steps to sell a bike that is not paid off
 

Selling a sportster, but how do I sell it when I still owe money on it?

Can someone guide me thru the proper steps?

the person goes to a bank, digs up their pennies or whatever means to come up with the cash or certified check from their bank. Then you take said funds and pay off your lien holder. Title and registration guidlines can vary state to state.

OR...

HD has financing for private sales through their lending partners.

You can get it financed thru HD but they will charge a fee, I think I had heard about $700.00, which will cut into how much you get out of it.

I traded mine, but I had to wait a few months before the dealers would come around and give me what I wanted for it. Are you just selling to sell or are you looking to get something else?

If you are looking to get something else and really upside down on the loan, just ride it until you get to a point where you can pay off the loan with enough for a down payment at trade value.

Or, you might be able to refinance at a local credit union, that way you can meet your perspective buyer at the CU office and just pay it off.

Have you ever traded /sold a car that was not paid off? How about a house? Same concept. You sell it and deal with the lien holder. Not a big issue at all.

Call the lien holder. Most can handle the whole deal for you.

Buyer goes to bank and wires Pay off to lien holder. (irrefutable record of sale and purchase) Bank notarizes Bill of sale ( in case buyer claims payoff was a "gift")

Buyer can register the bike with Bill of Sale. Has 90 days to get Title. Lien holder sends title to seller who signs it over to the buyer and sends the title to the buyer. There is no recourse in holding the title as a new one can be issued based on bank records and notarized bill of sale.

Wow......

If the buyer is going to pay cash, he wants to make sure the money goes to pay off the bank or HD. Talk to your bank or HD and they will give you wire instructions for you to give to the buyer.

If buyer is financing, his bank can work with your's to make it happen.

Handing over a large sum of cash to a stranger makes some folks nervous, so understand if they are careful.

Maybe you are looking for more steps.

Make sure you have a payoff figure that is good for say 10 days.
Make up a bill of sale for both you and the buyer to sign. You can get examples everywhere online. The buyer can give you all the money and depend on you to pay off your bank and get him the title. (That's the one that makes people nervous)
Or, you can have him wire the payoff to your bank and give you the balance. After you have confirmation from your bank, you can deliver the bike.

Since HD has been know to lose titles, most of the risks are for the buyer. Once your loan is paid and you have the rest of the money, there isn't much incentive for an individual to help the buyer secure the title. Dealers have been know to screw up too, but they have the state tax people and the DMV looking over their shoulder.

Ask if you are still not clear.

When we sold my wife's sporty which was still bank owned,I met the buyer at his credit union.They verified the bike vin and wired the payoff to Eaglemark Savings and a check to me.