Hey Guys,
So here is the situation, I am looking at buying a bike over here for the chits and giggles, and to get me from point A to point b.

I found a guy with a 06 600RR great deal. He is the first owner, Never laid the bike nothing Great condition great price..... Now the problem is he doesn't have the title...

Now this seems like a simple task but its not really. He owes 18,000 on the bike because he bought all these accessories from the dealer and had them install it. Now Since there is a lien on the title. He doesn't have it and Doesn't want to pay the rest of it because the interest is 28.5% or something compounded weekly.

He wants to sell it as is, as a parts bike....

Now here is the situation.. If i buy the bike he can produce a bill of sale, that we both sign... However Technically the bike does not belong to him.... Therefore, Is he legally able to do this?

If i buy this bike and the bank comes after him, he tells them who he sold it to. Can they Repossess a bike i legally paid for? Also the only way i can see this bike would be street able if there was a new frame replaced...

This seems like a huge pain in the a$$. So the real question is... Is it worth it? Is it safe and should i do it?
Thanks Guys
Jason

 

Stay AWAY from this like the plague!!!!!

Yes they can reposses it from you.. And you would lose all your money. That and you might have to pay off all the loans on the bike as well. Kinda depends where you live.
He's probley used it as collateral in a high intrest loan, not "all the assesorys. And thats why he's trying to ditch it.. Go find anotherbike man

 

Dude, are you kidding? There is sooooo many ways this could turn around and bite you in the ***! Don't even touch that bike!!!!

 

he cant legally sell without paying it off n providing a title.

 

bill of sale means nothing he does not legally own it so he cant sell it ..

its like me stealing your car and reselling it to joe smith with a bill of sale ...

 

Yup he can't sell the bike without paying off the loan against it. You would in effect be buying a stolen bike that he will default on. Then they will ask him where it is and I'm sure he'd be happy to point at you.

 

Nothing good can come from this.

I bought a 2004 CBR 600RR, and the seller did not tell me there was a $9,000 lien on the bike, as well as the $4500 I had already paid.

I did eventually get the title because I filed a complaint with TXDot, but by the time I got it I was so pissed about the whole thing, (you have no idea the BS I went through)...

Anyway, stay away from bikes without a clear and clean title.

My two cents.

Why would you pay 18 grand for a bike that brand new is only $8900 or so?

 

i went through something similar with my first bike. the guy i bought it from didnt have the title in hand, but had a copy of it because there was still a lien on it. he was going to take the cash i gave him to pay it off. long story short, i didnt get the title for a whole year. i had a bike sitting around that i couldnt ride because i couldnt get it registered without the title. i would definitely stay away from this sale.

 

Well, I realized a few things so i am DEFINITELY staying away, due to technicality if he sold the bike to me he could call the cops and say his bike was stolen. Allowing him to file an insurance claim and have the insurance company pay off the lien. Then getting him off the hook...

I just got excited you know cheap bike. Nice condition... No title.. deal breaker big time... Though he didnt exactly mention this in the ad...

 

Im glad you came to your senses on this one. In all honesty, the bike is probably stolen. Just an FYI. Just because he has a lean on it, if he was truly the original owner of the bike, he would still have the title. It would have the bank as the lein holder, but he would still physically have the title to show you. If he doesnt, its stolen.

I might even be inclined to call the cops. Theres nothing I hate more than a dishonest douchebag trying to screw anyone and everyone they can. Just remember, if this guy is willing to screw over a bank or insurance company, he will have no problem screwing over you at the same time. dishonest people are that way with everyone they come in contact with.

Also, I understand the want to buy a bike at a good deal. But in this situation, you would be no better than this guy trying to screw over the bank. He obvioulsy has some issues if he owes 18 grand on a bike that is only worth 6 grand at best.

smart decision to stay away.