@2007 - That's ridiculous for them to charge like that...Before I bought my bike, I was about to purchase an EGC outside of Atlanta..it was financed and the local HD was going to help with the paperwork and tag for free..You may want to check other dealerships in your area or here in Durham/Raleigh...Sounds like your dealership is definitely a stealership....

 

Yeh, I'm looking elsewhere. I imagine if I were going to turn around and buy a bike from them, they might waive some of the fees. But I'm not ready to do that. However, you'd think they'd have that possibility in mind and not turn me away with fees that extreme. I know that the same guy recently told a buddy of mine that they aren't doing consignment sales anymore because it was "robbing them" of their own bike sales.

My problem is, the guy that wants my bike wants to take it home with him when he pays me, even if he has to wait for the title before he can register it. I'm just not comfortable with that but I also understand he may not be comfortable with handing me a check and not getting anything in return for it for 2 weeks either.

 

Why aren't you comfortable with that? You got paid, he go the merchandise, now he's just waiting on the paperwork. You send in the payment and your bike is paid off. You really have no risk in that situation -- he's the one taking the risk.

PS -- sorry to hear you're getting rid of the bike

 

No risk? It's still titled in my name and covered under my insurance. Seems to me, legally, as far as the insurace company is concerned if something happens, I'm still responsible.

 

Just write up a bill of sale for the buyer and let him ride on your tag. Make sure he provides his own insurance, though. It is just the same as letting someone borrow your bike for a few weeks. It is perfectly legal, and I have done this before.

 

you can get a pay-off from EagleMark good for 10 days, then send them the pay-off amount. in Texas, once the title application has been done (at the DMV or a title service), the bike will be in the buyer's name. you no longer have any legal ties to it. it's up to the buyer to provide (or not provide) insurance as he/she sees fit. the risk is with your buyer - he has to trust you'll pay off the bike and not run with all the money. one way would be for him to cut a certified check for the pay-off amount and send direct to EagleMark, then cut a certified check for the difference to you.

 

You can turn in your tag and have your insurance cancelled on the day he takes the bike. He can put insurance on it, without titling it first. Then the tag issue will be up to him. No dangers to you, no worries.

 

Bought my bike in June from a guy in the same situation. Harley said 10-14 days, and it took EVERY BIT of it!!!!

I had to have the following:
Notorized bill of sale
Current registration card
Sellers insurance card (he elected to continue coverage till I received title *smart*)
Conformation letter of lein release

Took about three weeks for him to receive the title and mail it to me. The next day I registered in my name and sent his tag and reg./insurance back to him.

If done this way...make POSITIVE his signature is notorized on the title!!!!! Ask me how I know!?!?!

The bike wasn't financed, so we had a "gentlmans agreement."

I had his word the title was good...he had my word that the bike wouldn't be involved in any banks heists used as the "get away" vehicle!!

Good luck, but it does take a while.

Beav

 

If you have Eagle Mark listed as a Loss Payee on your insurance policy, then yes you'd have to keep it insured until you get a release from Eagle Mark. At least most insurance companies would require a release from the Loss Payee prior to canceling insurance. You're may not.

As suggested above, the buyer can obtain proof of insurance from their agent. Provided the Loss Payee is a non-issue and you cancel insurance, with a dated bill of sale, dated proof of insurance, and documented submission of paperwork to Eagle Mark (sent Certified Mail) you should not be liable.

 

In NC you have to have at least minimal insurance to get a tag. I'm not sure what the rules are about the titled name as it relates to insurance, but if he can get the insurance before the title, I'll feel better. However, he wants me to meet him half way between where we live to do the deal and then ride it home on my tag and mail it back to me. I've done some background checking on him and he seems like a reputable guy and says he has owned and ridden bikes since 1974 but has never owned a Harley.