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Help me with a Title question

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Still haven't picked up my xr650l because the guy tells me last minute he still owes money to Honda Financial. Now my wife is pissed because I got all this cash laying around and is hinky about giving this guy money hoping he will pay off the bike and Honda will send me the pink.

He's in the Air force and I work law enforcement. You guys have any experience with just using a dmv bill of sale and wait for the pink?

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I had a bad experience with an ATV rental place in Pismo beach once. I bought a Suzuki Quadracer from them and it took 6 months to get the title. now I won't buy any vehicle if the owner does not have the title on hand.

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CR:

I'd call the actual lien holder, Honda Financial, and see what they suggest.

In the past, in situations like yours, I've met with the lien holder (bank or credit union) and the seller at the same time. I pay the seller, he pays the lien holder, the title is notarized and I'm on my way. These days, I bet this could be done electronically, or through a Honda Agent.

Let us know how it goes!

Dave

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CR:

I'd call the actual lien holder, Honda Financial, and see what they suggest.

In the past, in situations like yours, I've met with the lien holder (bank or credit union) and the seller at the same time. I pay the seller, he pays the lien holder, the title is notarized and I'm on my way. These days, I bet this could be done electronically, or through a Honda Agent.

Let us know how it goes!

Dave

Exacly what you do. LOL, like closing on a house.

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I have sold bike that I still owed money on and it would be nice to think that everyone was honest and would follow through like I did. If you are reluctant, find out what the payoff on the bike is and have a cashiers check made out to the lein holder for that amount and then just pay the guy the difference. He should understand that you just need to protect your interests and you are saving him the trouble of writing a check. If he gives you attitude then there is reason to be suspicious. The problem with your Dmv bill of sale idea is that you would need to put the full sale amount to protect you interests. The other way you can put the amount that you paid directly to the seller, the amount you paid to the lein holder, or the whole amount.

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, find out what the payoff on the bike is and have a cashiers check made out to the lein holder for that amount and then just pay the guy the difference. He should understand that you just need to protect your interests and you are saving him the trouble of writing a check.

This way also protects his interest in getting his loan paid off. Be sure to get a balance-due date by a date certain a few days from the time you pay him. Before you pay him have him write a letter releasing his interest to you and to release the title to you in your name. Then you overnight mail the letter along with the cashiers check to Honda. Ride off with the new bike when you give him the difference of payoff and sale price.

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My recommendation: GET THE TITLE! Prevous suggestions on this thread may protect you adequately as you approach this goal.

Service members enjoy unique protections under the "Servicemembers Civil Releif Act," ( http://en.wikipedia.org/wiki/Servicemembers_Civil_Relief_Act )regarding immunity from lawsuits, foreclosures, reposessions, etc.

A Honda dealership might suggest effective and efficient means to effect the transaction; probably not their first exposure to such a scenario. Your seller may be totally honest and well-intentioned; however, as Ronald Reagan said, "Trust, but verify!" :)

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my .02 title in hand=cash in your pocket

i did buy my xr from a guy in person i was just going down to look at it and it was a good deal and in great shape so i offered to pay him right there using pay pal since it is secure and you can claim a dispute he was cool with that and and ended up saying damn thats faster than i can count the cash but then again cash is king it all depends on the person your dealing with

but ALWAYS have a sure way to put the title in your hand when you leave with the bike

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have him there and call the bank

have him sign over the loan to you

you pay the loan off with the cash

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