trying to buy a used financed bike

ACBraap
Posts
988
Joined
2/10/2012
Location
Seattlish, WA US
Fantasy
450th
4/13/2018 12:57pm
I bought a van remotely, with a lien involved, and used escrow.com to handle receipt of funds from me, disbursement to the sellers lender and the seller, and such. Other then the seller using a local bank that took forever to mail the title, it was pretty smooth.
ledger
Posts
3673
Joined
1/17/2013
Location
TN US
4/13/2018 2:48pm
ledger wrote:
Make an offer. Only 30 minutes total. Clear title.[img]https://p.vitalmx.com/photos/forums/2018/04/11/254970/s1200_IMG_20180223_205915003.jpg[/img]
Make an offer. Only 30 minutes total. Clear title.

jonboy688 wrote:
what year and what part of tenn?
16 Anniversary Edition. I'm in Lebanon, about 20 minutes east from the heart of Nashville.
hondajoe401
Posts
31
Joined
5/29/2011
Location
Florence, MA US
4/13/2018 4:28pm
dirt bikes, dont have titles . they have certificate of origins . that are in the sales file at the dealership where bike was purchased . when loan is paid in full ,lender will send letter to original purchaser. saying they can go to dealer get certificate . most never are even requested buy the owners , a bill of sale is all thats required.
alex465
Posts
12
Joined
3/23/2017
Location
Darien, CT US
4/15/2018 10:14am
Thank you everyone for the help. I just got one that came with all of the paperwork.

The Shop

T-Fish
Posts
3047
Joined
12/14/2009
Location
Sparta, WI US
Fantasy
199th
4/15/2018 12:33pm Edited Date/Time 4/15/2018 12:34pm
40acres wrote:
The bank is not going to let you pay the bike off for the current owner. Title is only released to the name on the loan...
The bank is not going to let you pay the bike off for the current owner. Title is only released to the name on the loan. We had a customer who purchased a Yamaha from our shop and passed away prior to paying it off (unrelated to the bike). Capitol One wouldn't accept payment from his own brother who wanted to keep the bike. He ended up dropping the bike off to us for a voluntary repossession for Capitol One and they told us they arent coming to pick the bike up. Yamaha also does not use CapOne any longer, they've completely exited the powersports industry. Yamaha has their own financial institution so you won't see any new loans with capitol one. There is absolutely nothing you can do to ensure the owner pays the bike off, receives the title and then hands it over to you. You'll more than likely be stuck with a bike that has no title. That's the #1 reason you see bikes for sale without a title. They've never paid them off or don't plan to so there is no title. You do have a few options.

1) buy the bike and cross your fingers he's honest
2) be patient and find one with a title
3) buy new and get your own title
The #1 reason you don’t see bikes with titles here in Wisconsin is because they don’t have titles. Not everyone is a crook.

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