SoFlaSportbikes.com - South Florida's Sportbike Community SoFlaSportbikes.com - South Florida's Sportbike Community

Go Back   SoFlaSportbikes.com - South Florida's Sportbike Community > Motorcycle Discussion > General Motorcycle Discussion


Forum Sponsor

» Weather
Weather information for SoFla:


Would you like to see the riding weather for your location?

Please register with our website and remember to fill in your zipcode.

When you return your local weather will be displayed.

Reply
 
Thread Tools
Old 05-03-2010, 07:15 PM   #1
Amateur Racer
 
Join Date: Jun 2009
Location: FL
Posts: 112
Pilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these parts
Lightbulb How do you sell a motorcycle that is currently financed?

I am thinking on selling my 05 cbr600rr. The bike is financed by a private and local motorcycle finance company. I owe about 1 1/2 yrs of payments on the bike.
Has anyone here on the site ever done this before? If so, would you please give me some tips on how to do it properly and safe for both parties?

Thanks guys.

Ps: I want to sell it, and not give it to someone else to take over payments.
Pilot27USA is offline   Reply With Quote
Old 05-03-2010, 08:16 PM   #2
So ban me...
SoFla Supporter
 
185mph's Avatar
 
Join Date: Apr 2007
Location: Boca
Posts: 2,453
185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute
Send a message via MSN to 185mph
Re: How do you sell a motorcycle that is currently financed?

It is not really legal to sell a bike when it technically belongs to the finance company. You could however part it out, sell everything but the frame, and once the bike is paid off and you get the title, you could sell them together. Or take a SIGNIFICANT loss and sell it to someone as a track bike which couldnt be registered. Or you could work something out with the buyer where he agrees to pay a pre determined amount and then you pay off the loan and wait a few weeks for the title and then collect the remainder. Just a few thoughts...
__________________
http://www.fearthegaychicken.org/
http://thingsididlastnight.com/

When god gives you lemons, GET A NEW GOD!!!

Call it what you want till your ready to call it what it is!

Go have a seat with the rest of the bitches waiting for me to give a fuck!
185mph is offline   Reply With Quote
Old 05-03-2010, 08:59 PM   #3
Amateur Racer
 
Join Date: Jun 2009
Location: FL
Posts: 112
Pilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these parts
Re: How do you sell a motorcycle that is currently financed?

By the way, could i give the buyer a bill of sell, pay off the loan and get the buyer the tile afterward? It's a local finance company, I don't think it would take too long to get the tile from them after its paid off.

Thanks 185mph.
__________________
SPEED IS LIFE, ALTITUDE IS LIFE INSURANCE!!!
Pilot27USA is offline   Reply With Quote
Old 05-03-2010, 09:01 PM   #4
UncleSito
SoFla Supporter +
 
Andre's Avatar
 
Join Date: Sep 2008
Location: Back In Miami!!
Posts: 4,337
Andre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond reputeAndre has a reputation beyond repute
Re: How do you sell a motorcycle that is currently financed?

Quote:
Originally Posted by Pilot27USA View Post
By the way, could i give the buyer a bill of sell, pay off the loan and get the buyer the tile afterward? It's a local finance company, I don't think it would take too long to get the tile from them after its paid off.

Thanks 185mph.
if its a local finace company take the buyer there and let him pay the remaining of the loan and the rst of the money can go in your poket
__________________
"People Change, Things Go Wrong, Shit Happends But Life Goes On!"

"Sito" LOD

" RIP KJ"
" RIP CATANGA"



Quote:
Originally Posted by DIDDY View Post
pulling out never works thats why you gotta have a girl who loves ANAL!!!:LOL

Quote:
Originally Posted by slowrthnu View Post
rut roe reorge. Im sorry let me say Im truly sorry by fuck you, fuck your mother, fuck your wife, fuck yourself, fuck your flip flops, fuck your icon jacket, fuck your bike, fuck your opinion, fuck your mouth, fuck my beer is empty, fuck I have to get up now!
Andre is offline   Reply With Quote
Old 05-03-2010, 09:02 PM   #5
3000 Post Club
SoFla Supporter +
 
phantom's Avatar
 
Join Date: Jan 2007
Location: Miami Fl, USA
Posts: 3,397
phantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond reputephantom has a reputation beyond repute
Re: How do you sell a motorcycle that is currently financed?

Have him refinance and take over payments......
__________________
RIP LINO,
phantom is offline   Reply With Quote
Old 05-03-2010, 09:11 PM   #6
So ban me...
SoFla Supporter
 
185mph's Avatar
 
Join Date: Apr 2007
Location: Boca
Posts: 2,453
185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute185mph has a reputation beyond repute
Send a message via MSN to 185mph
Re: How do you sell a motorcycle that is currently financed?

Quote:
Originally Posted by Andre View Post
if its a local finace company take the buyer there and let him pay the remaining of the loan and the rst of the money can go in your poket
__________________
http://www.fearthegaychicken.org/
http://thingsididlastnight.com/

When god gives you lemons, GET A NEW GOD!!!

Call it what you want till your ready to call it what it is!

Go have a seat with the rest of the bitches waiting for me to give a fuck!
185mph is offline   Reply With Quote
Old 05-03-2010, 09:41 PM   #7
Amateur Racer
SoFla Supporter
 
vance's Avatar
 
Join Date: Dec 2009
Location: Naples
Posts: 106
vance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond reputevance has a reputation beyond repute
Re: How do you sell a motorcycle that is currently financed?

If they're paying cash, they can go to your lender and pay the loan off.
If they're financing, they'll need the vin, mileage, etc. and their credit union/bank will pay your lender.
He won't be able to transfer title if your lender is still listed on the title if "you" sell it directly to "him". If his bank pays the loan off, you will have to take a notarized lien release with you to the court house to transfer title.
Or something like that....
vance is offline   Reply With Quote
Old 05-03-2010, 10:39 PM   #8
Amateur Racer
 
Join Date: Jun 2009
Location: FL
Posts: 112
Pilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these parts
Re: How do you sell a motorcycle that is currently financed?

Thanks for the tips guys.
Pilot27USA is offline   Reply With Quote
Old 05-03-2010, 10:41 PM   #9
Amateur Racer
 
Join Date: Jun 2009
Location: FL
Posts: 112
Pilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these partsPilot27USA is infamous around these parts
Re: How do you sell a motorcycle that is currently financed?

Quote:
Originally Posted by 185mph View Post
Quote:
Originally Posted by Andre View Post
if its a local finace company take the buyer there and let him pay the remaining of the loan and the rst of the money can go in your poket
I guess I'll try to do that. Its probably my best option. Thanks
__________________
SPEED IS LIFE, ALTITUDE IS LIFE INSURANCE!!!
Pilot27USA is offline   Reply With Quote
Reply

Bookmarks


Thread Tools


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sell my bike as is?... or fix and sell? bigjoe87865 General Motorcycle Discussion 1 06-07-2007 08:49 PM
SWEEET. Just Financed my new ride!!! motopsyko32 Open Discussion 10 03-28-2007 07:01 AM

Powered by vBadvanced CMPS v3.2.1

All times are GMT -4. The time now is 06:44 AM.


Powered by vBulletin® Version 3.8.7 Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright 2005-2012, SoFlaSportbikes.com. All Rights Reserved