Is it Possible to pay for used motorcycle in payments?

Question

I asked a previous question earlier. I want a motorcycle, but i dont have the upfront money. but easily can make the payments no problem. i went to the dealer and i couldn'tm get it because i have no credit and i recently moved to pennsylvania a week ago for school and everyone i know is in los angeles so, couldnt work that out.

my friend told me, that you can get a used bike from a private seller and work out a montly payment plan. He said his friend got his first bike that way.

is this true? and if so how can it be done? and how does the legal issues and stuff work like paperwork ?

Answer 1

Yes, it's possible. That's how I bought my first one as well. There's usually an existing relationship, though. I bought mine from the brother of the guy who owned the building where I worked. Also a kind of a "friend of a friend" deal. The only way to keep from running into problems with crashes, etc. is to set up the deal like I did. Draw up the bill of sale with the payment plan included. Pay a down payment. Record it on the paperwork. Make the agreed upon payments. Make sure they get recorded on the paperwork. When you make the last payment, record it and mark the paperwork "Paid in full". Take the bill of sale, and/or title, and go get it registered. Then go back and pick it up.

I found that the easiest way to keep the last owner from worrying about anything is "You keep it until it's paid for".

I have also bought cars from people I don't know using this method. It works best when the payments are a reasonable amount, and the deal only lasts a month or two. Weekly payment, etc.

Answer 2

if he was allowed to make payments to a seller his situation is unique. you will not find many people willing to sell you a bike on payments because if you crash it they are out of the money and or bike. or if you fail to pay for it they have to recover it. alot of nike dealers will finance you as a first time buyer, my stepson just bought an 06 busa 11,000 dollar bike with no credit so it can be done.

Answer 3

This would be a question for a seller, not for us. Speaking for me, if I have something up for sale, I don't know you, and I sure don't want to trust you to keep paying me every month for the next whatever. You want what I have, cash. Thank you very much. I imagine most feel the same way, but you have nothing to lose asking. Or ask your 'friend' to give you a loan, or co-sign for you at the bank.

Answer 4

whether you get an ironclad contract, I doubt a choose could help it if it had a undertaking later. Used issues are almost completely Caveat Emptor, except bought by utilising broking with a huge "guarantee" sign. you may seek for ease of commencing, sense of brakes/s seize/shifting, clean fluids, pinkish-tan plugs, stable compression, no important leaks, brake disks stable, no extra positioned on on pads or looseness, not something unfastened. look it up on the information superhighway, see if anybody had a undertaking with it. My Honda exchange into on a information superhighway, it have been given dissed for electric powered issues and not undemanding journey. call: convey computing device with on the spot interface. i think of it particularly is $35 in step with histrory document. . sellers can do it unfastened. you particularly could convey a pal who's accustomed to. ultimate to easily shop up, not dedicate to a freelance that isn't wash in courtroom. the only time I won in small claims is as quickly as I nonetheless had purple slip and guy did not pay in the two months he had. Wimp did not have guts to show in courtroom and settle on defaulted to me.* He additionally Reamed it. I discovered my lesson. Get the money Now, no time money. If he's keen to try this, you may comprehend he would not know You from Adam, the two, you would be able to desire to ream the motorbike and not in any respect make yet another cost, then he will could sue to assemble, and get a reamed motorbike. So, the deal sounds shady, it may not additionally be his to sell. i wouldn't in any respect try this except it exchange right into a pal of 40 years or a relative, I truthfully have discovered. Max Cruise: i choose an M/C. vehicle is down. Now i'm happy i offered it. Saves lots of gasoline working errands and getting vehicle aspects.

Answer 5

yes definately...well if u buy it used from a motorcycle dealer then they provide financing. or if u buy it from a private party then u can either get a loan from ur bank or a credit union for that. but the answer is yes. u can definately make payments for a used bike...just like a used car.