Selling down a motorcycle with financing?

[bkksteve123]

Hi,

 

I've been thinking about selling a bike which still has financing on it (21 months left around 200k). I was planning on paying off the entire loan next month and then sell it for cash, but the new buyer doesn't have enough cash and will need financing anyway.

 

I've tried asking Krungsri Auto about this, but I can't get any clear answer due to, let's call it "language barriers".

 

Has anyone here had experience with this before? What is the process of transfering the bike to a new owner while it has financing left? Would Krungsri Auto essentially refinance the loan of the bike with new terms (i.e. different interest rate) depending on the new owner (buyer is Thai). Or just change my name to his?

 

Also, what is the process for this? I assume I would need to go to Krungsri Auto with the buyer and process the whole thing there?

 

Regards,

S