Selling when you still owe money

[CDALEMX301]

Well I am looking to sell my Suzuki just don't have the time to ride anymore.... I have only had it since July so I still owe on it. The bank has a lien on the title how do I go about selling it with the lien. I will need the money I make off it to pay it off and free the lien anyone know how this would work?

[leveldrummer]

does the lien holder have an office where you can walk in and actually talk to someone?

is the bike worth what you owe on it?


if you can get the money you owe, best bet would be to get the buyer to meet you at the lien holders office, walk in with the cash in hand and pay it off in front of them, write up a bill of sale, and when you receive the title (either when you payoff if they have it there, or in the mail) sign it over to them and give it to them.

[CDALEMX301]

its a 2007 Suzuki so I owe to Suzuki Financial which is run by HSBC and I don't believe they have a bank in the area. Anyone else have any help

[1fastR]

I just went throught this,

In some states it is illegal to sell a vechile you do not own, ck with your lein holder

where I live (mn) it is not, sold the vechile, went to the lein holder or bank and payed it off, they sent paper work to new owner

[treake]

1. Sell the quad for the agreed price.
2. Be sure to get paid in cash or a bank check
3. Draw up a bill of sale and make sure it's signed and dated by both parties. You may even want to go as far as having it notarized.
4. Deposit money into your account
5. Call whoever the quad is financed through and get the pay off amount.
6. Write a check for the payoff amount and mail it to the bank.
7. They should then send you all the paperwork showing the lien has been paid.
8. If they send you the title for the quad, mail it to the new owner.

It's not a difficult process. Good luck!!!