Selling vehicle with lien ??

[GH41]

I have a motorcycle I want to sell that I owe money on. The loan terms at the time allowed me to borrow almost interest free. I have an out of state buyer that is offering me cash for the bike but he is uncomfortable handing me the cash and having to wait 10 days for the title. I don't blame him! I have offered to do the transaction at the bank of his choice. I would buy a cashiers check for the payoff amount and have him witness me overnight the check to BMW Financial Services. I can pay off the loan and get the title but the process will take a week or more to do. I am afraid I will loose the buyer if I don't move fast. Is there a service available that would oversee the transaction (for a fee) that both of us would be comfortable using? GH

[montanadave]

Contact BMW Financial. They probably offer escrow services.

[Shorts]

^ Yup. Get on a three way conference call with the buyer and your creditor to complete the transaction. Puts the buyer in direct contact for peace of mind and the creditor can make arrangements for the new titled to go to the buyer. Everyone is on the same page.

[GH41]

Thanks guys. BMWF sent me forms that will allow the buyer to payoff the loan and have the title sent directly to him. GH