do you really want to buy a bike from someone who probably isn't the true owner?   

[TheHun]

No title no bike. FYI, if it is reported stolen and you have possession of it, you can get charged with receiving stolen property FYI, or if the previous owner reports it stolen once you have completed your transaction, he can report it stolen too.

If you do get the bike. At least get a notarized letter stating the VIN, price and such to cover your rear end

[OldSkool]

That's pretty much what I was thinking. While I would be willing to assume that the bike isn't stolen given his personal character, I guess you never know. Also my state does not allow for the re-issue of a title for a motorcycle if it's lost. This is not the first time I have come across a motorcycle with no title in this state as well. 

Thanks for the replies.

[Gordon]

Also my state does not allow for the re-issue of a title for a motorcycle if it's lost.

Even if you're the owner on record?  That seems kind of extreme, and discriminatory.

[NickC]

Alabama doesn't require a title for ANY vehicle 1974 and older

[OldSkool]

Also my state does not allow for the re-issue of a title for a motorcycle if it's lost.

Even if you're the owner on record?  That seems kind of extreme, and discriminatory.

I should have worded it differently. If you're the current owner and you lose the title you can still get a replacement. If it changes hands without a title you're out of luck. You're unable to get a title assigned to the motorcycle once it changes ownership without it.

In my state you don't need a title for a motorcycle more than 15 years old.

I guess if I were planning on doing a Cafe or something I would probably still go for it. The dilemma is that I am looking for a CB that I can rebuild/restore back to as close to original condition as I can get it. I guess it would be a shame to go through all that work and in the end not have a title for the bike.

[swan]

CB550 are great bikes.

Before you buy, check your state's laws carefully and have the seller fill out and notarize a Bill of Sale giving you a legal record of your purchase. Also a sellers statement to why there is no title is helpful when titling it and covers your ass. If you want, I can e-mail you a generic blank Bill of Sale form in Word doc.. Fill it out with your and the seller's information.

I have titled many bikes I bought without titles without a single problem, but have heard horror stories from others.

[Duke McDukiedook]

Yep, bill of sale notarized if you can't get a title like Swan said. Try and apply for a title if you can with your state.

[TwoTired]

To restore a bike like the condition described is going to take about $1000 in parts, and more like $2000 if you go with stock exhaust. ( Plus a lot of labor)

Is a bike with no title worth that final amount in your state?  If you decide to sell it out of state, it will need a title.

IMO a bike without a title is a parts donor bike.

Also, I disagree with your rating of the bike.  If it needs new wheels and spokes as well as tires it is at best a 3.  If there is ANY tank rust/frame rust, it's a 2, and most likely a parts bike.  Rusty parts usually means a complete electrical refurb for all connectors.

As much as I like the 550's this one I'd let rotting under the tarp until the owner was more reasonable,  $300 max WITH a title.

[Duke McDukiedook]

I concur with TT. $300 max. Let some other chump pay more, you won't regret it.

[swan]

I paid $150 for this. I cleaned, painted, new carb kits, bars, tires, muffler etc for $800 and she has never let me down. One of my favorite bikes. Look around and be patient you'll find something better with a title.

[fmctm1sw]

Getting a title for a bike made before 1975 is a simple $85 proposition.  That is, IF it doesn't pop up as stolen or something.  I just used ITS Titles to title a '72 350F I have.  Any newer than '74 though, I'd call them and ask first.  The northeast is flush with bikes compared to where I'm at though.  You may find an even better deal if you look around like others have said.