NO TITLES!!!!
#11
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Originally posted by: HondaAtcRoxz
What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
#12
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Originally posted by: IdahoVinnie
If this is the case, he does not have the right to sell them and transfer title/ownership. What happens if he misses some payments, and the bank repos the atvs? You will loose them.
Originally posted by: HondaAtcRoxz
What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
#13
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Originally posted by: HondaAtcRoxz
Well what if I get the vin # checked out and it comes back clean? What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
Well what if I get the vin # checked out and it comes back clean? What I think is goin on is that the guy has a loan out on them and the bank has the titles and maybe wont let the titles go without paying on the loan...
#14
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If the bank has the title, the bank owns them. No way around that. You may ask him if you can talk to the bank about them. At the very least, you need to find out from him what he owes. If you're paying him, and not the bank, you can expect to ride them for a short time.
Also, beware of if he sells them to you, and reports them stolen to the bank. Then he's really gotten you into something.
Also, beware of if he sells them to you, and reports them stolen to the bank. Then he's really gotten you into something.
#15
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If the bank holds the titles, then it's a secured loan, with the ATV's as collateral. Nothing wrong with this. However, there is a big difference with the seller saying that there are no titles vs him saying that the bank holds the titles. If the bank does hold the titles, then this is very common - I know that I have bought cars that have a loan out on them as well as sold cars that I still owed money on. Still a pretty easy process - Arrange the sale to take place at the bank - you, the seller and a loan rep all in the same place at the same time. You'll cut a check, the bank will get their share and give you the titles and any remaining balance to the seller. If you are buying for less then he owes, then the bank will require extra money from him before releasing the titles to you.
Still has the same bottom line - you really need to find out the title status before spending any money.
Jaybee
Still has the same bottom line - you really need to find out the title status before spending any money.
Jaybee
#16
#17
#18
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never buy anything without a title. if you do, do it at the bank, have everything officiated. very common practice.
no credible financial institution is going to release a title until the contract is fulfilled. nothing i have ever owned worked this way. i paid them off, i got the title. if someone buys something like this and doesnt get a title for it - it is either stolen or the deaer did not turn in the paper work properly when it was sold. this happend to my cousin. the dealer didnt turn in the paperwork to yamaha and when it was paid for he never got a title. yamaha told him they never received anything from the dealer...to make a long story short, the dealer did this to several people and withing weeks the dealer forwarded his stuff to yamaha then yamaha sent him the title. that dealer is now under new management. some states, however, dont require a title but i cant see a bank not wanting it as security and then giving it up to you when you fulfill the contract.
no credible financial institution is going to release a title until the contract is fulfilled. nothing i have ever owned worked this way. i paid them off, i got the title. if someone buys something like this and doesnt get a title for it - it is either stolen or the deaer did not turn in the paper work properly when it was sold. this happend to my cousin. the dealer didnt turn in the paperwork to yamaha and when it was paid for he never got a title. yamaha told him they never received anything from the dealer...to make a long story short, the dealer did this to several people and withing weeks the dealer forwarded his stuff to yamaha then yamaha sent him the title. that dealer is now under new management. some states, however, dont require a title but i cant see a bank not wanting it as security and then giving it up to you when you fulfill the contract.
#19
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Well... I ended up not getthing them. I know I will kick myself in the butt but i know i saved my self some headace in the long run. It seems that the bank does have the titles. I found this out buy calling them to tell them that i couldnt buy them without the title and the wife answered and told me why he couldnt find/have the title.
Thanks for all your help guys!!!
Thanks for all your help guys!!!
#20
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Originally posted by: HondaAtcRoxz
Well... I ended up not getthing them. I know I will kick myself in the butt but i know i saved my self some headace in the long run. It seems that the bank does have the titles. I found this out buy calling them to tell them that i couldnt buy them without the title and the wife answered and told me why he couldnt find/have the title.
Thanks for all your help guys!!!
Well... I ended up not getthing them. I know I will kick myself in the butt but i know i saved my self some headace in the long run. It seems that the bank does have the titles. I found this out buy calling them to tell them that i couldnt buy them without the title and the wife answered and told me why he couldnt find/have the title.
Thanks for all your help guys!!!