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bike loan/lien Q


Benyen Soljax

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when you get a loan, the bank puts a lien on the title. basically making it theirs until the contract of the loan is finished. he can sell you the bike and give you the title, but until he pays the loan off the lien is on it.

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The loan is the loan itself and the lien is the form of security (with all the signatures) over the bike to secure the payment of the debt and the lien-holder (bank) owns the bike. They own the official title. He probably has the paper copy he used to get his license tags. :lol: I'm betting probably. :lol:

Just like when I sold my bike, I paid it off in cash that playerpro gave me and then the bank gave me the document signed by them that there is no longer a lien holder on my bike and that Wright Patt Credit Union had no more interest in my bike. I then went to the title office and did all the paperwork with playerpro and the title went in his g/f's name and all was said and done.

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The loan is the loan itself and the lien is the form of security over the property to secure the payment of the debt and the lien-holder (bank) owns the bike. They own the official title. He probably has the paper copy he used to get his license tags. :lol: I'm betting probably. :lol:

Just like when I sold my bike, I paid it off in cash that playerpro gave me and then the bank gave me the document signed by them that there is no longer a lien holder on my bike and that Wright Patt Credit Union had no more interest in my bike. I then went to the title office and did all the paperwork with playerpro and the title went in his g/f's name and all was said and done.

This makes more since because how can someone put a lein on something that you actually own. Meaning having the title.:dunno:
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He may have the paper title, different states do it differently, but that title (no matter what state you're in) means absolutely nothing if there is still a lien filed.

+1, sounds complicated and I think once you dig deeper and start having to deal with the bureaucracy that is the NH state DMV to get a lien cleared that doesn't really belong to you, but is now on your title -- it's going to be a lot of your time and hassle. I dunno, honestly I don't have much experience and I can't find any concrete answers on DMV sites, but I do know people that transfer ownership on vehicles all the time that aren't paid off... you might want to sniff around a car dealership, pretending to be interested in something and throw out a scenario about a 'trade in that you still owe money on' and ask how they handle the title. :confused:

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asked the guy how much he owed on it and he told me its irrelevant. :dunno:

With that type of response, I think this sale would be irrelevant.

If you were to buy it and he stiffs you on the lien, then you better believe I'd at least know what the payoff amount would be should some flatbed show up in the wee morning hours and haul off a bike I just 'bought'.

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With that type of response, I think this sale would be irrelevant.

If you were to buy it and he stiffs you on the lien, then you better believe I'd at least know what the payoff amount would be should some flatbed show up in the wee morning hours and haul off a bike I just 'bought'.

+1. Plenty of other bikes out there, I would stay away from this one at this point.

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