Bought a bike with a lien, did the transaction with the guy and traded bills of sale. This was almost two weeks ago, took the bike home but havent received the title in the mail yet....
Did I just get screwed? Has anyone else done this? How long till I can expect to see the title (if ever!)? Has anyone been the victim in this sorta situation before? If it never shows up do I have any recourse? SMH!

Thanks guys!

p.s., I know, I know.... Stupid!

 

I don't have your answer, but just curious, you payed him in full and left it up to him to pay off the lien holder? I don't know what legal coarse you have, but until they are payed in full, they won't release the title. If the above is true, he ultimately sold you something he didn't own. Have you contacted the lien holder or seller?

 

This isn't going to end well ......................

 

Tried to call the seller, never found out who the lien holder was... Never did any research. The VIN is solid, not hot. Beyond that I dunno. Paid the seller in full in confidence that the bill of sale was all I needed to back my claims of ownership, now I'm worried...

Rookie maneuver, I know! I'm kicking myself. I been living under a rock (or on one) for a long time. Forgot how **** goes down over here.

 

Get a lawyer now! I got into a swindle with a crooked auction company and it took a lawyer to get me outta trouble.

 

You're screwed.

 

Your payment needs to clear and be credited to his account, payment must be sent and clear at the lien holder, then the title must be sent out and received and forwarded to you. Two weeks isn't that long - there is still hope.

 

In NY you hold the title even if it has a bank lien on it, it is perfectly legal to sell a bike with a lien on the title the title is signed over to the new buyer and the seller pays off the loan and gets a letter from the bank releasing the lien. When I lived in Hawaii 20 years ago I remember holding titles on the bikes I owned so I would think the same rules apply. Personally I would give the guy a call and ask him for the release letter from the bank. By the way I sure do miss living in Maui.

 

Pay the seller a visit. Get the details you need before you waste money on a lawyer if you don't need to. Sometimes, these things do take time to work through the system.

Also, the title will be sent to the seller, not you. He will need to transfer it. Make sure you have that bill of sale in a safe place, in case he tries coming at you saying you stole the bike. After all, he has the proof of ownership.

Lastly, it's a lesson learned. Next go around, handle all this through your bank. Even if you have the cash to pay in full, your bank can handle all the transferring and keep you covered. Worst case, get a loan and pay it off in 2 months.

Good luck, keep us posted.

 

Well, thanks for the positives guys! I know how bad this can go, it's just nice to know that there's the slightest hope.