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10 Sep 2014
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Join Date: Jul 2014
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Financing a Bike before the trip?
Hi All,
First post here. If you don't own the bike and are financing from a bank does that affect documentation or make it more difficult?
Just so you know I'm planning a trip that may involve more then 6 countries.
Thanks,
Scott
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10 Sep 2014
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Gold Member
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Join Date: Jan 2002
Location: Toronto, Canada
Posts: 2,134
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Hi Scott:
I think it depends only on what name appears on the ownership/registration document for the motorcycle.
If it is your name on the document, then whatever financing you may have makes no difference at all.
Michael
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10 Sep 2014
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Going to Mexico, for instance, requires a notarized letter of permission from the lien holder. Good luck with that one.
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10 Sep 2014
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Banned
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Hi,
Financing a bike sounds as if you are short of money (not good for a trip) or the bike is very expensive (not good for a trip because high loss of value per kilometer). I would leave this expensive thing at home and get a cheap bike like a tenere or transalp for 1000 bugs. Then you can enjoy your trip and dont have to worry about the bike might get some scratches or even get stolen.
Travel save, Tobi
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11 Sep 2014
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I still haven't decided what bike to buy yet! Money isn't quite the issue.
I was considering something newer. It just might make more business sense instead of purchasing outright. Just wanted to see what hurdles there are. As stated an older and/or cheaper bike might make more sense. Anymore advise with this would be appreciated
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11 Sep 2014
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Whatever the bike, you need one with a clear title, no lien.
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11 Sep 2014
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Join Date: Feb 2010
Location: Tucson, Arizona USA
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I'm not sure, but are there any restrictions in the countries where you plan to travel that might require you to have a clear title? I'm not a world traveler, but it seems to me that each country might have specific requirements. Maybe you would require full ownership to purchase insurance in those countries, get through customs or border crossings etc.
But one of the RTW travelers would know better than I.
__________________
Roborider
Rob Osborne
Vail (Tucson), Arizona USA
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12 Sep 2014
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Join Date: Jun 2010
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Uk here and my friend just shipped bike to the US for a trip and had to pay off finance or they wouldn't put it on the boat!
Sent from my iPhone using Tapatalk
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