B
BLUEGTC
Guest
Hello,
I need some input... I've purchased a 1996 K1100LT with 26,000 miles from a dealer for $2600. The bike was bought from a salvage auction by the dealer and he said it was a simple process for him to bond the bike and get a salvage title. The bike is very clean and the only damage was the front tire rim was bent, the left mirror was missing and there were some scratches on the left side of the fairing($250 to repaint)...
I just received a call from the dealer and he said that he was unable to get a bonded title and that the DMV(North Carolina) said that he would have to go to the salvage yard(in Virginia) and have them apply for the title. He seems to think that the salvage yard won't go through the hassle of applying for the title(since they sold it without the title)....(it was a "totaled" bike which I believe the salvage yard bought from Allstate Insurance and the bike was originally titled in NY.)
I contacted International Title Service in Nevada and they only deal with bikes up to 1994 but said they are working on a new system that they hope to have in place in two to three weeks that will allow any age bike to be titled.
The dealer has already said he will refund my payment, so I'm not stuck with anything, but to be honest it's a well-maintained bike at a great price.... and I might be able to get it for an even greater price...
Now here are my thoughts...
1.Most important is to be sure that the bike is lien free and not stolen so that it DID have a clear title before the accident....
2. Talk to the dealer and tell him I'll take the bike for less $1500(or less?) without a title and I will work on getting the title(through the title company in Nevada, the salvage yard or maybe even the insurance company(or the original owner?- I'm wondering if neither Allstate nor the salvage yard bothered to re-title the bike which is why NC is not allowing my dealer to get a title- so the title is still sitting in the original owners name in NY?)...
3. When I called the NCDMV they said the problem was that the dealer told them where he got the bike from so they told him that he had to go back to salvage company and have them get the title and then transfer it. I'm wondering if I can just take the bike and register it in another state(NC now has a file on it) and say I bought it from an individual and he didn't have a title..... then they can do a check on it to see if it is stolen or has a lien.....(which it shouldn't have if I check it out first)... if it's clear then I apply for the title.
So... I'm thinking..... get the bike for less.... try to get the title through the methods outlined above or any other ideas you all may have.... and if I succeed I will have a wonderful bike for $1500-2000.... If I fail and there is no way to get the title then I just part the bike out and I should be able to recoup my investment plus more since it is a virtually perfect bike(the only thing that doesn't work is the radio!)...
Your thoughts? Ideas? Know of a good approach to get a title?
thanks,
David
I need some input... I've purchased a 1996 K1100LT with 26,000 miles from a dealer for $2600. The bike was bought from a salvage auction by the dealer and he said it was a simple process for him to bond the bike and get a salvage title. The bike is very clean and the only damage was the front tire rim was bent, the left mirror was missing and there were some scratches on the left side of the fairing($250 to repaint)...
I just received a call from the dealer and he said that he was unable to get a bonded title and that the DMV(North Carolina) said that he would have to go to the salvage yard(in Virginia) and have them apply for the title. He seems to think that the salvage yard won't go through the hassle of applying for the title(since they sold it without the title)....(it was a "totaled" bike which I believe the salvage yard bought from Allstate Insurance and the bike was originally titled in NY.)
I contacted International Title Service in Nevada and they only deal with bikes up to 1994 but said they are working on a new system that they hope to have in place in two to three weeks that will allow any age bike to be titled.
The dealer has already said he will refund my payment, so I'm not stuck with anything, but to be honest it's a well-maintained bike at a great price.... and I might be able to get it for an even greater price...
Now here are my thoughts...
1.Most important is to be sure that the bike is lien free and not stolen so that it DID have a clear title before the accident....
2. Talk to the dealer and tell him I'll take the bike for less $1500(or less?) without a title and I will work on getting the title(through the title company in Nevada, the salvage yard or maybe even the insurance company(or the original owner?- I'm wondering if neither Allstate nor the salvage yard bothered to re-title the bike which is why NC is not allowing my dealer to get a title- so the title is still sitting in the original owners name in NY?)...
3. When I called the NCDMV they said the problem was that the dealer told them where he got the bike from so they told him that he had to go back to salvage company and have them get the title and then transfer it. I'm wondering if I can just take the bike and register it in another state(NC now has a file on it) and say I bought it from an individual and he didn't have a title..... then they can do a check on it to see if it is stolen or has a lien.....(which it shouldn't have if I check it out first)... if it's clear then I apply for the title.
So... I'm thinking..... get the bike for less.... try to get the title through the methods outlined above or any other ideas you all may have.... and if I succeed I will have a wonderful bike for $1500-2000.... If I fail and there is no way to get the title then I just part the bike out and I should be able to recoup my investment plus more since it is a virtually perfect bike(the only thing that doesn't work is the radio!)...
Your thoughts? Ideas? Know of a good approach to get a title?
thanks,
David