2009 Gsxr 600 forsale no title $5,500 nj
Registered User
Joined: Apr 2008
Posts: 368
From: DF DUBB, TX
Re: 2009 Gsxr 600 forsale no title $5,500 nj
I'm not trying to be a dick to you but I want to shoot you straight on this...
You are asking less than you owe on the bike. I doubt your are going to drop down the extra $2,000 to pay the bike off when it sells. So, the buyer would have to trust that you will continue to make payments on a bike you no longer own. You say you "need this bike gone" so the possibility is there that can no longer afford the payments. If you default on the payments, the VIN is recorded as stolen when the bank cannot repossess it from you. Then a cop will take the bike from the buyer if he/she is are stopped and they will be lucky to not get a receiving stolen property charge out of it and will without a doubt no longer have that bike. That's a lot of trust to give out to someone that you don't know. So before you flame me for this, I'm just laying it out there for you so you can see both sides of the potential transaction.
You are asking less than you owe on the bike. I doubt your are going to drop down the extra $2,000 to pay the bike off when it sells. So, the buyer would have to trust that you will continue to make payments on a bike you no longer own. You say you "need this bike gone" so the possibility is there that can no longer afford the payments. If you default on the payments, the VIN is recorded as stolen when the bank cannot repossess it from you. Then a cop will take the bike from the buyer if he/she is are stopped and they will be lucky to not get a receiving stolen property charge out of it and will without a doubt no longer have that bike. That's a lot of trust to give out to someone that you don't know. So before you flame me for this, I'm just laying it out there for you so you can see both sides of the potential transaction.
Doke knows what he's talking about
Registered User
Joined: Nov 2009
Posts: 13
From: Blaine, MN
Re: 2009 Gsxr 600 forsale no title $5,500 nj
I got some crazy bread left over from my little Ceasers I ate earlier....Ill trade you. Straight up. Think it over, atleast you don't have to worry about going to jail for this deal, I paid for them in full with wrinkly *** 1 dollars bills.
Registered User
Joined: Dec 2008
Posts: 50
From: cincinnati, oh
Re: 2009 Gsxr 600 forsale no title $5,500 nj
I'm not trying to be a dick to you but I want to shoot you straight on this...
You are asking less than you owe on the bike. I doubt your are going to drop down the extra $2,000 to pay the bike off when it sells. So, the buyer would have to trust that you will continue to make payments on a bike you no longer own. You say you "need this bike gone" so the possibility is there that can no longer afford the payments. If you default on the payments, the VIN is recorded as stolen when the bank cannot repossess it from you. Then a cop will take the bike from the buyer if he/she is are stopped and they will be lucky to not get a receiving stolen property charge out of it and will without a doubt no longer have that bike. That's a lot of trust to give out to someone that you don't know. So before you flame me for this, I'm just laying it out there for you so you can see both sides of the potential transaction.
You are asking less than you owe on the bike. I doubt your are going to drop down the extra $2,000 to pay the bike off when it sells. So, the buyer would have to trust that you will continue to make payments on a bike you no longer own. You say you "need this bike gone" so the possibility is there that can no longer afford the payments. If you default on the payments, the VIN is recorded as stolen when the bank cannot repossess it from you. Then a cop will take the bike from the buyer if he/she is are stopped and they will be lucky to not get a receiving stolen property charge out of it and will without a doubt no longer have that bike. That's a lot of trust to give out to someone that you don't know. So before you flame me for this, I'm just laying it out there for you so you can see both sides of the potential transaction.
now the owner could call it in as stolen after he sells it to get a nice insurance check. I would worry about that over the bank reporting it stolen.
Registered User
Joined: Apr 2003
Posts: 856
From: Yonkers, New York
I Have Too Much Free Time
Joined: Oct 2002
Posts: 16,023
From: Bangor, ME
Re: 2009 Gsxr 600 forsale no title $5,500 nj
not true. The bank cannot call in the bike as stolen. they can hire repo men that will hunt the bike down, but the bank does not own the bike. they have whats called "security interest." defaulting on a loan is a private, not legal, matter.
now the owner could call it in as stolen after he sells it to get a nice insurance check. I would worry about that over the bank reporting it stolen.
now the owner could call it in as stolen after he sells it to get a nice insurance check. I would worry about that over the bank reporting it stolen.
Registered User
Joined: Apr 2008
Posts: 368
From: DF DUBB, TX
Re: 2009 Gsxr 600 forsale no title $5,500 nj
I Have Too Much Free Time
Joined: Oct 2002
Posts: 16,023
From: Bangor, ME
Re: 2009 Gsxr 600 forsale no title $5,500 nj
Right. He's saying the bank doesn't own the vehicle so they can't report it stolen.
Registered User
Joined: Jul 2003
Posts: 1,380
From: ofallon mo.
Re: 2009 Gsxr 600 forsale no title $5,500 nj
The vehicle is the collatoral for the loan. You don't pay the loan the bank takes the security for the loan. The bank doesnt buy vehicles, they secure the loans they give out.
I Have Too Much Free Time
Joined: Oct 2002
Posts: 16,023
From: Bangor, ME
Re: 2009 Gsxr 600 forsale no title $5,500 nj
Attack Squirrel Owner
Joined: May 2009
Posts: 3,365
From: Kingston, PA
Re: 2009 Gsxr 600 forsale no title $5,500 nj
Honestly, I only wanted to explain to the seller why some guys on here were fired up. I was trying to keep it simple. Sorry if I did not explain it fully or properly. I think I got the most important point across though...that it is a lot of trust that he will pay off the bike so that you are in no danger of losing it.
Last edited by DOKE; Jul 30, 2010 at 10:41 PM.
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