Skip to content

General Bike on finance? help General

You are in... Forums > General > General > Bike on finance? help

Got something to say?

Got something to say?

Go to most recent reply



Nov 09

Posts: 12

Bike on finance? help

HI folks, Need some advice please, I am interested in a zx10r, I have spoke to the chap who seems honest enough.  The bike is in his name and the log book is at the address where i would pick the bike up, He has told me it still has £3000 outstanding and has only not settled up already because he is waiting for a definate sale and the bike is 0% finance.  A quick google search suggests that he lets me settle the finance with a cheque at the finance company direct with the buyer present and pay him the remainder in cash.  Does thie sound like good practice? Really dont want to get spanked:unsure:

Reply to this Topic  
  • Posted 5 years ago (10 June 2010 13:06)

Post a message in General

Fields marked with an asterisk * are required


Please note. You cannot submit more than 4000 characters as a message.

Upload image(s) from your computer (up to 3 images)


Terms of use

Use of our community areas and forums is subject to important terms of use. By joining our community and using the features you agree to be bound by these terms. See terms of use below. 



Nov 04

Posts: 3833

750FLYER says:

Sounds like

may get complicated.

If I was you, pay him whatever price you agree on for the bike, the finance is in his name, not the bike.. let him sort that out.

I wouldn't get involved in someone else's finance agreements mate no way... pay him what bike worth.. up to him to clear his debts I think.

Reply to this Topic


Feb 10

Posts: 1137

kawathrasher says:


Sorrry to differ but as far as i know the bike belongs to the finance untill the last payment is clear

If for wotever reason the guy stops payin or dosn't clear any outstanding balance they will come n take the bike. Granted that if you have sold said item then they'll have a hard job

But if the new buyer decides the bikes not for him and he trys to sell anybody private/trade could do an hpi on it and this will thell them possibly that there is outstanding finance

Tricky one i know but it could leed to a whole lotta greif



Reply to this Topic


Nov 07

Posts: 279

urbmark says:

Walk away...

Unless he clears the finance **First** You then do a Data check ie HPI to make sure the bike is clear before parting with your hard earned money.

Reply to this Topic


Jan 03

Posts: 3072

scorps says:

way too negative chaps

it is common practise and any finance company should be more than happy to aid a sale if they know the settlement payment is going to be paid. They are the ones who own the bike not the rider. Things start to go wrong when the person selling the bike is given the amount needed to settle.

Reply to this Topic


Jul 08

Posts: 452

carbonni says:

Well said scorps

If you are really interested, the best route is for you to clear the outstanding debt with the finance company and then hand the balance direct to the owner.
This way, the finance is guaranteed to be cleared, (seller can not stop your cheque etc).

I'm not 100% but I'm sure there are complications on legal ownership during the admin process once you pay the finance company - some ask for the seller to gain permission to sell before you can do anythign IIRC.

A little bit of hassle but whatever you do, do not give the full amount to the seller if there is any doubt about outstanding finance.

Reply to this Topic


Feb 09

Posts: 3737

Id be weery mate

you need to prove that ya'v got it payed off.

Pay the £3 and do that text check, Ive used it and its quite good. Lets you know everything about the bikes past and owed finance.

If it were me, Id steer clear of it.

Or, go to the finance company with him and with the log book, get it on paper before you do the swap.

If he does you, you loose ya cash and ya bike:blink:

Reply to this Topic


Sep 09

Posts: 295

zak03 says:


me thinks you should phone finance company tell them you want to buy the bike and how much is owed on it they may not tell you though due to data protection and there may be a penalty to pay for paying early but the finance company will own the bike untill its paid in full so be carefull if he says he will pay finance off with your money dont believe him if he dont pay you loose bike hope this helps

Reply to this Topic


Mar 09

Posts: 936

RoadieRoger says:

Too Trusting

Too many things to go wrong .Walk away and look for another would be my advice . If he`s keen to sell he`ll find a way .

Reply to this Topic


May 10

Posts: 158

LeeMorgan says:


Having spent 9yrs in the motor trade i think i am able to comment on this.

The bike is on 0% finance, There is no fee's with a 0% deal . The finance company have been paid by the garage or manufacturer ( there profit ) when the bike was bought, All they want now it the final balance . The bike is the finance company's until the balance is paid. The owner is not aloud to sell it until he owns it/ has paid for it. It will state that on his finance docs. Don't buy it until it is paid for ...... This is an easy warning . You will lose if you play this game. 

If he is serious about it then offer him a deposit and you can pay him after the finance is settled.

He might be gen and all ligit BUT if it goes wrong and he ain't gen he won't lose out YOU will.

Hope you understand all of above :)


Reply to this Topic


Apr 09

Posts: 2733

BUSA666 says:

walk away

plenty more fish/bikes in the sea... at least then you can sleep at night knowing there is no come back.:wink:

Reply to this Topic


Compare Insurance

Save money by comparing quotes. It's quick and easy

Motorcycles for sale


It's only £13.99 to advertise your motorcycle on MCN

Sell your Motorcycle

Motorcycle pricing tool

New! Find used bike prices