I have a motorcycle financed with honda. my nephew wants to make payments TO ME and buy the bike. can i do it?

Question

i want the insurance and tag in his name, but i will have to continue to keep it financed in my name because of his credit. can i do this?

Answer 1

the only way i see of getting it transfered would be for you to get another (independent) loan to pay off the total of what you have left... that would atleast free up the title and it could be signed over...

would cost you extra money in the long run in the form of intrest, so it really depends on how bad you and he want the title switched over before the bike is paid off...  

Answer 2

You can't transfer title as long as Honda is a lien holder.

Answer 3

Nope.  The lien has to be paid off to release the title to him.  There's no way that the lien holder will allow a transfer without clearing the loan.

You could sell it to him and co-sign on a new loan though.  Keep your name on the title if you do that though, so that you can take it back if he stops making payments.

Answer 4

Just went through the same thing with my husband's bike. You can get insurance in his name but that is about it. You can not sign over the title in his name till you have the bike paid off with honda. If you dont have a title, you cant get tags for it. So either you pay for the entire thing and sign it over and pray he pays you everything. Or he should pay for the entire thing.  

Answer 5

I doubt it.  What you could do is add him to your insurance until its paid for.

The lien holder won't go for it being registered and insured in his name.