Pretty sure i got the rough end of the deal on this one..

[Pol Anorl]

purchased a bike last week, was from a good friend so he was fine with me paying when i had the cash.

dad said he would pay for it then i can pay him back (he hasn't yet)

bought the parts needed and its nearly ready to go
just waiting for tax and mot then its sold to a bloke round the corner.

now dads said when its sold he wants the money back for buying it. then split the rest half each..

im like ye sounds kind of fair untill you take out the £100 i spent on parts, the £83 for tax and mot and £25 for logbook leaving me with pretty much nothing.

Bikes registerd in my name.

if he goes and pays for the bike would that give him any part in the ownership?

pretty bitchy but i wana try sell it before he pays so i can take out what it owes me and pay the bloke and cut my dad out of the deal just give him some cash for picking it up for me.

Update: dads payed for the bike and now hes taken ownership of it calling it his bike

so its now his and ive forked out a shit load for parts that are still being deliverd and getting nagged to go get them.

don't do deals with your family they will try to screw you over.

tl;dr dad offered to lend me money to buy a bike then agreed to split profit dads now saying hes bought the bike and its his.

already spent a fair bit on it doing it up.
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[guile]

Nice family you have there

[Pol Anorl]

hes the only one i have left everyone else has left lol.

just curious if he has any ownership of the bike if he pays for it.

if so i need to sell it asap and pay for it myself.
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[Alpha-9]

Whoever's name is on the new keepers slip owns it, surely now?
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Fzr-600 1999

[Rncv]

V5 isn't proof of ownership.
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Current: 01' Bandit 600, 92' Goose 350
Previous: Lots!

[Pol Anorl]

[pendulum]

In theory it doesn't but if HE'S the one handing over the money, and later on denies he was doing it for your behalf as a loan, ie he claims he bought it himself and just let you register it, you're in trouble.

It's best to keep this loan separate.
E.g. Get the money off him. Pay for it with that money. Do what you want, then pay him back, plus a drink.
OR... don't borrow anything from your dad at all, and owe him nothing (tell him not to pay for the bike, you've made other arrangements...)
Him wanting half the profit starts to look like he's assuming/expecting part ownership.

[Marmalade]

Have you actually talked to him about splitting the actual profit made after taking all the costs of bike and parts?
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[Pol Anorl]

[pendulum]

Tell him you'll take then pay him back his money + £x and if he doesn't like it, don't worry you'll make other arrangements (ie sell the bike and then pay the original owner back directly) so he'll get nothing.
Balls in your court at the moment but not so if you let him pay for you

[Alpha-9]

Just borrow money from him and dont let him have anything to do with the bike

Or don't involve him at al to begin with, seems messy
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Fzr-600 1999

[Pol Anorl]

[Shaft]

Seems very simple.

The bloke you bought it from isn't in a rush for his money, so tell him you'll have it at the end of the week and pay him from the proceeds of the sale.

Dad not involved, all profit yours, job jobbed.
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[goto10]

Whoever has a receipt for the sale of the bike owns it (i.e. at the point of sale), so if your dad pays for it and gets the receipt then he owns it, V5 is irrelevant as far as this is concerned.
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[StormCrow]

[DrDonnyBrago]

Your old man sounds like a right twat.

Cut him out, either pay the mate when you have the cash or don't buy the bike. Don't involve anyone willing to shaft you over a few quid.

[goto10]

Maybe say you'll split half of the *profit*, i,e, after your costs. Then never ever involve him again.
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'12 NC700S & '12 CB600F Hornet [Stolen by some dickless twat] Suzuki GT500 shed

[Raffles]

Which part of the word ''profit'' does the thicko not understand? All costs must be included, not just the original purchase price. If he can't (or won't) see that then it would probably be best all round for you to get yourself a new dad.
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A good loser will always be a loser.

[Kwaks]

So bike bought for £100, tell the original seller you can pay him as soon as you sell it, and as you will get more than you thought you will bung him a bit extra.

Cut your dad out, tell him to learn the lesson that greed means people will look for alternatives.
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[Alex_B]

You sure he's your Dad and not a guy from the local pikey camp site down the road?

Have you tried talking this through and actually explaining about favours and family and shit like that?

"Everyone else has left" Really, nowt to do with him I spose?

Sorry mate, take matters in hand and get yer Old man to act like a proper Father!
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[Rogerborg]

I can't really follow the chain of which mugging pikey owes what to whom. Is there a diagram? Are you up a horse on the deal, or just a pony?
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[Fisty]

[Pete.]

[hellkat]

Your dad is out of order and needs a slap.

Part of the "selling on" costs should include the money you have also paid to get it into a saleable state.

So if you have paid (£100+83+25) and he has paid (whatever the original purchase price was) which should go back to each of you before any remaining "profits" are split.

Profits are what is left after all expenses have been paid for.
Parts, MOT and tax are expenses, as much as the original cost of the bike.
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[Pol Anorl]

updated thread i got screwed over.
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20:30:37 Pyro.: I don't sort of like men, I take every advantage to choke on dick.
Jewlio Iglesias: You live in Liverpool - Chances are, the front door has already been kicked off the hinges