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Buying something with a lien on it?

Discussion in 'General Automotive' started by Uncharted, Sep 3, 2011.

  1. Sep 3, 2011 at 11:12 AM

    Uncharted [OP] Well-Known Member

    May 21, 2009
    Phoenix, AZ
    08 Taco
    Icon Extended Travel C/O's, TC UCA's, 285/70/17 Hankook Dynapro MT's, 17" XD Revolvers, Avid Off Road Sliders, Toytec TSB AAL, Rear 5100's, All Pro Front Bumper & Skids, Color Matched Grill, Grillcraft Upper, BHLM, Tinted Taillights, Lightforce 240's.
    Hey All! Just looking for some advice or some info about buying a vehicle/motorcycle with a lien on it.

    Current Scenario:
    I'm looking to buy a motorcycle from a friend of a friend. The guy owes $1800 on the motorcycle and is selling the bike for $2300. The bank (not sure if it is a local or corporate) is the lien holder. So this poses my question, what is the best way to go about this?

    My current though processt:
    1) Go to the bank with him, get a bill of sale notarized and a statement stating that he will hand over and sign the title over to me once he receives the title, (if it's not held on site which i don't think any are). Take possession of the bike and just store it until he receives the title.

    Any input is greatly appreciated!
  2. Sep 3, 2011 at 11:14 AM

    scocar being weird again....still

    Nov 11, 2009
    First Name:
    In close proximity to an undisclosed location
    01 Xcab TRD 4x4 V6 Man. SR5
    OME 881s, Dakars, greasable shackles, Nitrocharger sports, extended exhaust hanger, BAMF BPV relocate, Wheeler's extended brake line, rear diff breather mod, swaybar removed, Pilot backup lights, Redline hood struts, 4Runner 5-stars, Hidden Hitch Class III, 7-pin marine-grade wiring
    Check the AZ DMV site.
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