[Lugnutz89]

ok...not yet..but soon. actually I have a question about buying. I've bought a lot of used cars in my time, but never have I ran across one that the bank still owned. When I find the right bike how do I handle buying it from an individual if it still has a lien on it?

 

[gum]

Don't. As cheap as these bikes are, If someone still has a lien on it, they may have money issues which usually lead to other issues and so on. They may just take your money and not payoff the bike. There are plenty out there with no liens to choose from. I dealt with this very issue when I was looking for my bike. Decided on the one with less aftermarket parts but was a fully owned bike. The other was one which had exactly what I was looking for but had a lien on it. Couldn't get myself to pull the trigger on it though. Too many unknowns you can't control.

 

[headcase]

I have both sold and purchased items that had a lien on them...Not to get to personal, but are you planning on paying cash, or financing?.....What I would do is this..

1. Find the bike you want
2. Check to see what it "books" for
3. Check to see what the "payoff" is (principal amount still owed)

If the price you are paying is at or above the lien amount you are ok...if the lien amount is more than the price you are paying that could be an issue....

If you are paying cash you can make arrangements to go to his/her their lending institution and let them take care of it...

If you are financing the deal most lending institutions (at least mine will) will take care of the payoff for you...

Bottom line...do some research and you will know what you can/can't get help with...

 

[Lugnutz89]

thanks for the info, hoping to avoid it all together but just wanted to be prepared.

 

[headcase]

thanks for the info, hoping to avoid it all together but just wanted to be prepared.

You are welcome...there are always a ton of reasons why we sell things...that sometimes is the easy part...taking care of the paying part can sometimes be a pain...

Guess I am saying don't let the fact that it may have a lien on it be an issue if it is the bike you want...

Not implying this is an issue, but if you want to make darn sure the seller is "legit" you can always ask any local LEO agency to check the vin# (ie..not stolen)...

You will find a great bike...when you do, enjoy making it your own....