Quote:
Originally Posted by VaFish
I can think of several rational reasons to sell a bike while you still have a lien and owe money on it.
1. Bought Ninja 1000 as first bike and it scared the crap out of them, now they want a smaller bike. (had a co-worker buy a Hyabusa as his first bike, it came up for sale pretty quick)
2. Bought new bike, 6 months later get offered great job out of the country, can't bring bike with you. (I had this happen when I had 2 cars with liens on them that I had to sell)
3. Bought new bike, close riding buddy gets killed in accident and you decide to stop riding.
4. Bought new bike, meet girl, get married, she hates bike and starts bugging you to sell it. (had similar thing happen to my brother in law, but it was a boat not a bike)
5. Bought new bike, financed for 48 months, 24 months later you and wife decide to have baby, realize with baby around won't have a lot of time for riding so you decide to sell bike.
6. Bought new bike, rode it for 2 days and dropped it in a sandy corner. Got bike fixed and decided motorcycle riding wasn't for you. (happened to a former boss that bought a brand new Harley as his first bike)
Not saying bad financial decisions aren't more common than my scenarios, they may be. I'm just saying there are lots of reasons besides. You are correct to say you should go into the situation with eyes wide open, you should go into the situation expecting problems (not something I would deal with from 3 1/2 hrs away).
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Every one of those is of course a valid reason to sell a bike. And even more importantly, there is no judgment on what is a "valid" reason to sell. Heck, if someone wants to sell a bike because they don't like the color, and that's valid enough for them, there's no need to justify that decision to anyone at all.
But 5 of the 6 listed above are still great candidates for doing everything possible to remove lien prior to sale. If time is short (#2), there may not be any option other than trying to get whatever one can before hitting an immovable deadline - but that's the point, it will cost the seller money.