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Bike bought on finance from family member
My mother has said I can have my Christmas present early and she will get me a motorbike, but as she's wanting to get me a brand spanking new bike, she's going to take it out on finance
If the finance is in her name, would that mean that the bike is legally hers, or does she have the right to transfer the bike to me
If the finance is in her name, would that mean that the bike is legally hers, or does she have the right to transfer the bike to me
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Comments
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This all depends on they type of finance she uses.
If she puts it on a 0% card or takes out a normal loan then the motorbike is all hers and she can do what she likes with it. Would suggest buying it directly in your name so you take possession of the new bike with 0 previous owners.
If she uses some sort of finance secured on the mototbike, then she cannot transfer ownership to you although it MAY be possible for you to be the registered keeper.
Also watch out for the insurance. You may encounter difficulties in trying to insure a motorbike which is not yours.0 -
Is this your first motorcycle? If it is I suggest that you do not buy a new one.0
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