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Thats how I get down baby
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Discussion Starter #1
well as you may know im selling my bike and i'll be the first to admit that im finacially retarded.

my question is about selling a bike i still owe money on. there's no way i can get enough to pay it off so thats out of the question. can i still sell it and keep the cash and still make the payments? i have the title at home but i dont know if/what/how to do with it. just need some quick advice, i appreciate it.
 

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Got lime? I do
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16,736 Posts
if the title is clear, then yes. if it has a lein on it, then no

btw, that sux man. if it makes you feel better, i'm financially retarded too. well, thanx to my ex.
 

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Powerhungry
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37,895 Posts
if u have the title in hand, you can do whatever the hell you want with the bike.

sell, it use the money against the loan(smart choice)
sell it, and use the money for something else(not so smart choice)

thanks buk

but how do i know if there's a lein on it?
if youve got the title, theres no lien against it.
 

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Thats how I get down baby
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1,287 Posts
Discussion Starter #5
if u have the title in hand, you can do whatever the hell you want with the bike.

sell, it use the money against the loan(smart choice)
sell it, and use the money for something else(not so smart choice)


if youve got the title, theres no lien against it.
thanks dude and i apologize for being a complete tool when it comes to this shit
 

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Premium Member
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10,463 Posts
title in hand with a lienholder on it, means you dont have shit but a piece of paper.
In order for him to get the title transferred over the lien will normally have to be paid off.
have delt with enough vehicle purchases from others that had liens when i bought the vehicle.
 

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Thats how I get down baby
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Discussion Starter #8
so i may as well quit being a little bitch, make budget adjustments and keep my bike.
 

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Sportbike Scum; Ex-Mod.
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4,215 Posts
YES

How far negative are you if you were to sell the bike?
Dude - nothing "bitch" about being in financial trouble.. it can (and does) happen to anyone. You might want to try consolidating your debt into one low-interest payment each month. The danger w/that is that you have to STOP spending, and make the payments reliably.
 

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Powerhungry
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sometimes you can have the title with a lien against it. it will say it on the front of the title, if i remember right its towards the middle - right side?
title in hand with a lienholder on it, means you dont have shit but a piece of paper.
In order for him to get the title transferred over the lien will normally have to be paid off.
have delt with enough vehicle purchases from others that had liens when i bought the vehicle.
must be a state by state thing.

as far as i KNOW(which could be way off) here in WA, if youve got the title, you OWN the vehicle.

i had a company try to repossess a 4wheeler once. i told the guy "go ahead, and load it up. i'll have the sheriff here in 5 min."

i had the title in the house. the guy left, and never bothered me again:D
 

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must be a state by state thing.

as far as i KNOW(which could be way off) here in WA, if youve got the title, you OWN the vehicle.

i had a company try to repossess a 4wheeler once. i told the guy "go ahead, and load it up. i'll have the sheriff here in 5 min."

i had the title in the house. the guy left, and never bothered me again:D
It is a state by state thing, some states you don't even get a title if you own it. A title with a lien on it as jdgun_13 put it is just a piece of paper since the bank has collateral interest on the bike you aren't the sole owner.

I don't see how selling your bike and still being in the hole, albeit less in debt is gonna help you financially. Better to have a good size debt and something to show for it rather than a smaller debt with nothing to show for it. I couldn't imagine paying a bill for absolute nothing.
 

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was gonna sell mine too. then i just said forget it, i'll do what i have to do to keep it. Debt is pressure & stress on your life, but if i have to get another job to do what i have to do, i'll just have to explore that option. Can't say that if someone came in with a decent offer that i wouldnt go through with it, but i can tell you i'd be back riding within the year. Do whats best for you ACC! sorry to hear your selling
 

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If you have a lien on the title and need to sell the bike for less than you owe you can look into getting a personal loan for the difference inorder to get the title. A potential buyer would probably want a bill of sale and some type of paper work stating they will receive the title within x amount of days or something along that line.
 
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