How's this for frustrating - Chicagoland Sportbikes
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post #1 of 5 (permalink) Old 04-05-2003, 03:26 AM Thread Starter
 
Join Date: Nov 2002
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How's this for frustrating

For any of you that don't know my story, I bought my R6 in late September used off some kid. I never bothered to transfer the title for two reasons. Reason one being that the bank never called me to say that they had the title, and reason two because the bike was going right into storage, so I thought I'd just wait til the spring.
I went to my bank where I got my loan from, and asked if they had the title so I can transfer it and get plates for it. They said they never got it yet. The previous owner's loan has been paid of, so the only lean on the title is my banks. My bank told me I'd have to contact the previous owner to see if they ever got the title, and if not they'd have to make a new one.
My question is how exactly does that work? and will I be able to get plates for the bike before July now if the previous owner never got the title?

Mike
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post #2 of 5 (permalink) Old 04-05-2003, 08:19 AM
 
Join Date: Apr 2002
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Your bank can request a duplicate title as the origional one is "lost"....not sure who they request it from, but your bank will make sure that their loan is "secured" with the title of the bike....

I went threw something similar, and the lender requested a duplicate title for their records.
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post #3 of 5 (permalink) Old 04-05-2003, 11:04 AM
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If you can't get the original title, you're going to have to have a bill if sale WITH VIN from the registered owner. You MIGHT even have to have the original owner get a replacement title then sign it over to you. If you start now you should be able to get this done by July.

Dave
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post #4 of 5 (permalink) Old 04-05-2003, 12:16 PM
CHeYeNNe
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Get a hold of the original owner and have that person contact his bank to check and see IF they even sent it out. If they did your gonna have to have the original owner put in for a "Lost Title" and I've heard it can cost some money and takes some time to do.
To put in for a "Lost Title" you have to go thru the DMV.

I wouldn't wait to much longer so that you can guarantee to have the title by July.

Cheyenne
post #5 of 5 (permalink) Old 04-05-2003, 02:57 PM Thread Starter
 
Join Date: Nov 2002
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I do have a bill of sale with vin number on it already. I guess I'll call him monday.

Mike
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