I am possibly selling my Atv and still owe money on it. The potential buyer is of course worried about that and about not getting the title. His payment will pay off the bike. How can we do this so he can feel comfortable with the transaction? The loan is through American Honda Finance so we can't just walk in to a local place and get the title.

 

Write up a contract with all of the terms, and have it notorized.

Or, go to an lawyer...

 

Okay, thats kinda what we were thinking. I am on the fence about this anyways, so I think I'll just keep it and get it paid off and sell it later.

 

Can always do escrow
Your bank probably offers some kind of escrow service.

You wont get paid until he has title in hand, the bank holds the cash, but you would have to get the Lien holder involved too

 

Too much trouble for me. I was really only entertaining the idea of selling it, so I think I am just going to keep it and have fun with it for a while.