I bought a used warrior 2 months ago and I still haven't gotten the title from the sellers. They said they still had a loan out on it and were going to pay it off with the money from the sale.

It's been almost 2 months now and I am still getting excuses from them as to why they haven't gotten the title from the bank.

what can I do?





thanks
Bill

 

You do have a bill-of-sale or cancelled check, right? Remember "The Ox-Bow Incident!"

Nevertheless, the bank may seize its collateral, the quad, repossessing the vehicle if the original makers default on the loan. (Ever see, "Repo Man?") Then, you'd have a claim against the sellers, but: just like the bank, YOU'D then have to collect from them even if you receive a judgment!

Doesn't sound like your request for either a title or your money back in exchange for the quad would be effective. You may need legal counsel.

Possibly, the sellers have "informally refinanced" the quad; that is, they spent the money you gave them, and they may or may not be making regular payements to the bank on their loan. If they default, the bank may not repossess the quad; maybe they can't find it. But; how, then, will YOU sell it when the time comes? You could experience some grief (along with your surrogate sucker) for selling something you don't legally "own."

I've heard of some buyers caught in this trap paying off the note themselves, just to get a clear title. Here's hoping you settle the business painlessly and to your satisfaction.

Tree Farmer

 

As Treefarmer has said, hopefully you have a cancelled check. If all you are getting is excuses, then its time to get a lawyer. It is better to do this now just in case these people up & move sometime soon!

Good luck, I don't like lawyers but unfortunately sometimes there is they are a necessity.

 

My first question i ask sellers is DO U HAVE A TITLE?? If they don't the bike isnt even woth looking at. I said NO title No sale>> Remember that for future reference...

 

Sorry but I must agree with the other posts. With no proof of a legal transaction having taken place, you simply paid someone a nice sum of money to keep "their" quad parked on "your" property.

Check with you local Justice of the Peace to see if the matter can be taken to small claims court. The amount in question would determine if so. That would be your cheapest way out since the two of you would simply present your case to him/her for resolution.

Try not to bash yourself too much. Everyone is guilty of a "bonehead" decision at least once in their lives.

Good luck.

 

I do have a noterized bill of sale and copies of the money order though.

Live and learn.........


Bill

 

Actually, that brings up a interesting dilemma. Up in the corn fields of new york, I dont think anyone would have a title for a machine unless it was new or a few years old, or its only seen a owner or 2. I bought my 84 250R, handed my $250 over and got a handshake in return, not even a bill of sale! I'm the third owner of it. The only machine I ever got a title with was an 83 YZ125 dirtbike. And I've purchased many bikes and my Atc. I guess the deal around here is cash, and a good job of checking the machine over so you know what your getting. Any one else do this too? -Mike

 

As s VP of a bank that finances cars, atv's etc., I agree that the bank may not be paid off and are looking for the atv. I wouldn't go as far as no title, no sale, but if the sellers tell you they owe on it, then you should pay the bank off directly and not trust the seller to do so. This way you can obtain the title and have it signed by the sellers. Obviously, the bike is worth considerably less without a title, but there are people who would buy it.

 

Good points. As you would when buying a car, better to meet the seller at his/her bank and pay the loan off yourself.

ATV owners in Texas are not required to register their qaud unless they intend to ride it on public property (National Forest for example). However, anyone who purchases a new ATV should also get a Certificate of Origin from the dealer which proves ownership as well. Cannot remember but this document too might list the original lienholder.

Sounds like you have what you need to take this issue to court if necessary.