loan issues/full settlement

[ah_veo]

example:

 

i took a 2 yrs loan.

1 year later, i sell to a buyer who wants to pay cash.

my balance outstanding loan is $3,000.

my question is, if the buyer help me pay off my outstanding loan....

how much he needs to pay? is there any admin charges by the bike shop? or will the bike shop charge less than $3,000 since they're going to recover the remaining in 1 lump sum. is there any standard practice among bike shop?

 

tks in advance.

[5tr4ng3r]

Bike shop usually will not give discount even if you pay 1 lump sum, because in the first place, you asked for the loan.

[Jacq]

some even charge early settlement fee. look thr your contract with them 1st.

[ah_veo]

ok, thanks...