FS: 05 Yamaha R1 Track Bike

[TopGun]

For Sale:

2005 Yamaha R1 Track bike ***NO TITLE**** BILL OF SALE ONLY
5k miles
2 track days on it only.
520 Chain conversion
Vortex Sprockets
Steel Braided brake lines


$3000.00 Firm

 

[VaRacer]

where are you located

 

[TopGun]

jacksonville, florida

 

[racer034life]

man if you where closer I would so buy this. Bump for a great deal

 

[TopGun]

thank you sir

 

[Faztbikez]

Does it have a lien thats y no title im really interested. is there a vin on the bike?

Thanx

 

[TopGun]

Yes it has Lien against it, yes it does have a vin.

 

[racer034life]

Check your inbox.....I may have a offer

 

[Italiantwin04]

I am confused. Is there no title for the bike or is there a title with a lien against it?

 

[TopGun]

There is a title with lien against it, I am selling it with bill of sale only.

 

[dtprb]

Is that legal?

 

[TopGun]

Yes it is.

 

[Italiantwin04]

It is technically legal in most states but the problem would arise if the person who took out the loan stopped paying. The bank could then come repo the bike from whomever has it in their possession.

 

[jdwilliamson33]

yes
if they could find it lol

 

[Lenny ZX9R]

Italiantwin04;242307 wrote: It is technically legal in most states but the problem would arise if the person who took out the loan stopped paying. The bank could then come repo the bike from whomever has it in their possession.

If you buy a vehicle with a lien on it, the TITLE of the bike will have the leinholders name on it. The bike has a VIN number so this number would go through your states DMV and they would run a check to see if the bike is stolen/repo and or salvage. The only way that you could call the bike your own and legally posses it is if the lein is paid off and you, the buyer, have the letter of Loan Satisfaction from the leinholder. You would get this from the seller and go to your states DMV. Then you would need a bill of sale as proof of ownership along with the old TITLE. After that the state will issue you, the new owner a CLEAN TITLE with your name on it MINUS the leinholder. Don't as me how I know this but I used to do this stuff alot! LOL!

 

[racer034life]

if i was closer I would take this off your hands with out a problem....

 

[TopGun]

racer034life;244714 wrote: if i was closer I would take this off your hands with out a problem....

where are you? i can help with delivery

 

[racer034life]

you have a PM!

 

[Faztbikez]

Lenny ZX9R;242311 wrote: If you buy a vehicle with a lien on it, the TITLE of the bike will have the leinholders name on it. The bike has a VIN number so this number would go through your states DMV and they would run a check to see if the bike is stolen/repo and or salvage. The only way that you could call the bike your own and legally posses it is if the lein is paid off and you, the buyer, have the letter of Loan Satisfaction from the leinholder. You would get this from the seller and go to your states DMV. Then you would need a bill of sale as proof of ownership along with the old TITLE. After that the state will issue you, the new owner a CLEAN TITLE with your name on it MINUS the leinholder. Don't as me how I know this but I used to do this stuff alot! LOL!

I would find hard for repo to go get it, even if its registered i have a friend or few of them that afer this economy the banks gave up on them, they might be on the system but can you imagen a repo going 1 by 1 of the bikes checking vin numbers, another friend did bankrupsy and the bank told him to keep his duck! He will never have atitle but he does have the bike registered evry year an on the other side y would you turn a nice race bike like this into a street bike, HEY I COULD BE WRONG IS JUST MY 2

 

[bkrivisky]

How much is the lien? If you (seller) don't pay it off and buyer doesn't how is this different from a stolen bike?