Lender has pink slip?

[BOBALOO]

If I want to buy a motorcycle but the owner financed the bike and does NOT have a pink slip in hand, how do I so it.
Do I send a check to the finance co?
Do I pay the owner and have him (hopefully) send the payoff?
Is there a fast way to do this in Ca.
Thanks.........
BOB(going to look at a few bikes tomorrow)ALOO

[pixilatedpussy]

If I want to buy a motorcycle but the owner financed the bike and does NOT have a pink slip in hand, how do I so it.
Do I send a check to the finance co?
Do I pay the owner and have him (hopefully) send the payoff?
Is there a fast way to do this in Ca.
Thanks.........
BOB(going to look at a few bikes tomorrow)ALOO
We only bought only 1 bike this way...I just took the guys word for it...I know ...pretty risky. He went to the bank, paid it off & brought me the pink after. Wasnt a prob. :p

[HOOTER SLED-]

You could always go with him to the bank.

[HOOTER SLED-]

I bought a truck this way. Went to the bank with him and made the payoff.
BOOOOOYAHHHH

[Rexone]

I bought a truck this way. Went to the bank with him and made the payoff.

[BOBALOO]

I guess having him go to my bank with me to prove that I have a REAL cashiers check should work. Thanks

[deltarat]

When I bought my Fountain I was in the ame situation, I made a check out to the lein holder and got a bill of sale for the boat from him, then I towed the boat out of the driveway. When the owners debit was cancelled the lein holder sent the pink to the guy how then sent it on to me. My word of advice is this, to date I have paid a steep fee to the DMV for not regeristing the boat in hte time frame that they thought it should be done in :mad: . Had to wait to reg. until I had the pink slip in hand. Watch the dates that you put on the bill sale so it doesn't bite you like it did me. I never did get a pink slip on the trailer, so I am not to sure what to expect next time I go to the DMV :mad:

[Havasu Hangin']

Whether you payoff the lender or the party, until the lender (leinholder) releases the pink, the Bill of Sale is your proof of ownership- you will need to take it to the DMV.
If (for whatever reason) you don't get the pink from the lender in a timely manner (I'd wait a few weeks), you can use the Bill of Sale to apply for a duplicate pink.

[THOR]

SWB and HH are right. But, to make things easier, just cut a cashier's check to the lender. Then, they SHOULD give you the title directly.

[deltarat]

Whether you payoff the lender or the party, until the lender (leinholder) releases the pink, the Bill of Sale is your proof of ownership- you will need to take it to the DMV.
If (for whatever reason) you don't get the pink from the lender in a timely manner (I'd wait a few weeks), you can use the Bill of Sale to apply for a duplicate pink.
I wish I would have known that I could have save myself alot of $$$$

[mike37]

depending on the lender
the seller can approve you to deal with the lender directly
get pay of info pay the balance to them and have the pink sent to you
some lenders wont do this but its the best way if they will
and most trailers in Cali have a no pink registration now but you can request one if you want

[BOBALOO]

I think I am going to just go and buy a new one, every bike I call on is sold before I can get to it. I have been looking for 3 weeks and it is not worth wasting my time calling all over and having everything reasonably priced gone already. :mad:
Great info on the payoff procedure guys, on my current boat I paid the old owner the difference and sent the lender a cashiers check. The process took a week and a half and was a PAIN (his finance co. sucked) I also had to drive to Kingman to do the registration to save the taxes.
I figured there was an easier way.