Selling vehicle PP to friend - how to do registration? (insurance, bad credit)

[uRabbit]

I'm selling my motorcycle private party to my buddy. How do we do the registration? Obviously, he needs it in his name, but he can't have the title until he pays it off. How does this go? Can't find info on dol.wa.gov.

[Wooly Bear]

I haven't lived in WA yet, but in the 3 states I have lived there is a place on your title to indicate a lien when selling. His new title will show you as the lien holder. If you value his friendship, tell him to borrow from a bank and pay you in full. Debts between friends just don't work. If his credit is bad, there is probably a reason for that- and usually it means he can't be trusted to pay on time, and frequently not at all.

[Wooly Bear]

I haven't moved to WA yet, but in the three states I have experience with there is a space to show a lien when you sign over your title. If WA does it the same, they will send you the title to hold until it is paid off; then you would sign that the lien is released. BUT I don't recommend it. If he is reliable he should go to a bank to borrow the money. If he has bad credit there is probably a reason for that- and if you assume that risk, the odds are high that you won't get paid. He might wreck it after letting his insurance lapse, or just skip with the bike. I learned that the hard way- and since your question was posted last April, I suspect you have learned it too.

[Wooly Bear]

Sorry about the double post, folks- I'm knew at this, and thought I'd lost my response.