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|12-16-2012, 11:45 AM||#21|
Join Date: Jan 2011
Location: Fort Bend County
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Experience: 10+ years
2001 BMW R1150GS
1999 Kawasaki Concours
2003 Kawasaki Concours
True, if you are going to go through a bank. When purchasing a used bike, I always buy it outright so there is no bank involved. If they have a lien with a local bank, then I would consider it, but if the bank is out of town, then I would pass on the sale.
Like I said, most of time there is never an issue, but I don't want to be in the 1% that do.
Everyone is entitled to spend their money the way they wish. I think the OP was looking for opinions, and I was just simply offering mine.
Last edited by FortBendRider; 12-16-2012 at 11:48 AM.
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|12-16-2012, 02:16 PM||#23|
A Real Squid - USN 91-99
Join Date: Dec 2007
Location: MidTown Houston
Feedback Rating: (0)
This is a timely topic for me. After Christmas, I'm buying a 2009 HD from a guy who has the bike financed through his credit union.
We are going to meet up, and go together to his CU. I'll pay him/CU once there. I don't know if my purchase amount is more than he owes, or if he is coming out of pocket. It doesn't really matter to me, but nonetheless, some of the cash will go to the CU, and if there is any left over, I'll hand that amount to the sellar.
And thanks Patrick, I looked up those forms, and will have them with me when I go to the CU. Obviously, they are likely to already have them, but it never hurts to be prepared if they don't.
I'm also going to create a Bill of Sale, because how it is created is in my best interest.
In my case the seller is a cool guy and knows I'm one retentive guy, and appreciates that I'm doing most of the leg work.
On the flip side, I have Patrick covering my on the sale of my Ninja - in that situation, I don't have to worry about anything.