Ok so i am interested in a bike with outstanding finance... The bike is perfect for me. The owner is selling because he is doing his test to be able to ride a bigger bike and he needs to sell his current bike to pay of the finance. I know that if i bought it from him i would not become the legal owner of the bike becuase the finance company still owns it. I don't want to hand over cash becuase if he doesn't pay the company then they can take the bike from me. Is it possible for me to write a check or something to his finance company to pay it off in full, and then he hands over the bike? He has it on hire purchase. The guy seems completely genuine and he didn't even know that he was not legally allowed to sell the bike to me until i told him...
Or how do i go about taking over the finance of the bike and paying it off myself?
Please advise
Or how do i go about taking over the finance of the bike and paying it off myself?
Please advise