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Old 01-04-2014, 01:56 PM   #1
bcompton
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Is it legal to sell a motorcycle that a lien on?

I'm considering on selling my SV because I need to make room in my budget and need some cash to keep from digging myself in a financial hole. I read different stuff online but I'm finding conflicting information on the webs, shocking huh?

I was wondering if anyone else knows if it is legal to sell a bike in Texas, that still has a lien on it with from the manufacturer.
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Old 01-04-2014, 01:59 PM   #2
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you would have to explain that to the buyer, and sell it for atleast what you owe to pay it off so the buyer can get the tittle
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Old 01-04-2014, 02:03 PM   #3
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Bruiser, tell Rachel, Van, and Alexis at your shop their brother from another mother says hi!
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Old 01-04-2014, 02:13 PM   #4
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You sell it, pay off the loan, then send them the title. Is that your plan? If so, it happens all the time. Or do you plan on selling it, keeping the money, and not paying off the loan?
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Old 01-04-2014, 02:28 PM   #5
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Nah, pay off the loan! I don't want to damage my credit and risk a lawsuit or vengeance against myself!
I don't have the time to commit to the bike and I don't want to risk missing payments the way things have been going with my budget. Plus, I have a five month old daughter, and my wife gets worried any time I ride the SV.

But yeah, I just wanted to confirm with others because I read here and there and it was and was not legal to do so, and before I made a decision about selling I just wanted to make sure.

Appreciate the info guys!
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Old 01-04-2014, 02:35 PM   #6
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In the past I had the buyer pay off the amount owed. The bank sent the title directly to the buyer.
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Old 01-04-2014, 04:53 PM   #7
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I dont work there anymore bcompton but ill let em know
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Old 01-04-2014, 06:35 PM   #8
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I never pay off my t bc i'm always buying something else before i pay off the loan. It's normal. But easier sell when you have title in hand.
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Old 01-04-2014, 07:07 PM   #9
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If your lien holder is local, just have the buyer meet you there to complete the sell.....
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Old 01-05-2014, 10:21 AM   #10
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not the selling part but the grammar should be illegal

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Old 01-05-2014, 07:26 PM   #11
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You can't sell it with a lein. That's why it has to be paid off. That's just worked into the deal... one of you pays it off. banks, credit unions, and loan agencies can be a total kick in the to work with... ESPECIALLY when trying to transfer names or pay it off. It's like they make up their own rules.
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Old 01-05-2014, 09:18 PM   #12
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Hope you are not upside down. If so, you will need to have cash to cover the remaining balance in order to pay it off
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Old 01-06-2014, 08:53 AM   #13
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The whole point of a lien is that you cant sell it without paying it off. That being said its very common to work something out between the lien holder and the buyer.
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Old 01-06-2014, 11:25 AM   #14
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Quote:
Originally Posted by bluewave18 View Post
Hope you are not upside down. If so, you will need to have cash to cover the remaining balance in order to pay it off
The last bike my girl bought was sold for less than the Prev Owner had left to pay. He had to pay up $500 to get rid of it.
We were thinking "man, this guy really IS scared of the bike".
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Old 01-06-2014, 11:27 AM   #15
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Quote:
Originally Posted by chevy42083 View Post
The last bike my girl bought was sold for less than the Prev Owner had left to pay. He had to pay up $500 to get rid of it.
We were thinking "man, this guy really IS scared of the bike".
I watched a guy hand over 1000.00 to sell me a bike. He got when he bought it and his interest was way too high
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Old 01-06-2014, 11:41 AM   #16
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Quote:
Originally Posted by bluewave18 View Post
I watched a guy hand over 1000.00 to sell me a bike. He got when he bought it and his interest was way too high
Hopefully he enjoyed it while he had it.

This one was 4yrs old, ~500miles. Said it scared him. He even paid to move it from out of state. She bought it for 1/2 of MSRP if I remember correctly... so i think he took a beating on it.
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