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  • How to buy bike with lien

    I’m looking at a bike I really like on Cycletrader. The owner seems legit - friend of mine vouched for him.

    but he said the bike was financed (Harley Davidson) and title needs loan payoff. I don’t know this guy well enough to pay him with faith that he’ll pay off loan.

    i read that you can use and Escrow service to protect both parties. Or that you can close at the lien holder paying them direct what is outstanding and the remainder to seller.

    Anybody have experience with such transactions?

    and yes I’m thinking about buying a Harley ; )

  • #2
    Should be able to contact Harley directly. They might do the financial part themselves and sell the bike through your local dealer

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    • #3
      Do it in person with the lien holder.

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      • #4
        Do it in person with the lien holder (preferred method) or use an escrow account. It will cost you a percentage (how much, depends on who you use) of the total amount deposited in the scrow account. Very safe way.

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        • #5
          The money needs to go directly to the title holder, which is the financial company that wrote the loan, before they'll release the title. The title would then have to go directly to the person on the loan, which can take anywhere from a couple weeks to a month or more, then once they have the title they'd have to turn around and sign it over to you. In the mean time you have no legal grounds if they decide to screw you over. I personally wouldn't do it that way no matter how well you friend knows them. And, to the best of my knowledge, even if you do use an escrow agency you'll still have to pay up front and wait for the title and the bike.

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          • #6
            Thanks guys you’re the best!

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            • #7
              Turns out Harley Davidson has a program called Buyers Assistance. If you Finance the private sale with HD, they will do all the paperwork for you with no additional charges.

              so if I move forward I and the seller meet with HD. I pay HD the amount owed on lien and pay seller remainder direct.

              HD has seller sign Power of Attorney to manage total transfer and issues temporary plates so I don’t have to wait for title to register Bike.

              glad I called Local HD dealer!!!

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              • #8
                Nice, that's good to know and smart of HD to offer that service. Good thinking on your part. Be sure to post some photos when you get the bike.

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                • #9
                  Here’s ad pic

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                  • #10
                    And live today

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                    • #11
                      Wow that was fast. Congrats! Nice ride, clean too, looks like new.

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