Welcome. "Pink slip" is synonymous with "title" or deed. Buying a motorcycle is really no different than buying a car. Never pay full; or asked price. When was last ridden, started, oil/ filter change, is there anything wrong with it, why are you selling it; etc., etc.. Assess the seller. If they look like a mutt reconsider. If his teeth are nasty; the teeth in the transmission likely are too People lie. No it's true; they do. Look, listen, and feel. Trust your gut. Don't be in too much of a hurry. Look around, and be diligent abou checking places like Craigslist, and Cycle Trader every day. The early bird gets the worm. Trust your gut. Oh; did I say that already. Ride it; hard. Wring it out. Have a knowledgable friend with you. Trust your gut.