have some questions :[
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c'mon
Joined: May 2005
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From: Chesapeake
have some questions :[
well some issues came up and I most def. have to get rid of the bike
I took out a loan on it and owe more than what I can sell it for. My question is there a way I can sell the bike with a lien on the title or a way to register a bike with a lien on the title(my friend will buy it if theres a way)? any help would be appreciated and if I do sell it i'll be back on 2 wheels one day most likely on a 636
I took out a loan on it and owe more than what I can sell it for. My question is there a way I can sell the bike with a lien on the title or a way to register a bike with a lien on the title(my friend will buy it if theres a way)? any help would be appreciated and if I do sell it i'll be back on 2 wheels one day most likely on a 636
Last edited by Dmac; Oct 8, 2007 at 07:40 AM.
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Joined: Nov 2003
Posts: 354
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From: Va Beach
Re: have some questions :[
you need to call the bank, tell them someone else wants the bike, and he wants to take overpayments. They need to talk to him, so they can either approve the loan or not.
Or you can pay it all off first.
Or you can pay it all off first.
its not a trans am..
Joined: Mar 2005
Posts: 1,126
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From: in front of HISSN...
Re: have some questions :[
What you're asking can't be done. If there is a lien on the bike in your name, and you sell it for less than what you owe, the lien will stay in your name until you come up with the rest of the $$ and the loan is completely paid off. You can't register/title a vehicle in one persons name if there is a lien in someone else's name. Make sense?
Or you can do like Alwayslast suggested, and just see if the bank will let your friend take over payments on it (if that's something your friend would want to do).
Or you can do like Alwayslast suggested, and just see if the bank will let your friend take over payments on it (if that's something your friend would want to do).
Thread Starter
c'mon
Joined: May 2005
Posts: 2,440
Likes: 0
From: Chesapeake
Re: have some questions :[
What you're asking can't be done. If there is a lien on the bike in your name, and you sell it for less than what you owe, the lien will stay in your name until you come up with the rest of the $$ and the loan is completely paid off. You can't register/title a vehicle in one persons name if there is a lien in someone else's name. Make sense?
Or you can do like Alwayslast suggested, and just see if the bank will let your friend take over payments on it (if that's something your friend would want to do).
Or you can do like Alwayslast suggested, and just see if the bank will let your friend take over payments on it (if that's something your friend would want to do).
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