For Sale: 2006 ZX-10R, Green

[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.

[jtemple]

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.

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.

Originally Posted by pauldun170

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]

Originally Posted by pauldun170

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

Originally Posted by jtemple

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]

Originally Posted by ontwo

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.