question, i have two bikes (06 1000rr blue/yellow and 06 f4i) thru honda finance and wanted to know if anyone has info on having someone take over the payments. hows it work??? does it work and what would have to be done. thanks

 

bad bad bad bad bad bad bad news all around. i would steer clear of that.

 

I'll do it provided I get the 1krr You can have my F3 with its 100 a month payment for a 2k loan

 

Its not bad. They just do a credit report on the person wanting to take over payments and they decide what that person's payments will be. It all depends on the persons credit.

I'm sure they'll try to do something ****ty, but what bank doesnt.

 

You sign a contract with them obligating them to the payments and full coverage insurance, when its paid off they get the title. If you do this without your finance company being involved you will still need to have your own insurance on the bike.


Bad thing is

If the guy wrecks the bike and didnt have coverage, you pay
If the guy destroys the bike and gives it back, you pay
if the guydoesnt make his payments, you pay
if the guy disapears with the bike, you pay
if anything goes wrong, YOU PAY

Yourbest bet is if you have known the person for a long time and can trust him.

 

I think YOU would be better off if you had the person buying the bike take out their own loan and give you cash to pay off your loan

 

do not do it ever. end of story.