Bike Loan Confusion

[WildCard]

Yes that is risky to COI, but shops allow coi after transfer of ownership with three months installment upfront.

 

Not all shops.

Some shops.

I was lucky to be able to buy my TLR that way and sell my TLR that way after 3 years.

 

Before you buy, you may want to check up on whether the shop allows this.

Some dun. Heck, some even say you can't sell the bike before you finish your loan, however that works.

 

But there are still some shops that allow COI transfer. In addition to the 3 months advance, some shops also may want an admin & transfer fee of several hundred to $1K. Insurance is borne by new buyer.

[deftones80]

Yep thats what i am doin now...goin ard checkin wid shops...

 

Can anyone update on shops that allow this? And Which shops are good for reloaning in ur experience?

 

Not all shops.

Some shops.

I was lucky to be able to buy my TLR that way and sell my TLR that way after 3 years.

 

Before you buy, you may want to check up on whether the shop allows this.

Some dun. Heck, some even say you can't sell the bike before you finish your loan, however that works.

 

But there are still some shops that allow COI transfer. In addition to the 3 months advance, some shops also may want an admin & transfer fee of several hundred to $1K. Insurance is borne by new buyer.

[WildCard]

Yep thats what i am doin now...goin ard checkin wid shops...

 

Can anyone update on shops that allow this? And Which shops are good for reloaning in ur experience?

 

My shop was the now defunct Motosales (MSC).

The loan balance, after I transferred it to the new owner, was transferred to Excel Cycle. Can check with them.

 

That's all I know.

[swat_]

any idea whats the interest rate from dirtwheel? say 2 yrs duration and for a cls 2 bike