Best Way To Sell A Motorcycle With A Lien

Sell your motorcycle or edit your listing.

Best way to sell a motorcycle with a lien.

This way he can take out a personal loan or line of credit pay off the lien with that and then make payments on the new loan. Sell your motorcycle online with our basic package. You get it all. Escrow account for car sale.

Each lien holder has its own procedure for debt repayment. You can sell a motorcycle as a private owner by placing advertisements online or in local news papers. The easiest way to satisfy the lien is to ask the seller of the motorcycle to pay off the amount owed. Do not agree to a payment plan.

In order to sell the motorcycle you have to payoff the lien so that the new owner can take control of the vehicle without any third parties having claims on it. The seller will pay the bank your negotiated price you will get a check from the bank of any difference in the price paid and the bank will release the title to the seller. 1 video renewable featured on homepage and search and premium placement in results. 12 weeks online 50 photos.

That seems like the best way to go about it. You won t be able to sell your motorcycle until the lien is removed so your first step should be finding out how much you owe on your loan. My understanding is that you are correct that you can t sell the bike until it s paid off since the bank technically owns it. This is an automatic red flag.

If you are a mechanic for example and you repaired someone s motorcycle but the owner didn t pay for the repair or pick up the motorcycle you can place a lien on it. I think that dealership trade ins work because the dealership pays off the existing loan gets the title and blah blah blah. If the buyer finds this unacceptable walk away from the sale. This way you can verify if funds exist.

This is a safe way of accepting payment provided you select the service from a legitimate bank or attorney. If the seller tries to make money from selling the car to you without first paying the lien holder it could cause legal trouble for all involved. If you are selling a motorcycle with a lien on it you and the buyer will need to go to your financial institution together and complete the transaction there. After taking the required legal actions if you possess the motorcycle you may even be entitled to sell it at auction to recoup your costs.

This is the best option if the lien holder is the financing company lender. Payment plans for used cars. Our basic package is free.