It is an interesting concept, but I do agree that unless the loan is secured using the $10k bike as collateral, I don’t see a method of repossessing it.

Plus, there is no registration/licensing requirement, like cars, boats, planes. A bike, or any other personal possession, can be sold without any record.

Basically you buy a $10k bike on credit and sell it for $5k and buy a $5k bike with cash. No one could find your sold $10k bike to re-possess it.

John