Re: The Smart Way To Let a Motorcycle Go Back

Posted by mk_378 (164.106.129.131) on February 07, 2004 at 14:38:10:

In Reply to: Re: The Smart Way To Let a Motorcycle Go Back posted by Needing Advice on February 07, 2004 at 08:20:09:

See if you can cancel the warranties and apply a refund to the loan balance. That will reduce the amount owed, whether you end up selling it or it is repo'd. These warranties are worthless, especially if they can't be transferred to a new owner (If they can, and they won't give you much of a refund, it might be worth keeping them in place as a selling point.)

Honda may have a procedure where they can transfer the loan to another person (assuming that person has decent credit). In that case, advertise the price as a "take over payments of $XXX" option. This might catch the buyer off guard as to what it is really costing.

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