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Old June 11th, 2018, 02:52 AM   #21
AwDang
ninjette.org guru
 
Name: Pat
Location: SW VA
Join Date: Feb 2015

Motorcycle(s): 286, 296, 599, 799

Posts: 436
Quote:
Originally Posted by Alex View Post
Assumption with good reason - as anyone who would want to make more money from the sale would pay off the bike ahead of time. Threads like these illustrate why buyers have a hard time with these deals compared to a cash in hand / walk away with title deal. It depresses the selling price. There's no rational reason for someone to sell a bike this way unless they absolutely have to, which means there are plenty of assumptions that can and should be made.
Alex,
I have to disagree with this point. I have a 1.5% loan on my bike. Why on earth would I take savings that are making more than that to rush and pay off this bike?

I’ve bought and sold bikes / car / and houses, all with liens. It’s easy to your due dillegance in the process. As stated, go to his bank, pay them, receive a BOS and paper work. Likely they will get a power of attorney from you and apply for the title in your name. If your getting a loan to buy it then it bacomes a bank to bank transaction. Clean, hands fee, just have to arrange pick up of the machine.
People are to scared because they don’t get educated in the process. The banks won’t let things go south because they have legal responsibilities to fulfill.
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