04-15-2010, 10:55 AM | #11 | |
Designated Drinker
Join Date: Jul 2008
Location: shitville
Moto: 2009 ZX6R
Posts: 1,661
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Huh??? Of course the lienholder is on the title. The state puts it there, and the lender keeps it. They only stamp it when the title is released.
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04-15-2010, 10:56 AM | #12 | |
Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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Thats annoying. |
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04-15-2010, 11:00 AM | #13 | |
Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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I've always had immediate possesion of the title because I either bought it outright or it was done through the manufacturers finance arm. I didn't know that the some institutions held the title until payoff. |
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04-15-2010, 11:02 AM | #14 | |
Geek
Join Date: Feb 2008
Location: Papillion, Nebraska
Moto: 2011 Husqvarna TE630
Posts: 1,437
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I am dumping money into the loan as we speak. I should have the bike paid for by fall if it's not sold by then. |
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04-15-2010, 11:03 AM | #15 | ||
Designated Drinker
Join Date: Jul 2008
Location: shitville
Moto: 2009 ZX6R
Posts: 1,661
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Quote:
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04-15-2010, 11:06 AM | #16 | |
Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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Quote:
Here, I received the title a month after purchase stamped with the lienholder. When its paid off, I get a letter indicating that the lein has been released. Both are given to the buyer. |
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04-15-2010, 11:07 AM | #17 |
Geek
Join Date: Feb 2008
Location: Papillion, Nebraska
Moto: 2011 Husqvarna TE630
Posts: 1,437
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Yeah I know. He was a good kid. If it doesn't sell before I have the title in hand, so be it. That just means more riding for me! If my bike sells right now, I have to sit out this season while I sock away money for the DS.
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04-21-2010, 08:36 PM | #18 |
Geek
Join Date: Feb 2008
Location: Papillion, Nebraska
Moto: 2011 Husqvarna TE630
Posts: 1,437
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Sold, pending funds!
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04-22-2010, 07:48 AM | #19 |
~Italian Stallion~
Join Date: Mar 2008
Location: North West Georgia
Moto: 2000 Yamaha YZF-R6
Posts: 446
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Congrats. You get the 6500 you wanted?
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04-22-2010, 08:48 AM | #20 |
Geek
Join Date: Feb 2008
Location: Papillion, Nebraska
Moto: 2011 Husqvarna TE630
Posts: 1,437
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Close enough that I can't complain.
Since me not having the title in hand was a topic of discussion, here's how it all went down: 1. buyer gets loan from his bank 2. bank cuts two checks, one goes straight to my bank for the payoff amount of the loan 3. second check goes to me 4. title goes directly from my bank, to his bank (neither of us touch it) 5. done! The money exchange should be happening some time today, at the buyer's bank. If all goes well, the bike is officially sold. If anything falls through, the bike is still up for grabs. |
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