For Sale: 2006 ZX-10R, Green

ontwo · 04-15-2010, 11:03 AM

Quote:

Originally Posted by pauldun170

My experience has been different.
I've always had immediate possesion of the title because I either bought it outright or it was done through the manufacturers finance arm. I didn't know that the some institutions held the title until payoff.

They are all suppose to hold til payoff

Quote:

Originally Posted by jtemple

The last one I did, the buyer had a cashier's check. I made him wait until the funds cleared before I let him take the bike home. When I got the title in hand, I gave it to him.

I am dumping money into the loan as we speak. I should have the bike paid for by fall if it's not sold by then.

You found a trusting buyer. Good luck with it

pauldun170 · 04-15-2010, 11:06 AM

Quote:

Originally Posted by ontwo

They are all suppose to hold til payoff

You found a trusting buyer. Good luck with it

State laws may vary.

Here, I received the title a month after purchase stamped with the lienholder. When its paid off, I get a letter indicating that the lein has been released.
Both are given to the buyer.

tommymac · 04-24-2010, 08:57 AM

Quote:

Originally Posted by pauldun170

State laws may vary.

Here, I received the title a month after purchase stamped with the lienholder. When its paid off, I get a letter indicating that the lein has been released.
Both are given to the buyer.

Same here and a month later they mailed me a title without a leinholder on it. May just be a NY thing though as i am not sure.

jtemple · 04-15-2010, 11:07 AM

Quote:

Originally Posted by ontwo

You found a trusting buyer. Good luck with it

Yeah I know. He was a good kid. If it doesn't sell before I have the title in hand, so be it. That just means more riding for me! If my bike sells right now, I have to sit out this season while I sock away money for the DS.

Particle Man · 04-22-2010, 09:14 PM

Congrats on the sale man

Quote:

Originally Posted by ontwo

They are all suppose to hold til payoff

that depends on the state DMV laws

in NY, for example, you get the title but the lein-holder is listed on the document (once the lein is satisfied, the bank issues a lein release that you can either send to the DMV and have a clean title issued or retain and provide with the original title as proof that the vehicle no longer has a lein).