Or any other items to take care of before?
2007-09-06 04:25:19 · 11 answers · asked by baby_rost 3 in Politics & Government ➔ Law & Ethics
Call your bank and see if they have a form you can fill out to transfer the loan into the persons name. I know I was able to do this with a car loan, the bank charged a $100 fee, but it was worth knowing that if the person defaulted, my credit would not be ruined and I would not be the one getting the harassing phone calls.
Otherwise, tell the person they can take a loan out for the balance of the bike, pay you off and they would be responsible for making payments to the bank without you being financially responsible in any way.
2007-09-06 04:43:14 · answer #1 · answered by Colonel 6 · 0⤊ 0⤋
Riding 3-wheelers, 4-wheelers, and motorcycles is a bad idea for an epilepsy patient. Not for the seizure risk--that's always a risk when you drive anything. The risk is because of head injury. My doctor said that the average person can take an amount of head trauma and be OK, but that a person with epilepsy really doesn't have any wiggle room when it comes to head trauma. Something that a non-epileptic person would recover from could decimate a person with epilepsy.
2016-03-18 01:06:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Write your an agreement,which states buyer wants to take over payments,condition of the 4wheeler "Sold As Is",if it's still under warranty it may not be transferable to the new owner.
With the date,the buyers address& phone number,how they intend to make the payments(cash,credit card,checks),describe the 4wheeler,it's model number,year,style(vin # ,if it has one)color.
Write how much the total remaining balance is on the day they take over payments.How much they agree to pay each month until "paid in full".
*Note: Add line which states if they are late,they are liable for any and all late fees.They are to notify you if they have a change of address or telephone number.And also, if you have to try and locate them and take them to court .They agree to pay your attorney fees,court costs ,if they don't meet the terms of this agreement.
*Take photos of 4wheeler,from all sides.And keep with
*At the bottom make a place for: Signature_________________________
Witness__________________________
Notary's Signature___________________
*Pay to have it notarized
Then you get a copy and they get a copy
* Have a friend or parents go with you when you ,make sure everything is to your satisfaction.
good luck/
2007-09-06 04:50:23 · answer #3 · answered by need2know 5 · 0⤊ 0⤋
You should make your own agreement and have the person sign it. Make sure you type it on the computer with two signature lines...one for you and one for them with the date included. Print two copies so you each have an original.
In it make sure you state that as of (whatever date) (insert name of buyer) agrees to take over payments from (your name) for (insert model of 4 wheeler and vin number) and (insert name of buyer) understands he is taking over payments for the 4 wheeler in AS IN CONDITION and that (insert your name) will not be held responsible for future problems and/or needed repairs.
Hope this helps.
2007-09-06 04:34:03 · answer #4 · answered by Princess J 3 · 0⤊ 0⤋
I would be careful, because if they stop paying they own it and it's your credit that goes to poop. See if you can transfer the loans to that person, make an agreement and signed and dated by the both of you with two witness. That way if something goes sour you have the evidence for the courts. I would also included in the agreement if they make one late payment they have to return it to you.
2007-09-06 04:33:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The holder of the loan does not care about any agreement signed between you and anyone else. YOU owe them the money. Go to whoever holds the loan and have the new buyer sign the papers there. It's the only way to know you will not be held responsible later.
2007-09-06 04:55:52 · answer #6 · answered by sensible_man 7 · 0⤊ 0⤋
I would say notary public. Have something signed.
Saying:
I ___, give __ of an amount of ____.
___will be paying weekly/;monthly/biweekly/ payments of ___ to me on the _______.
If they neglect to do so I have the right to take the 4 wheeler with their consent.
Look for a Bill of Sale, I bet thre are a lot int he internet
2007-09-06 04:32:52 · answer #7 · answered by yolie857 3 · 0⤊ 0⤋
Make sure that it is someone that you trust completely.
However, even if it is your brother or sister, make them sign a notarized statement saying owner ship will revert to you if they miss a specified number of payments. It would be well worth the cost of a lawyer to find out what your legal rights are.
2007-09-06 04:43:03 · answer #8 · answered by cherokee grandson 1 · 0⤊ 0⤋
You don't do that!
Do you know the person? do you trust that person?
in any case if you really agree to do it that way don't give up the title until is paid off.
2007-09-06 04:33:12 · answer #9 · answered by kittycat 3 · 0⤊ 0⤋
don't do it, if they can't get their own loan, you have a good shot at them wrecking the vehicle and then just not paying, you will be on the hook for the money.
2007-09-06 04:36:17 · answer #10 · answered by Anonymous · 0⤊ 0⤋