Buying used TM

[Louis]

So I have been looking for a used tm for a empty van in my driveway. Every time I find one it’s not paid off and the guys are just trying to sell it and have no interest in transferring ownership.
Anyone ever buy a tm that’s not paid off with out transferring ownership with the leasing company? I was told if I do one of these deals I could be on the hook for the balance if the the guy gives your name to the leasing company. Any advice would be appreciated.

 

[Kenny Hayes]

Flee!!

 

[Cleanworks]

If there is still a lien on the unit, if the leasing company finds where it is, they have the right to seize it.

 

[sassyotto]

I bought a used TM from a guy in Las Vegas who was on a lease but he transferred ownership so there was no problem. If they cant pay out the lease then you arent really buying it.

 

[Desk Jockey]

I believe their plan is to pay the balance out of what he pays them for the unit.

I wouldn't do that. Keep shopping, something will come up.

 

[Louis]

I’m looking. Two in a row so far. When you are looking for a 570 in California it’s hard.

 

[Jim Williams]

Your local bank may be able to do a loan for enough to pay the other guys loan or lease off.

 

[Old Coastie]

Surely a transfer of debt could be arranged with whoever is financing it.