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General SportbikesThis area is made for sportbikes in general. Posts that dont really belong anywhere else besides here. Questions can be answered and addressed to fully understand certain aspects. If your question is Manufacturer specific please post it there.
Lol. I was wondering what the general consensus is on preference of color scheme. The red/silver is nice but the black is just plain tits, especially in person.
I like the black better that the red and silver but I like the Euro version better that the black.
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Past machines:'02 Kawaski Drifter, '04 Yamaha FZ6, '02 Honda RC51
Current machine:'03 Honda 600RR
The wait time is because the current owner obviously financed the bike. He has to pay off the balance and then the bank/finance company has to send the paper work down to another department which then finalizes the account closure, processes the paper work, and then retrieve the title to send out to the owner. Once the owner receives the title in hand, he then can sign it over to the new owner who then can take it to the DMV to have a new title issued out reflecting the new owner as the owner of the bike.
There's no way around this process. The only way I've heard to speed it along is fi the bank is local and they happen to have the title there or can push through the processing faster being that you are dealing with a local representative and assuming the processing department is also somewhat local.
It will take less than 30 days for him to get the title. Whoever is the current title holder just says that, to cover there ass. that bike is the tits though
Forgot to add that the bank/finance company will also indicate on the title that the lien has been released which is also important as the bank/finance company is also named as a part owner of the bike.
It will take less than 30 days for him to get the title. Whoever is the current title holder just says that, to cover there ass. that bike is the tits though
Depends on the bank. It took me almost the full 30 days to get my title from HSBC when I paid off my bike. And that's with me harrassing them the last few days before I got my title. You can guarantee at least 2 weeks before you see anything as the bank is going to ensure your check/payment clears or has aged long enough to ensure the funds are there or to mitigate anything like a stop payment.
^ That's because HSBC is terrible when it comes to that. They are pretty notorious for screwing people over with loans, especially bikers, Google has told me.
The wait time is because the current owner obviously financed the bike. He has to pay off the balance and then the bank/finance company has to send the paper work down to another department which then finalizes the account closure, processes the paper work, and then retrieve the title to send out to the owner. Once the owner receives the title in hand, he then can sign it over to the new owner who then can take it to the DMV to have a new title issued out reflecting the new owner as the owner of the bike.
There's no way around this process. The only way I've heard to speed it along is fi the bank is local and they happen to have the title there or can push through the processing faster being that you are dealing with a local representative and assuming the processing department is also somewhat local.
Are you talking specifically about Jersey? Because this information comes straight from the NY DMV site:
Quote:
Q. How do I Remove a Lien from my NY Title and Get a "Clear" Title?
A. When you have paid your loan in full, the lienholder must promptly send you a proof of lien satisfaction called a "lien release." This is usually a Notice of Recorded Lien (MV-901), marked and endorsed by the lender proving payment. It might also be a letter on the lender's stationery identifying the borrower's name, the vehicle by make, year and vehicle identification number, certifying the date of full payment and release of the security interest, and signed by an officer of the lending institution. Keep this lien release. You will need to give it to a buyer, along with your title certificate, when you transfer ownership. The DMV will accept only the signed, original release.
You also may request the DMV Title Bureau to remove the lien from your New York State issued title by mailing the original lien release form or letter, the original title certificate, and a check or money order for $20 payable to the Commissioner of Motor Vehicles. Photocopies are not accepted.
If your address has changed since the title was issued, send proof of your current address (examples: a photocopy of your current registration, driver license, or utility bill). A new title certificate that does not indicate the lien will be promptly processed and mailed to you.
PLEASE NOTE: You are not required to obtain a clear title after the lien has been satisfied. Keep the original lien release, attach it to your title and give it to the vehicle purchaser when you transfer ownership.
So once the seller pays off the loan and receives the lien release (took ~6 days for the person that I was thinking of buying from), they can sign the old title over to you and hand you the lien release and let you deal with it. Although, as mentioned earlier, I've heard a lot of bad shit about HSBC, the girl I was going to purchase from had her loan from HSBC and surprisingly got the release very fast (once again, 6 days).
So once the seller pays off the loan and receives the lien release (took ~6 days for the person that I was thinking of buying from), they can sign the old title over to you and hand you the lien release and let you deal with it. Although, as mentioned earlier, I've heard a lot of bad shit about HSBC, the girl I was going to purchase from had her loan from HSBC and surprisingly got the release very fast (once again, 6 days).
There's nothing in the excerpt about transfering title ownership specifically. Maybe things are a bit different in NY. But in my state, a letter indicating the lien has been satisfied and the copy of the title the owner has will do zero in getting a new title issued under my name. I still need the other copy of the title which the lien holder has. Only when I have both copies in hand can someone transfer ownership. Hence why you would still have to wait for the lienholder to send their copy of the title to you.
^ That's because HSBC is terrible when it comes to that. They are pretty notorious for screwing people over with loans, especially bikers, Google has told me.
HSBC wasn't too bad with me except for taking forever to get the other piece of the title they had to me. I always paid electronically via their website and never got hit with any late charges or non-crediting of payments. I guess the fortunate part was I only financed my bike for just over a year. So I didn't have to deal with them for that long.
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For as dumb as you are, even you will remember this. - Lee Ving/ Fear
Ever feel you've been cheated? - Johnny Rotten
I go Beltway blitzin' on my mad mofo musclebike WFO. Its a true choice, a god-like experience if you will. The thought that I could buy the farm in a spectacular fireball...................well, that gives me a stiffie! Tesco Vee/The Meatmen
Those procedures are fucked-up. In WI, the title is in your name, in your possession, with the lienholder's name on the front. You sign your title, give it and the letter from the lienholder showing it as cleared to the buyer and you're done. The only thing that may slow you down is if the bank won't immediately get you a lien release.
__________________
For as dumb as you are, even you will remember this. - Lee Ving/ Fear
Ever feel you've been cheated? - Johnny Rotten
I go Beltway blitzin' on my mad mofo musclebike WFO. Its a true choice, a god-like experience if you will. The thought that I could buy the farm in a spectacular fireball...................well, that gives me a stiffie! Tesco Vee/The Meatmen
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