So I made an offer on a bike (private sale) 12k and they accepted. They told me beforehand it was still under finance. I've bought a car before under finance and I made out 2 bank cheques. 1 for the finance company for the amount owning on the loan and 1 for the seller for the balance of the amount. We both went to the finance company, I handed them the cheque and they produced a letter saying it was fully paid and they had no more interest in the car. Car was then signed over to me. This bike is a little different. After they accepted my offer of 12k and I said I'd make out 2 bank cheques, they tell me they owe more than 12k in finance on the bike. I'm not sure how anyone could get into this situation but it looks like the loan was refinanced to be extra parts for the bike. They fitted pipes and other bits totalling up to around 2k I'd say. I know most people are gonna say to stay well away but this is a good deal on a good bike. So what I think I need to do is get in contact with the finance company, find out exactly how much is owning. If it's say 15k seller will have to pay down the loan until the balance is 12k. They produce a letter saying balance is 12k. I give them the 12k bank cheque, they produce another letter saying the balance is paid and they no longer have an interest in the bike, seller hands over keys and signs over the rego papers to me right there. I'm in NSW/Australia. I'm hoping someone else in Australia has been through this before or someone works for a finance company and can tell me exactly what needs to be done. Finance is with Yamaha finance. I am paying cash money for the bike.