she said she doesn't have a title yet because she is financing it.
she said if I buy it she will pay it off and do a title transfer.
Is there any risk for me in this?
when I pay, i don't get a title?
Then what do I get?
2006-11-25 08:45:06 · 7 answers · asked by 7updude 1 in Cars & Transportation ➔ Motorcycles
I think she needs my money to pay off the title.
Then she would do a title transfer to me.
2006-11-25 08:52:23 · update #1
you sign a legal contract that she pays off the bike within a certain time frame and produces you the title or the transaction is void and she owes you a full refund
2006-11-25 08:47:24 · answer #1 · answered by scottb03gt 4 · 1⤊ 0⤋
I have the same problem but on her end ,I want to sale bike but I still owe on it , Find out how much she still owes on it so you can talk to the finance place and tell them your buying the bike and need title , it takes about 10 days and a lot of trust on your end , depending on finance company and your credit they sometimes will transfer payment over to you ,Good luck
2006-11-26 07:45:37 · answer #2 · answered by Terry S 5 · 0⤊ 0⤋
Go to the place where you pay taxes on cars. tell them your story and they will write a paper and have it notarized ( making it a binding and legal contract) saying thats what you are going to do. If you give her the money and take the bike then she doesnt pay it off they will reposses it, plus you cant put it in your name or license it till you have the title.
Just make sure that the money you are giving her is enough to pay the bike off in full. you dont want to have to wait for her to finish paying it off.
2006-11-25 16:54:16 · answer #3 · answered by notebookdreams 1 · 0⤊ 0⤋
Go with her to the bank and have her sign the title transfer over to you. Also have her sign a noterized bill of sale, which guarntees that it's your bike.
2006-11-25 16:56:12 · answer #4 · answered by Anonymous · 2⤊ 0⤋
Dont do it, make sure you have title in hand prior to buying.
2006-11-26 04:21:59 · answer #5 · answered by smiddro 2 · 0⤊ 0⤋
nope....make sure u will be having all the papers including tittle paper once u give her the money....or u can do transfer all the money on u...
2006-11-25 16:49:43 · answer #6 · answered by nari 3 · 0⤊ 0⤋
DO NOT BUY THE BIKE
2006-11-25 16:47:26 · answer #7 · answered by Anonymous · 0⤊ 0⤋