Selling spare bike

[cbzdel]

Got a question here, I bought a 2009 Ruckus last summer, and I used it for commuting because I had a very short commute. I financed it because I don't really have much credit. So I want to sell it for $2200 because its really heavily modded, but I owe $1500 on it still. I dont have $1500 cash to pay off the loan either. Because I used all my cash to buy my FZ6R

What is the best way to go about selling something when you still owe on it??

I would appreciate any advice..

Oh and the reason I am selling is to start a savings account and finally start my life off right, spending every penny my whole life (24 now) hasnt helped me towards buying anything nice (like a house!) haha!

Thanks!

 

[dean owens]

first, pick up a copy of dave ramsey's book - total money makeover and give it a read.

second, when i bought my bike the lady still owed on it. it was more hassle but it didn't stop me. the bad thing about her bike is the bank was in another state.

i'm going to assume the bank holding the title is in your state. if so, you both just make a trip to your bank and they pay your bank and the deal is done. discuss with your bank to make sure there aren't any small details, but it's pretty much that simple.

now if it's out of state... someone on another forum was a possible buyer of a bike like this. they were asking for information so i gave them the breakdown of how my transaction went. scroll down to post 17 in this thread.
TMW Motorcycle Forums and Gallery

hope that helps.