Originally Posted by dondee

I couldn't be understanding this correctly.

You gave a guy a cashier's check for a bike and only got a bill of sale and a "promise" that he'd pay it off and hand you the title a month later when he got back to town?

Please tell me I've missed something here.

Originally Posted by dondee

Except that there's a bit of a catch-22 conundrum here. No bank or credit union will advance good cash money or other negotiable instrument until they have the clear title in their hand. Just a promise from Harley won't do it. And Harley won't release the title until they have not just certified funds in hand, but cleared certified funds.

There's no incentive for them to do such just to make a couple of points of interest down the road-the downside risk is just too great.

All this is now complicated by the times we're living in; a buyer has to be not only in an extreme equity position to obtain third-party financing on a discretionary purchase like a bike, but he must also be solid gold credit wise.

Originally Posted by Karsten

Nope...you got it right. Cashiers check for $ for both the SB and the H3...get a Bill of Sale and keep a copy of the cashiers check....here if they were to cash the check and not send the Clear Title....some one is gonna be in deep kimchi.

It also helps if the back of the check says

Endorsement of this check guarantees Free and Clear Title to ____ _____ Vin#__________

Not many people walking around these days with a stack of Titles to toys they have paid off.

Karsten

Originally Posted by Griff08fxdc

Have both partys go to a Dealership....They will do the paper wpork and DMV stuff for a fee....

Originally Posted by dondee

Karsten, all that stuff is meaningless if the seller decides to stiff you and disappears. Or sells you a stolen bike, or whatever.

You are indeed a very, very fortunate man.

Originally Posted by rmatt34

REALLY ?

Becuase they do it thousands of times a day at hundreds of dealerships all over the country with cars and motorcycles ...

Think about it, you go in to buy a car ...do you have to wait for the bank to get the title before you can drive it home ?

you are very very wrong...

Originally Posted by dondee

Of course not.

Dealers are by definition licensed by the state in which they do business and have to post a bond which is for the sole purpose of making sure that a buyer is made whole if the dealer defaults.

REALLY!

Originally Posted by rmatt34

SO ARE BANKS AND CREDIT UNIONS !!!

I can't even tell you how many times I've done this ... Just go in to your bank/credit union and ask them about it..

Originally Posted by rmatt34

Right !!!! now that is the definition of INSANE.. !!!

If they don't have the title , they DON'T OWN IT !

If they don't own it, YOU DON'T PAY THEM..

You pay the lein holder directly or through financing , they will get any equity ..

Kartsen, this could have gone very very bad, I would not do this again in the future...you got lucky.