stuck in a dilema need help

1mean4.SIK · 01-18-2008, 07:35 PM

ok so im about to buy this bike its in another city not insainly far from here but its a pretty good drive. anyways here is the dilema. I have the money to buy the bike but the guy hasnt paid off his bank yet so he needs my money to pay the bank off and he said i can pick it up tomorrow or sunday and when he receives the title he will mail it to me. he sounds pretty legit i mean he gave me the number to the bank and a person there to talk to and told me that mr. so and so is a pretty honest man as soon as he pays off the bike i will release the title to him. anyways im afraid if i give him the money and i drive off he wont pay the bank and i end up with the shaft and without a title to a bike. if that happens what can i do really nothing right? need some input thanks!

VIC · 01-18-2008, 07:41 PM

I don't know.........some of these scam artists are pretty slick. Not saying he is one........but, better to be safe than sorry. I would go up there when the bank was open and go to him to the bank, see the title, pay him, and have him sign the title transfer.

At least call the contact at the bank to see if they have the title. If Mr so and so is a bank employee he better be honest.....and not just pretty honest!!

TRM8ER · 01-18-2008, 07:45 PM

Why don't you go to the bank with the owner and pay for it there. That way you know it gets payed off and you can give the bank your address to send the title to.

1mean4.SIK · 01-18-2008, 07:45 PM

yeah i called the bank and they said that they will have the title there on tuesday. this guy that im buying the bike from said thats fine not a problem that i can go with him tuesday and do that process but i guess yeah i should be safe than sorry. whats the process im new to buying a bike when he gets the title right then and there i should have him sign it and the bottom of it or is there a certain place? and also do i have to write something saying im buying the bike blah blah blah and sign it? im new to this

1mean4.SIK · 01-18-2008, 07:46 PM

the bank said that they will release the title to him and not me since he is the current owner. i dont know im kinda confused but trying to get through this im kinda anctious and i want to pick up the bike tomorrow and have him mail it to me but thats the stuborn part of me i just need to wait till tuesday so that i can see that the bike is paid off.

VIC · 01-18-2008, 07:53 PM

Quote:

Originally Posted by 1mean4.SIK

i dont know im kinda confused but trying to get through this

When he pays it off the bank will sign a release and give him the title. He will then sign the title as the seller and give it to you. Then you have to take the title to the Bexar County Tax Office here in SA to pay the sales tax and transfer the title to your name. The Tax Office will mail you the new title which is now in your name.

4.6stanger · 01-18-2008, 07:55 PM

Damn thats pretty tuff!! Does he have alot to pay it off? WHy not just wait if he doesnt owe much?

timpryor · 01-18-2008, 07:56 PM

go to his bank and get the title from them

1mean4.SIK · 01-18-2008, 07:56 PM

oh ok gotcha so basically when he receives the title he will have to write (seller: and sign his name after that) so i have to write buyer and sign my name and have a witness present and sign or just have him sign and date and thats it? i heard not to have him date it if i plan on getting the title in my name later and not now.

1mean4.SIK · 01-18-2008, 07:57 PM

dont know how much he owes but im giving him $4,000 and this is a pretty new sweet bike. so he said he will pay off the bike with that and he will mail me the title but i think im just gonna wait till tuesday

1mean4.SIK · 01-18-2008, 07:58 PM

this is what the bike looks like has scratches on one side of the fairing with 15K miles on the bike has brand new tire is this a good deal for $4K???

http://www.tapeworks.com/SUZUKI%20Im...R600yellow.JPG

VIC · 01-18-2008, 08:07 PM

Get a signed bill of sale and a receipt for your money from the seller, with a full discription and VIN number. Can just be a plain sheet of paper or maybe the bank has some printed ones. Will need it for paying the sales tax.

There is a space on the title for the seller to sign. I don't believe the buyer signs the old title.

To transfer a title in Texas, the vehicle must be insured. If the title is being transferred within 30 days of a normal sale, the previous insurance will be sufficient. After 30 days, a new insurance policy must be purchased prior to the official transfer of title.

I think the title transfer fee is $28. Sales tax is 6.25% of the purchase price.

timpryor · 01-18-2008, 08:33 PM

tax is actually a percentage of the "estimated value" of the vehichle not the price you paid for it

thatdavidkid · 01-18-2008, 09:07 PM

yep... there is also a form that you can get that says "you now own the bike and loan etc etc and you will pay off the bike and retrieve the title from the bank" that way they can release it to you.. but i dont know fo r sure where you get the form or anything

1mean4.SIK · 01-18-2008, 09:48 PM

oh no ill be paying off the bike and the bike is mine after i pay him the 4K

JENA · 01-19-2008, 12:39 AM

What typically happens, is that you pay the guy, and he should give you a "Bill of Sale" which states that he sold the bike to you for X amount of dollars, as is, blah, blah, blah... once you have paid him and got that document, the bike is yours to take at that moment (he already has your money - no need for him to hold the bike to wait for the title). He then should take the money you gave him, go to the bank pay off his loan and when he receives the title sign it and send it to you.

p.s. Bill of Sale documents are usually just typed out, you can google it and probably find one someone has already put together, if you felt more comfortable take it with you when you go to pay the guy and both of you sign it at a bank together in front of a notary to have it notarized.

(edit) p.s.s. I noticed this might be a bit of a duplicate of what VIC said earlier.

REDHOT86 · 01-19-2008, 12:57 AM

Like others have said...

