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Discussion Starter #1
hello,
he
re's the situation. i have an mv f4. it was financed through the ex girlfriend. she disappeared and filed b.k.
the finance company has already charged the account off. so im sitting here with a perfect mv in the garage, with no title. i have located a frame overseas that comes with documentation(im guessing their version of a title) however i need advice on whether or not this can be titled at my local dmv. i called dmv and they are clueless. they are like" just bring in the title and we can do it" why do i feel like its just not that simple?
any advice or past, current experiences on this would be greatly appreciated. perhaps someone has had a bent a frame they replaced and went through this situation already. if not i guess i have a track f4 for sale. i mean this bike is perfect without one single scratch!
thank you

 

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Hello back. It seems to me that you have the bike, and the loan is still due to the finance company.  The fact that they have charged off the debt does not remove the moral obligation to pay the loan balance.  The fact that the ex gf filed bankruptcy  has no moral standing in my opinion.

Maybe you should give the bike to the loan company, or negotiate a reduced payoff in return for the title on the bike.

I think my motto "Place interest in principle above interest on principal" pretty much sums it up.
 

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Hello back. It seems to me that you have the bike, and the loan is still due to the finance company. The fact that they have charged off the debt does not remove the moral obligation to pay the loan balance. The fact that the ex gf filed bankruptcy has no moral standing in my opinion.

Maybe you should give the bike to the loan company, or negotiate a reduced payoff in return for the title on the bike.

I think my motto "Place interest in principle above interest on principal" pretty much sums it up.

Well said!
 

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Nope

Are you in the US? If so, the finance company owns that bike. Any attempt to modify the bike (changing frame/VIN) could reflect negatively (to say the least) when they come looking for the bike, or worse, you try to register it.

Follow the recommendation posted above. Reach out to the finance company and see what they would be willing to release the title for. With the market the way it is, there's a good chance you can pick it up for a good discount.

If you have a point of contact within your insurance company, they may be a good source of info for what a finance company may be willing to lose.

Good Luck
 

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Discussion Starter #5
title work

yeah i tried to settle with the finance company already and they told me they dont own the loan anymore and would not release any further information. i pulled our joint credit and nothing is found. hey i would gladly break even with finance company but it seems they dont care about the money.
 

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Is it possible the Finance Company has sold the debt/bike to a bailiff or some other company that's going to come looking for it? I'd be inclined to wait at least a year or so before proceeding further - plus get some legal advice.
On the face of it, if you had the title to a frame and engine block you could use your MV as a donor. That way you avoid changing any numbers on the papers. I'd make sure I had well documented conversations with the finance co - they won't let you ride it in jail.
 

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Why don't you ask the finance company for a letter releasing the lien if they have written it off their books as they say. With the release of lien letter you could go to the state DMV for a duplicate and clear title.
 

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They still hold the title, they still own it. I went through something similar years back. You will need to contact State Patrol to do an official TITLE INSPECTION. Then they will have to OK it for the DMV.

DMV:
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It is a gross process, but it will have to be done. I guarantee they care about the money, just because you talked to some half-wit at some lower level within the finance office, does not mean you are free and clear. Far from it. They get paid $10 an hour and really don't care what they say to you, which is why it's imperative that you follow up by every means until you have the title.

Even when you think you are free and clear you might not be.

When I went through this 5 years ago when I bought a Cadillac with a "flagged" title (previous owner pulled a stunt), DMV did not even catch it until >I< sold the car a year later. The FBI contacted me and told me to come in immediately before local law enforcement would be posted with a warrant for my arrest...they are always watching this stuff now.

To make a long story short, it all worked out in the end, luckily because I had receipt for my purchase of the car, and a bill of sale.

LIENHOLDER:
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If they say they have no record, BS, find out what company it was passed off to, or who owns the bike now. If they say its totally free and clear, ask who holds the title, and ask for a number and address. Explain to them you own the bike now and need the title, if they understand ALL the information, they might be more willing to help. ALWAYS get names of people you talk to, and last names, case numbers, contact case numbers etc. DOCUMENT everything. All these agencies have address's, mail them if they dont give you what you want, when it comes down to it, they have the title somewhere, or sold the account (lien) with the title to another Bank, this happens a lot. DO NOT simply take what they are saying for face value without WRITTEN proof to your door step. They could care less if you get your title.


SP:
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I would make quick work of contacting State Patrol, AFTER you have properly received the title from the lien holder( you will HAVE to pay somebody <BANK> to get title, someone mentioned above just ask DMV for another title, or file for lost title: that will land you in Federal Prison, the FBI will flag your title, and they WILL contact and find you, again ASK ME HOW).

SWApPING FRAMES/ DIFFERENT TITLE:
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Another thing, I would NOT recommend buying another title-able MV frame, or title. Some states like California, this can actually get you onto a hot-list for the FBI.
In the end, buying another title or frame will be a fiasco with DMV, they will eventually catch it after a year even (should some moron at DMV "accidentally" title it for you)...ask me how I know.
You will have to prove that it is for track use only; most of the time, and it will not be street legal. Sometime they will re-brand your title (WOW, not good) as a "rebuilt" or "totaled" or even a "non-conform: custom" in where the title is no longer a MV motorcycle!!! It will be a frankenstein bike as far as the title is concerned with the state.

This all comes from experience when I had to go through it myself.

TO DO:
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Do as I mentioned above, getting the title from the lien holder(s) and then go to State Patrol for inspection, even if you DMV says you don't need to, contact them after you have the title in hand, and get an officers NAME that says you don't need an inspection ( for your State; for reference). That way you are protected and wont get held up in some legal nightmare.
 
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