| Author | Message | ||
     Coastie71 |
I'm looking to sell my Honda VTX(just sits after I got the Buell). I still owe some money on it and the bank has the title. Is it possible to still sell it even though I dont own it out-right? Also this might throw a wrench into my plan but I currently live out of state to where the bike is registered (military). Also would a dealer buy it from me if I dont trade it in for something else? Any advice would be appreciated. | ||
| Pkforbes87 |
I'm currently stationed in Oklahoma and last year sold a vehicle with a title from my home state of Missouri with no issues. I had the title in hand, but there should be no issues for you either. As for the lien, you'll just have to find a willing buyer. They'll need to pay you for the bike and in return, they get the bill of sale, then you pay off your loan and give them the lien-free title as soon as you receive it from your bank. Personally, I would refuse to hand the bike over until the title is in the buyer's name. If that bike is involved in a crime or accident while the title is still in your name, you could be liable for any damages. As for selling it to a dealer, this should always be a last resort. Compare private party values to trade-in values on KBB. You'd surely have to accept less than the bike is worth. Otherwise, there's no room for the dealer to make a profit. | ||
| Dcc46 |
I bought a bike from someone in your position. I wrote 2 checks. One to the bank for the payoff amount and s second to the seller for the balance. I had the Lein release within a week. Wasn't s big deal. Just contact hour bank and find out how quickly they will get you the title after payoff. |
