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Discussion Starter #1
i found a 2006 600rr and the owner is willing to let me make monthly payments until i pay off the bike (about $1500)

how do i put this agreement onto paper so that neither the buyer or seller can get screwed? and how will i be able to register paperwork with the DMV?

i live in san jose, california btw. thanks in advance.
 

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Wow, the seller isn't very smart (no offense). There is no way for the seller to protect his interests in the deal, unless your down payment is equal to the actual value of the bike, or you have collateral against the loan.

Simply let him put a lien on the title. That's his only protection (other than sue or take a pound of flesh). If the bike is stolen or wrecked and you stop paying those are his only choices.

Your (and his) best choice is for you to get a loan from your bank or credit union. Join a credit union. They are usually more lenient with their loans and offer lower rates. They are also more apt to let you use something (like a car) as collateral. Besides, it will build (or repair) your credit.
 

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Little rule I live by: Always pay cash for toys, never make payments. Lets be honest, bikes are not necessary for everyday life. It will save you money in the long run and its just smarter. Be patient.
 
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