you will have to get a loan for whatever he owes and then just "take over payments." ulike him saying "will sell for 7500" when he owes 7g and wanting to make $500. taking over payments is awesome cause the second person pays for the product itself, cause the first person has paid all the interest.
point being: you will have to get yourself a loan for what he owes.

i would take it off his hands but i already have to many loans out and dont have 7 grand just hanging around.

 

But doesn't securing a new loan for 7K mean that you also secured the same interest? A 7K loan at 10% interest is actually going to be more than the 6.9% you generally get when you purchase a bike new. I honestly don't see the difference in "take over payments" and "selling bike for 7K."

 

in essence it is just another way of saying "i am selling it for what i owe on it" your loan may even have lower payments. nobody in their right mind would sell it for less than what they owe. he is just saying i want to get rid of it and be done- not even trying to make some coin.

 

yeah you have to apply for your own loan which would actually make it a little cheaper on you cause you will get a cheaper % rate cause you will be borrowing less money then i did ...but that is how it works so just let me know what is going on

 

ttt

 

ttt