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Discussion Starter #1
I may have sold my MV Agusta. The prospective buyer is willing to pay cash for it.

Could someone tell me what the general process it for transfering the bike? I'm financing the bike through Conseco finance but I have the title.

Would we have to pay off Conseco, then obtain a lien release, then both of us go to the DMV to transfer the title?

Is there a way to do this faster (ie: if my buyer want to drive off with the bike that day?) Thank you.
 

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While I can't say for sure, I believe that the buyer will buy the car from your bank. He will pay the agreed upon amount & the bank will send you the overage. Being that the bank has the title, they are responsible for the transfer.

You will need to fill out certain forms for the DMV - milage disclosure and that sort of thing, but I don't believe you'll have anything to do with the title.
 

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i just did this. He pays your bank directly. You give him the title. The bank sends the lien release to him or you depending on the bank.

Just be up front with the buyer and it should all work out fine. Your best bet is to call your bank and let them know what's going on. They've done this a million times so they'll be able to tell you the best way to go about it.

-Steve
 

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Discussion Starter #4
Thanks for your responses.
 

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Allan Gibbs said:
Thanks for your responses.
Thanks for your responses. Fortunately, I found a buyer from New Jersey who would prefer to run the deal through my local dealership. He'll be flying out to Phoenix to inspect the bike and I'll be bring the bike to the dealership for shipping.

The garage is cleared for the Elise....although I feel a very strong pull toward the MV 1000cc model.

Sigh, so little time, so little cash but too much to buy. :(
 

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Hi Allan,

Congrats on selling the MV, even though I know from recent personal experience that it's somewhat tough to see it go.

It really depends on the state. In WI, the owner has the title and the lien holder is listed on the title. The buyer pays you, you sign over the title, and he takes the car/bike. You then pay off the loan. When the buyer goes to register the vehicle in his/her state the DMV checks an electronic service for a lien release. If it hasn't gone through yet there is a few week peroiod where they wait for it. If they don't get it, they contact the buyer to let them know that there was a problem. So, it's a transparent process to both.

How've you been doing without the Boxster these past few weeks?

--Josh
 

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Discussion Starter #7
JWA said:
It really depends on the state. In WI, the owner has the title and the lien holder is listed on the title. The buyer pays you, you sign over the title, and he takes the car/bike. You then pay off the loan. When the buyer goes to register the vehicle in his/her state the DMV checks an electronic service for a lien release. If it hasn't gone through yet there is a few week peroiod where they wait for it. If they don't get it, they contact the buyer to let them know that there was a problem. So, it's a transparent process to both.

How've you been doing without the Boxster these past few weeks?

--Josh
Hi Josh. I believe that's the same process in Arizona. I also have the title with a lien on it. With a "guaranteed funds check," the lien holder said they could send a lien release notice in 10 days.

Fortunately, my buyer would rather run the deal through the dealer. I'll end up paying the dealer $500 but could probably recoupe that when I buy another by from him.

As for the Boxster, I really didn't use it much for the last year of the lease. I've been using the bikes constantly for the past year. I've used the R1 as my commuter vehicle. But, I'd be really glad when the Elise comes in.......but I have to confess, I'm really, really tempted by the MV1000. I'd sell the '04 R1 if I could but the resale values on the R1's aren't like the MV.
 
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