Quick Question:
Thread Starter
Joined: Feb 2006
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From: Sacramento, CA, USA
Quick Question:
Im looking into buying a bike soon. My friend is currently making payments on his bike and he has about 5000 left. But he wants to sell it to me. Is it possible for him to switch over the title and for me to take the payments over as well? Is their any additional fees what so ever or anything i need to know about? thx alot
Honda-Tech Member
Joined: Apr 2002
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From: DMV
if he financed through the maker (honda, yamaha, etc.), then you will have to qualify through them before attempting to take over payments.
if you go through your bank, credit union it may be a little different.
.02
if you go through your bank, credit union it may be a little different.
.02
)
Joined: Jan 2006
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Re: (KArowd)
do a little research first. what kind of bike is it? how old is it? how much are u altimatly going to be paying after interest and all that. sometimes the amount that needs to be paid off is more than the value of the bike. you may just want to help out a friend but you also may be able to get the bike for cheaper from some one who has already paid it off, depending on what kind of bike and how old.
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From: DMV
Re: (KArowd)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by KArowd »</TD></TR><TR><TD CLASS="quote">So if i get a co-signer, then i will be able to take over the title and payments for the bike?</TD></TR></TABLE>technically no.
whoever you're making the payments to will take over the title.
whoever you're making the payments to will take over the title.
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From: Old Dominion
Re:
I wouldnt take over payments for a used bike. Just make payments on a new one, if you absolutely have to resort to making payments. Or take out a personal loan (~3000) and buy yourself a cheap, used bike.
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From: MN
Re: Re: (Mr. PengUIN)
tax, title, license....
5000$ transfer would be 5000 x 6.5% tax = $325
$5325
i dont know what the title and license cost is where you live, some states allow license transfer with out reupping, some dont...
your probably gonna be roughly $500-$800 on top of the 5K for the bike. Food for thought.
5000$ transfer would be 5000 x 6.5% tax = $325
$5325
i dont know what the title and license cost is where you live, some states allow license transfer with out reupping, some dont...
your probably gonna be roughly $500-$800 on top of the 5K for the bike. Food for thought.
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