For Sale: 2006 ZX-10R, Green

[jtemple]

I'm making the move to dual sport riding late this year/early next year and need to sell my bike to do so.

Craigslist Link

[jtemple]

Bump, just linking the craigslist ad so we're all on the same page!

[pauldun170]

I do not have the title in hand. I still owe money on the bike. When you buy it, I will use your money to acquire the title.

Thats a red flag

[jtemple]

I know, but you gotta do what you gotta do. I've sold bikes like that before and there were no problems. I'm honest.

[pauldun170]

Originally Posted by jtemple

I know, but you gotta do what you gotta do. I've sold bikes like that before and there were no problems. I'm honest.

Last time I had a leinholder it was stamped on the title.

[jtemple]

Originally Posted by pauldun170

Last time I had a leinholder it was stamped on the title.

Yep, there's a stamp on the title. The bank also holds the title. Once you pay off the loan, they sign off on the lien and mail you the title.

[pauldun170]

Originally Posted by jtemple

Yep, there's a stamp on the title. The bank also holds the title. Once you pay off the loan, they sign off on the lien and mail you the title.

Damn...
Thats annoying.

[101lifts2]

Originally Posted by pauldun170

Last time I had a leinholder it was stamped on the title.

The Lienholder holds the title in CA...but most other states do not.

[ontwo]

Originally Posted by pauldun170

Last time I had a leinholder it was stamped on the title.

Huh??? Of course the lienholder is on the title. The state puts it there, and the lender keeps it. They only stamp it when the title is released.

Originally Posted by jtemple

Good idea. But, the bank won't give me the title on the spot. The loan is through Navy Federal Credit Union. They don't store the titles at their branch offices. It takes a week or two to get it in the mail upon payoff. I'd still be happy to go to the branch office with the buyer to show them that their money is indeed paying off the loan.

That's a good idea. That way the buyer can give the banker his forwarding information. Now you come to an even trickier situation if the buyer is borrowing. If that is the case, the two bankers need to talk and coordinate the transaction.

[pauldun170]

Originally Posted by ontwo

Huh??? Of course the lienholder is on the title. The state puts it there, and the lender keeps it. They only stamp it when the title is released.



That's a good idea. That way the buyer can give the banker his forwarding information. Now you come to an even trickier situation if the buyer is borrowing. If that is the case, the two bankers need to talk and coordinate the transaction.

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.