lien??????????? | GTAMotorcycle.com

lien???????????

marshall1987 said:
im interested in this bike that i might purchase this weekend. the owner said that there is a lien on the bike.
how should i go about this...hellpppp needed. thanks
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Go with him to the place he has the lien with and give them the money, have them remove the lien, get him to sign the registration over and they can work out the details themselves.
 
Tell the owner to pay off the lien. Wait a few days, and then get an updated UVIP.
 
Alvito said:
Tell the owner to pay off the lien. Wait a few days, and then get an updated UVIP.
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Most have a lien on it because they couldn't pay it off in the first place. I have bought a car in this situation before, just make sure you don't give him the money before the lien is removed.
 
Ok you will need to get a lien releas letter! as long as you have the bike /signed ownership/ signed statement /with witness and signatures,then you should be good!
Oh it takes 10 buissness days for the lien to come off, !!! so keep that in mined!
 
goggles600rr said:
Ok you will need to get a lien releas letter! as long as you have the bike /signed ownership/ signed statement /with witness and signatures,then you should be good!
Oh it takes 10 buissness days for the lien to come off, !!! so keep that in mined!
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Takes 10 business days.. exactly I just got this confirmed today by services ontario.

I contacted the bank, to confirm that the lein has been paid off and they were able to fax a letter over to me.

But honestly, not worth the trouble.
 
gonna go see the bike this weekend, looks nice in pics. he said if i like it i;ll have to buy it from him and then he'll take the money and pay of the lien and give me the letter for my records. or should i go with him to the establishment and pay it myself?
 
jeffjones said:
Go with him to the place he has the lien with and give them the money, have them remove the lien, get him to sign the registration over and they can work out the details themselves.
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Anyone want to pay my lien too?

Give him $(Price - Lien) and pay off the lien yourself.
 
marshall1987 said:
gonna go see the bike this weekend, looks nice in pics. he said if i like it i;ll have to buy it from him and then he'll take the money and pay of the lien and give me the letter for my records. or should i go with him to the establishment and pay it myself?
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I wouldn't give him the money unless your in the lien place with him as there are too many shady people these days.
 
lien is just a loan, you can get your bank to transfer the money to their lien holder so instead of paying the seller to just pay what remains on their bike, Ive done it with my car when i needed to sell it.

Its nothing bad it just means the bike was financed.
 
jeffjones said:
I wouldn't give him the money unless your in the lien place with him as there are too many shady people these days.
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This. Don't give the guy anything until the lien is removed. Obviously he doesn't have the money to pay it off, so what's to say he's actually going to do it?

Sounds like way too much of a hassle.
 
I agree with the poster above that said to give him price - lien.

Also, it can take up to 30 calendar days to remove a lien depending on lender processes. They have that much time. I removed my own lien and had Honda Finance send me a lien release letter for the buyer, but a buddy did the price - lien thing which is way quicker.
 
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