I am making payments on a motorcycle and cannot ...

I am making payments on a motorcycle and cannot afford it anymore. It is a year old. I cannot sell it because it depreciated too much.  I will still owe if I do that.  I thought about just giving it back to the dealer or having someone resume payments, but these options come with consequences.  What is the best option for me?


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  • # Posted 5 months ago
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If you have someone assume the payments or give it back to the dealer you are technically selling it.

There are a few options.  Get more money through a part time job; take it off the road thereby stopping costly insurance costs, which might help detract from your money payments, and you will still have the bike; arrange someone to take on the payments, or discuss with the dealer.

Keep in mind if you go to the dealer, you will have less of a negotiation possible.

 
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If someone assumes payments, then how do I get my name off the title?  I would not want to carry the liability of someone else on my name.
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I cannot locate the answer.
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