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View Full Version : Seem a little odd?


Rocket Power
05-07-2008, 08:38 PM
I was cruising ebay for a Cheap bike (reeeeaaaalllll cheap:goof) and saw this. Chick lays bike down and is trying to sell it but doesn't have title because she's still paying it off. I bet whoever she has the loan with wouldn't like her selling "their" bike.


http://cgi.ebay.com/ebaymotors/2006-Katana-600-Wrecked_W0QQitemZ360048641770QQcmdZViewItem?hash=i tem360048641770&
Crawlin
05-07-2008, 08:45 PM
WI is one of the only states that if you have a lien on the title, you STILL get a title.

but that's pretty funny.
USMARINE1108
05-07-2008, 10:42 PM
WI is one of the only states that if you have a lien on the title, you STILL get a title.

but that's pretty funny.

But the title specifies there is still a lien on the vehicle IIRC.
lordairgtar
05-07-2008, 11:13 PM
Something fishy about this one. Seems like insurance would be required because of loan. Yet they are trying to sell it. Why not just get it fixed if it's not badly damaged. I'd buy it for $300 if the title could be cleared.
0TransAm0
05-08-2008, 05:46 AM
you dont need a title if he is selling it for parts wich they say thats what he is doing in the ad.
Breecher_7
05-08-2008, 05:50 AM
Something fishy about this one. Seems like insurance would be required because of loan. Yet they are trying to sell it. Why not just get it fixed if it's not badly damaged. I'd buy it for $300 if the title could be cleared.

Most financing companies dont "check" to see if you have insurance. I know GMAC, Chase and HSBC dont for sure.

They "require" it though and assume you have it.

People do this shit all the time.
Rocket Power
05-08-2008, 06:32 AM
But if they stop paying and the bank tries to repo the bike, wouldn't they then come after the person who bought the bike to get it back, since they have the title they own it, and you're a$$ out
Yooformula
05-08-2008, 08:38 AM
so if you buy it wouldnt you be in possesion of stolen parts since she cant legally sell it? the bank is going to want their money at some point.
88Nightmare
05-08-2008, 08:50 AM
Most financing companies dont "check" to see if you have insurance. I know GMAC, Chase and HSBC dont for sure.

They "require" it though and assume you have it.

People do this shit all the time.

On the contrary, the insurance policy was over for my mothers Saturn, and not even 1 day after the policy expired, we received a letter from GMAC letting us know that, and we need to get them a copy or proof of insurance ASAP. We were in the process of changing insurance companies, and get everything squared away, but when insurance ran out on the car, they were on top of it.