bike loan/lien Q

[kawi kid]

sounds sketchy big time with a response like that

[Benyen Soljax]

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'.

understandable. but if i made him get me the title (him paying it off) before giving him any money, or went to the bank with him and gave them money after they give me the title, then there would be no tow trucks...right?

[zerocrash]

understandable. but if i made him get me the title (him paying it off) before giving him any money, or went to the bank with him and gave them money after they give me the title, then there would be no tow trucks...right?

Yes, as long as you are sure he was paying off the entire loan and having the lien released

[Disclaimer]

understandable. but if i made him get me the title (him paying it off) before giving him any money, or went to the bank with him and gave them money after they give me the title, then there would be no tow trucks...right?

The first scenario, sure. If he pays it off, then he should be able to present you with a title, free and clear and you can just pay him the money for it, and he signs over the title to you.

Going to the bank with the guy..that I don't know. I don't know if you can sit down with the loan officer and explain that you're paying off the title for this guy, and it needs to be signed over to YOUR name. You'd have to find out the particular lienholder's policies (I'm assuming it is a bank). And, if it's true that he owes more than the bike is worth -- how are you going to work that? Pay his loan off for him and expect him to cut you a check? Pay part of the loan + some he contributes? This route sounds way too complicated -- I'm using complicated in the sense that you're getting WAY more people involved in this process versus the 1st scenario, and call me a cynic, but the more people involved the odds are exponentially greater that someone, somewhere, along the way is going to fuck something up (paper work, losing stuff, etc) and then you're in for a long bumpy ride trying to correct it.

You must really want this thing bad to go through all this hassle and 'hand-holding' this guy through the process. I wouldn't have the time or patience to do it. The guy that's selling this seems to have no clue how the system works and is withholding relevant information from you, which is usually a sign that he's shady -- I'd just as soon walk away from this guy since it's 'caveat emptor' and I don't' think he's been honest with you.

[Benyen Soljax]

The first scenario, sure. If he pays it off, then he should be able to present you with a title, free and clear and you can just pay him the money for it, and he signs over the title to you.

Going to the bank with the guy..that I don't know. I don't know if you can sit down with the loan officer and explain that you're paying off the title for this guy, and it needs to be signed over to YOUR name. You'd have to find out the particular lienholder's policies (I'm assuming it is a bank). And, if it's true that he owes more than the bike is worth -- how are you going to work that? Pay his loan off for him and expect him to cut you a check? Pay part of the loan + some he contributes? This route sounds way too complicated -- I'm using complicated in the sense that you're getting WAY more people involved in this process versus the 1st scenario, and call me a cynic, but the more people involved the odds are exponentially greater that someone, somewhere, along the way is going to fuck something up (paper work, losing stuff, etc) and then you're in for a long bumpy ride trying to correct it.

You must really want this thing bad to go through all this hassle and 'hand-holding' this guy through the process. I wouldn't have the time or patience to do it. The guy that's selling this seems to have no clue how the system works and is withholding relevant information from you, which is usually a sign that he's shady -- I'd just as soon walk away from this guy since it's 'caveat emptor' and I don't' think he's been honest with you.

i appreciate your opinion, and i dont really care about this particular bike. i dont really need a bike right now, but if the right deal comes along, you know how it goes. plus, i havent done much work other than typing a few keystrokes and learning more about stuff that i should probably know about anyways. if it comes down to sitting at a bank trying to figure this out with a billion people and not buying the bike, then ill walk. but if he is just ignorant and slightly shady, and can pay off the loan and get me the title, then why not? i think hes the latter because his asking price was a little ridiculous (high). a scammer would probably do what this guy is doing, but have a much lower asking price so that he would get more of a response.

i really do appreciate all of your guys' help.

edit: he gave me the name of the credit union he has the loan with, still wont tell me how much he owes. i talked to the bank and they basically agreed with me and filled in some details. if i plan on buying it i should go with him to the bank and complete the transaction right there and he can pay off the loan and get me the title. if i want to speed things up, we can call ahead and have them take the title from their secure facility and transfer it to the local branch we wish to complete things at, then if he pays off the loan completely, they can hand over the title. maybe i can get a good deal out of it, who knows.