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 (http://omaha.craigslist.org/mcy/1693231952.html)

[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. :D

[ontwo]

You might put...I will meet you at the bank to finalize the transaction. Sounds better IMO

[pauldun170]

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. :D

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

[jtemple]

You might put...I will meet you at the bank to finalize the transaction. Sounds better IMOGood 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.

[ontwo]

I'm not bashing, but you should probably expect closer to $5500

[jtemple]

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.

[jtemple]

I'm not bashing, but you should probably expect closer to $5500No offense taken. Make me an offer and we'll talk. :)

[ontwo]

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.

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]

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.

[pauldun170]

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.

[jtemple]

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.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.

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.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.

[ontwo]

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

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]

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.

[jtemple]

You found a trusting buyer. Good luck with itYeah 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.

[jtemple]

Sold, pending funds!

[Full Throttle]

Congrats. You get the 6500 you wanted?

[jtemple]

Close enough that I can't complain.

Since me not having the title in hand was a topic of discussion, here's how it all went down:

1. buyer gets loan from his bank
2. bank cuts two checks, one goes straight to my bank for the payoff amount of the loan
3. second check goes to me
4. title goes directly from my bank, to his bank (neither of us touch it)
5. done!

The money exchange should be happening some time today, at the buyer's bank. If all goes well, the bike is officially sold. If anything falls through, the bike is still up for grabs.

[marko138]

Congrats.

[ontwo]

Congrats dude

[jtemple]

Thanks! I'm making my move to DS riding and getting a Husqvarna TE630.

[Cutty72]

Awesome, that's a great way to handle the transaction!

[jtemple]

Sold!

[Particle Man]

Congrats on the sale man

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).

[marko138]

PA holds till pay off. And I just paid off yesterday. Hoping to get my title in the mail soon.

[tached1000rr]

PA holds till pay off. And I just paid off yesterday. Hoping to get my title in the mail soon.

congrats on the payoff!:rockwoot:

[marko138]

congrats on the payoff!:rockwoot:
Thanks man!

[Particle Man]

PA holds till pay off. And I just paid off yesterday. Hoping to get my title in the mail soon.

dude, that's awesome!

[marko138]

dude, that's awesome!
Hell ya.

[101lifts2]

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.

[jtemple]

I have enough coin scraped together that I'm paying cash for nearly 50% of the new Husky. The bank won't be holding the title long.

[tommymac]

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.

[tommymac]

PA holds till pay off. And I just paid off yesterday. Hoping to get my title in the mail soon.

That mean youre going to actualy ride the damn thing now :lol:

[Particle Man]

:lol:

[jalaan1]

That mean youre going to actualy ride the damn thing now :lol:


he can NOW, it's finally his.

grats, Marko!

[marko138]

That mean youre going to actualy ride the damn thing now :lol:
Doubtful. I've always had the best intentions...the miles just never work out.

[Cutty72]

best of intentions... worst riders spirit. Gotta want it.

[marko138]

My spirit is fine. It's just more of a hassle to ride most time so I just take the car. I'm not really worried about it. You guys get more stroked off about it than I do.

[tommymac]

My spirit is fine. It's just more of a hassle to ride most time so I just take the car. I'm not really worried about it. You guys get more stroked off about it than I do.

then we need new material to bust your chops about :lol: