Can I buy a motorbike while the other person has it on finance?

Most finance agreements are technically hire agreements until the last payment is made. Therefore the bike is the property of the finance company and you must approach them. This is quite feasible.

Ex finance specialist.

Yes but they need to be able to show you what the outstanding finance is - a letter from the finance company with the settlement figure on and when you buy you have to pay the finance off yourself with a cheque which you make sure goes off in the post to the correct place and pay the balance of the agreed price to the seller.

If they do not like that arrangenment then tough as you must not buy it if you know there is outstanding finance on it as you have no guarantee they will pay it off.

IF THEY DO NOT PAY IT OFF THEN THE BIKE WILL NOT BE YOURS AND CAN BE REPOSSESSED BY THE FINANCE COMPANY - YOU MUST GUARD AGAINST THIS.

Forget B R they are americans stupidly answering UK and Ireland questions again

YES - we just bought a motorbike from a seller that had it financed.

Here is how we did it:

We contacted the finance company with the seller present.

Using our cell phone we called the number so we knew we were calling the correct legitimate place.

Then the seller got on phone to identify themself.

Then we transferred the payoff amount electronically from our bank to the finance company.

We paid the difference (selling price minus payoff amount) to the seller.

Now - Two more things:

We had the seller sign a Bill of Sale indicating to send the title to us - the new owner.

This letter is faxed or sent to the finance company title department.

Also - you take a signed Bill of Sale and the registration with you.

Within a week or two the title arrives .

Yes you can but his loan must be paid off at the time you purchase it with cash or your own financing. The lender holds the title until the loan is paid off and you can not make a transfer until they release it to you.

You can, but they can't legally sell it, and also if they stop paying the finance payments then they come and take the bike away from YOU and you lose your bike and your money!

You can, but you will not own it! The current owner must clear any finance before selling it. If the current owner sells it and does not pay the finance the bike will be re possessed, whoever "owns" it.

You can, but you shouldn't.

The bike isn't theirs to sell so you could buy it, they stop making the payments and then the HP company come and take their bike back, leaving you with no money and no bike.

Under no circumstances buy this bike.

No not that paticular one im sorry! you can probably find the exact look alike if youd like. good luck!