On looking over the title that was signed over to me.. on the lower portion there is a part that says "One Lien Recorded". Should I be worried about that? The seller didn't say anything about it, he just signed it over to me. It's a NY title.
Call the Dept of Motor Vehicles and ask them? :cry:
Hmm.. touche. I should start thinking before posting.
Yes, it is something to be concerned about. I would get back in touch with the seller and ask about the situation, find out the amount of the lien. Did the seller claim to have a free and clear title to the bike when he sold it to you?
I didn't really ask, to be honest. I don't really understand what a lien is.
Quote from: Altephor on July 05, 2006, 12:03:09 PM
I didn't really ask, to be honest. I don't really understand what a lien is.
A lien means someone else owns part of the bike (i.e., money is still owed on the bike)... At least, that's my understanding. Definitely call up the DMV.. and as for thinking before posting.. don't worry about it.. I refuse to think at all, much less before I post! :laugh:
If there was still a lien on the title the seller wouldnt have it, the lending institution would.
Ah. Ok so I should have nothing to worry about because he had it. I e-mailed him just to be sure. Now if my gear would just arrive so I could go and register! Apparantly at newenough.com, same day shipping means we'll ship 5 days after you place an order :mad: .
Quote from: ajgs500 on July 05, 2006, 12:17:44 PM
If there was still a lien on the title the seller wouldnt have it, the lending institution would.
thats not really true... you do get a copy of the title (at least I do for my car), but it says there is a lein holder, much like what he has. When you pay off the lein, you get a stamp or something saying that lein is clear. The PO may very well have paid off the lein holder, but never got around to having the title updated. I would go to the DMV and ask them, you have to anyway to get it registered so you can drive it on the street.
When I bought my car at the dealer they gave me an application for title form to present to the BMV, basically just a piece of paper that told the BMV who had the title ie the lending company. The BMV kept that paper and and all I have now is the bill of sale and the registration. Now the bike, on the otherhand, I have title in my possession since there is not a lien on it.
Quote from: Altephor on July 05, 2006, 11:58:18 AM
Hmm.. touche. I should start thinking before posting.
I wasn't baggin' on ya'. They were just the first agency I could think of that might be able to give you the fastest info. Let us know what ya' find out. :kiss3:
ummm BMV= slow and inept
ok...replace quickest with "most accurate".....
wait....*sigh*....
Ok..they *might* be able to give SOMETHING *close* to what *might* be the problem sometime this century.... :cookoo:
yeah idk I did think it was wierd the dmv sent me the title for my car even though it had a lien on it... maybe it's a state by state thing :dunno_white: (this was in NY, and we all know NY is ass backwards)
in some states, titles go to the lein-holder. in others, they do NOT, they go to the buyer with a lein indicated on the title. Check your state laws about this detail.
Edit: at least I think this is true. I'm pretty sure that I had a title once that indicated the lean. Can't remember if it was VA or MD. Your best bet still is to check it out with your DMV.
Just wondering . . wouldn't the previous owner be responsible for paying off the lien? Unless a contract was signed saying that Altepor would finish paying it off?
I know in Ga you don't get the titile till it's paid off bike or car. And that you cannot sell a car with a lien without a contract stateing it has a lien and that the purchaseer agree's to finish paying it off. Otherwise the purchaseer can sue ( spelling? ) the seller.
Well that's essentially what I'm worried about. That I could be getting screwed.
The lien says
Household; Retail Services
PO Box 4145
Carol Stream, IL 60197
I'm getting a little nervous because I tried looking them up on line and get a lot of hits for scandals.
if your title has a lien on the title, and you don't have any proof it was paid off, sounds like you got screwed. id definetly go back to the seller an see whats up
HSBC is the lean holder, that is who does the finacing for suk shops and others. here is a nummber
1 847 564 5000
that is the main office
Well I got in contact with the seller and he said the bike was paid off and that he would send me proof that the loan was completed tonight sometime. So I'll have to wait for that, I guess. :icon_rolleyes:
It's possible that he simply didn't clear the title when he paid off the loan. You're supposed to, but perhaps he didn't want to pay a few extra bucks to get the new title in only his name....a real pain for you (and needless heart attacks).
Let me know if my services are needed over there... (http://i71.photobucket.com/albums/i134/dlchris1/whip.gif)
So all I need is proof that the loan is paid, correct? Obviously if it is paid off he should have a record of that.
This is such :bs:, I just wanna ride my bike, damnit!
Yeah there was a lein on my GS title when I bought it (in NY). In order to transfer the title you need to bring a letter from the bank with the VIN saying the lien has been satisfied. That's all. The seller gave me the letter with the title and there was no problem.
ugh I have a feeling this is gonna be a major headache.
Don't borrow trouble...just bug the chit out of him 'til he gives you the letter you need. Be firm, but friendly. Give him the benefit and hope for the best....but don't let it go on for long...Try to get that letter today, and don't put off changing the title, etc.!
He said that he would fill out both a bill of sale (because the one he gave me was basically devoid of any info), and the letter of lien release and scan them both to me to print out. I'm also going to ask that he mail me the originals.
:thumb:
Yeah well don't thumbs up yet.. the time for thumbs up comes when I get a CT title lien-free and a license plate in my hand, ya know?
The :thumb: is because you're working on this the right way.
We'll bestow a hearty :cheers: when all t's are crossed and i's are dotted! :icon_mrgreen:
Well I don't drink so if everything turns out alright, you can have mine too! ;)
So.. he said that he would send me the necessary paperwork last night.. it's now 9 am and nothing :mad:. I'm starting to get a little pissed off.
Well hopefully I can just get a letter of lien release from the actual finance company rather than going through the seller. HBSC is supposed to call me back in like a half hour, hopefully I can get all this resolved today. Even if I have to wait a few days for the letter of release to come, it's worth it if I can get all this stupid shaZam! resolved.
any luck, it 2 hours latter
Quote from: Altephor on July 06, 2006, 10:21:22 AM
Well I don't drink so if everything turns out alright, you can have mine too! ;)
I can live with that! :cheers: Hope this turns out well....
Apparantly I have to send a fax to the lien company, and can't do it by phone because they need documentation.
I think along with the title and what not I'm going to send them the suggestion that they F****** GET PEOPLE THAT SPEAK ENGLISH ON THE PHONES!
Still nothing from the seller.. tried calling him about 6 times so far today alone.. nothing.
I am so pissed right now.
Well your doing this the correct way. Your attacking the problem rather then the seller. Although as for the foriegn customer service. Well welcome to the 2000's. Isn't it fun?
What does the bank want? A letter from the seller? Probaly since your asking for finicial information and they're worried its a setup to get them caught giving out personal information. Or that its some kind of weird phishing attempt.