selling a bike payed for by finance

bugsy46 · Village Idiot Joined: 16 Mar 2004 Karma :

i payed the difference of my part ex through black horse motorcycle insurance. The dealer said I could sell it whilst still paying it off because it WASNT hire purchase,is this true?

cheers folks
____________________
Laura - "And where did looks come into this and bugsy leave steven alone. You are not gods gift to women you may think you are but you're not."
Keith - "All the best"

Bendy · Mrs Sensible Joined: 10 Jun 2002 Karma :

When I wanted to trade a Black Horse bike in, I had to clear the finance on it first.

Mrs Kickstart · Brolly Dolly Joined: 06 Apr 2004 Karma :

Hi,

It will depend on what sort of agrement you have.

If it hire purchase they have to paid off first and in full if you sell the bike.

If you have personal loan then you dont.

Black horse do both but most bike dealers only arrange HP as it is more profitable.

You can as the dealer said, you can sell the bike before the end of the term provide the HP is settled in full at the time (this is because you don't own the bike). The HP agreement will show up on a HPI check.
Regards
Charlotte