I’ve been looking for a bike with some specific parameters and finally found one not far from me listed on CycleTrader. I reached out to the seller but it turns out he has financing on the bike from BMW. His initial offer was to take 75% of the asking price, pay off his loan and get the title from BMW, then we would exchange the rest of the money and the title after he receives it. I said no f’ing way, there’s literally zero protection for me in that transaction.

Since then the guy has been very reasonable and we’ve been in touch to work out other ways to complete the sale. Since the financing is through BMW there’s no way to go together and pay off the loan, which was my alternate solution.

Are there any other options? I’ve been looking for this specific model with these specific options and under a certain mileage for a very long time. Having said that I’m not going to take a risk with my money unless I can get a title or third (trusted) party guarantee of a title coming my way

There are several ways to do this without having to trust the seller will pay off the loan. Take out a loan yourself and your financial institution will handle the process, go thru an escrow company, or have a dealer buy the loan and then resell it to you. The first 2 options are what I would go with.

Call BMW finance & ask how to proceed? Maybe you can pay the balance & have the title transferred to you, then pay the seller any excess sale price?

Is there a BMW dealership near where you live? I don't see why you couldn't talk with the finance manager and see what steps could be taken to switch ownership of the bike. The finance manager should be able to give you a better answer then anyone on a forum. Maybe the shop buys the bike from the owner and you buy the bike from the shop for a small profit so the dealership makes a little money for their trouble.

Whats so special about this bike? Lots of used bikes on the market and you can always add whatever accessories that will make you happy.

If you’ve already agreed on a price you are most of the way there. I would suggest a conference call between you, the seller, and the lender.

^^^That's what I did when I bought my last boat. I don't remember the exact logistics, but I paid the lender via wire transfer. I went back to the guy's house, he verified the lender had the money, I gave the guy a check for the remainder and left with the original bill of sale, the signed title, and the boat. The lender sent the lien satisfaction and I went to the Secrtary of State's office and got the title in my name. This was in Michigan.

I'm not that trusting to think a stranger will do what is right. You should cover your bases and ensure he doesn't keep your 75%

Sometimes it is possible to transfer the existing loan into your name. In other words, you take over payments. Then pay off if desired. BMW Finance are the people to talk to if this is what you want to do.

Contact BMW Financial they will give you the steps to pay off the loan and get the title sent to you.

Or, contact the dealer in your area to assist in the deal process, probably for a fee

https://www.bmwmotorcycles.com/en/info/contact.html

I would get a small loan at my CU just to have them involved do the paperwork. Assuming all the same state DMV. Say you are buying for 10k and you want to borrow 5k, pre arrange loan approval with your CU and then meet seller with bike at the office. You complete loan, everybody signs everything for the DMV and if the CU can’t obtain a payoff from other lender at that time they will at least assure the seller they will send him the net proceeds of funds. If he owes more than he’s selling for that’s another issue. And the CU should have a DMV guy that makes sure title work is down correctly

I did this many times when doing car loans earlier in my career at a credit union. Makes everyone feel a bit easier. Even if you don’t need a loan, pay a month or 2 of interest for their effort and then pay it off.

Alternative is you giving him money and hoping he pays off the lien timely and then getting you a title that you have to change to your name ? Yeah pass on that for me.