here is my problem.I have a spyder I bought last year,i make payments,so it has a lean.The problem is I dont have a title because it has never been transfered to my and or banks name because my dealer lost his license.I cant get a plate for it.He says he is waiting for his license.What if he is going under or?if it gets stolen or I die who gets what because nobody ownes it.All i know for shure is if i loose my job tomorrow I cant sell it,its not mine.Has anybody got in this mess??????
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need some spyder help
- Thread starter hondaman
- Start date
yea they want the title,they say its my fault because they gave the money on good faith.
Lowflyingowl
Member
contact your state DMV folks. I have a similar issue out here in CA and there is always a way to get a title....
NancysToy
Motorbike Professor
And so did you. It is certainly not your fault you were defrauded. A smart lender would listen to what you had to say, and offer to help. In the case that they are merely greedy, and not so bright, I would also think the state would be willing to get involved. Unfortunately, that would probably mean the police, and serious trouble for the dealer. If he knows he is facing fraud charges, perhaps he will make ammends. I'll keep my fingers crossed for you.
-Scotty
Those mofos never do anything on good faith. Tis the reason we are in this mess today. Tell the bank to get off their butt and go do some work for you.
Dudley
New member
From my experience, the dealer gets the MSO (Manufacturor's Statement of Origin) which is the document necessary to get the bike registered through the state. If you have not received your plates yet, the dealer never turned in the papers to get you properly registered. Which means he has kept whatever money he had left over (which is the check he got from the bank in the amount of the final figure on your bill of sale, ie., "Drive Out Price) after paying off the Spyder (to buy it from BRP). That money was the amount left over to register your Spyder. The dealer needs to be approached right away. The quicker you deal with this, the better off you will be. Don't let him give you a line of bull. If he lost his license, he needs to give you the money and the papers so you can register your Spyder. He kept the money. My wife also has worked for a finance company and agrees.
Dudley
New member
They are correct. You are riding a vehicle which they paid with money you borrowed. You are responsible if the paperwork has not been received by the bank (not the bank). Different DMV offices have their own requirements. Some require the bank to send them the paperwork and others require the dealer, while others will work with a private title company to file the papers. Either way, until the bank has been satisfied, you are the untimate one responsible. That's why I posted previously that you should not hesitate to go get the dealer to do what he has to do. If he refuses, you may need to speak to an attorney. Whatever you do, do it like yesterday (immediately!)! The bank has the legal right to reclaim your Spyder until all the required legal steps have been met.
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NancysToy
Motorbike Professor
Glad you got everything worked out. We were all worried. Enjoy the Ryde!
-Scotty
bone crusher
Alignment Specialist
Good job...what a mess! Enjoy it and don't miss those payments!
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