1.Go with him to the bank to get it paid off... don't give him the money, YOU PAY THE BANK YOURSELF.
2.GET A BILL OF SALE
make sure it includes... vin #, year, make, model, license plate #, his name, address and contact #, your name and contact #, both signatures, date and amount paid.

Good luck man. -JM

1mean4.SIK · 01-19-2008, 09:42 AM

thanks for the input guys!!!!

mustangmelish · 01-20-2008, 01:25 PM

good luck gettin it!

1mean4.SIK · 01-20-2008, 06:24 PM

thanks but i think i caught my eye on different bike here in san antonio only thing that sucks is it is a blue theft recovery title rebuilt

01-18-2008, 07:35 PM	#1
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	stuck in a dilema need help ok so im about to buy this bike its in another city not insainly far from here but its a pretty good drive. anyways here is the dilema. I have the money to buy the bike but the guy hasnt paid off his bank yet so he needs my money to pay the bank off and he said i can pick it up tomorrow or sunday and when he receives the title he will mail it to me. he sounds pretty legit i mean he gave me the number to the bank and a person there to talk to and told me that mr. so and so is a pretty honest man as soon as he pays off the bike i will release the title to him. anyways im afraid if i give him the money and i drive off he wont pay the bank and i end up with the shaft and without a title to a bike. if that happens what can i do really nothing right? need some input thanks! __________________ I usually stop when she sais she can't breath.....

01-18-2008, 07:41 PM	#2
VIC The "Senior" Member Join Date: Jun 2003 Location: Home of the '99, '03, '05, & '07 NBA Champion Spurs Posts: 2,019 Trader Rating: (0)	I don't know.........some of these scam artists are pretty slick. Not saying he is one........but, better to be safe than sorry. I would go up there when the bank was open and go to him to the bank, see the title, pay him, and have him sign the title transfer. At least call the contact at the bank to see if they have the title. If Mr so and so is a bank employee he better be honest.....and not just pretty honest!! Last edited by VIC; 01-18-2008 at 07:47 PM.

01-18-2008, 07:45 PM	#4
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	yeah i called the bank and they said that they will have the title there on tuesday. this guy that im buying the bike from said thats fine not a problem that i can go with him tuesday and do that process but i guess yeah i should be safe than sorry. whats the process im new to buying a bike when he gets the title right then and there i should have him sign it and the bottom of it or is there a certain place? and also do i have to write something saying im buying the bike blah blah blah and sign it? im new to this __________________ I usually stop when she sais she can't breath.....

01-18-2008, 07:46 PM	#5
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	the bank said that they will release the title to him and not me since he is the current owner. i dont know im kinda confused but trying to get through this im kinda anctious and i want to pick up the bike tomorrow and have him mail it to me but thats the stuborn part of me i just need to wait till tuesday so that i can see that the bike is paid off. __________________ I usually stop when she sais she can't breath.....

01-18-2008, 07:55 PM	#7
4.6stanger Three-hundredths of a second away from it!!!! Join Date: Apr 2007 Location: Lufkin, Texas Posts: 2,740 Trader Rating: (2)	Damn thats pretty tuff!! Does he have alot to pay it off? WHy not just wait if he doesnt owe much? __________________ What will it be, Breakin 12's or Breakin drivetrain.

01-18-2008, 07:45 PM	#3
TRM8ER Killing all the newbs with the IW!!! Join Date: May 2005 Location: san antonio Posts: 730 Trader Rating: (4)	Why don't you go to the bank with the owner and pay for it there. That way you know it gets payed off and you can give the bank your address to send the title to.

01-18-2008, 07:56 PM	#8
timpryor Giving up Join Date: Feb 2004 Posts: 8,207 Trader Rating: (6)	go to his bank and get the title from them

01-18-2008, 07:57 PM	#10
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	dont know how much he owes but im giving him $4,000 and this is a pretty new sweet bike. so he said he will pay off the bike with that and he will mail me the title but i think im just gonna wait till tuesday __________________ I usually stop when she sais she can't breath.....

01-18-2008, 07:58 PM	#11
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	this is what the bike looks like has scratches on one side of the fairing with 15K miles on the bike has brand new tire is this a good deal for $4K??? http://www.tapeworks.com/SUZUKI%20Im...R600yellow.JPG __________________ I usually stop when she sais she can't breath.....

01-18-2008, 08:07 PM	#12
VIC The "Senior" Member Join Date: Jun 2003 Location: Home of the '99, '03, '05, & '07 NBA Champion Spurs Posts: 2,019 Trader Rating: (0)	Get a signed bill of sale and a receipt for your money from the seller, with a full discription and VIN number. Can just be a plain sheet of paper or maybe the bank has some printed ones. Will need it for paying the sales tax. There is a space on the title for the seller to sign. I don't believe the buyer signs the old title. To transfer a title in Texas, the vehicle must be insured. If the title is being transferred within 30 days of a normal sale, the previous insurance will be sufficient. After 30 days, a new insurance policy must be purchased prior to the official transfer of title. I think the title transfer fee is $28. Sales tax is 6.25% of the purchase price. Last edited by VIC; 01-18-2008 at 08:12 PM.

01-18-2008, 08:33 PM	#13
timpryor Giving up Join Date: Feb 2004 Posts: 8,207 Trader Rating: (6)	tax is actually a percentage of the "estimated value" of the vehichle not the price you paid for it

01-18-2008, 09:07 PM	#14
thatdavidkid looks mean, workin' on the fast Join Date: Oct 2006 Location: Denton Posts: 3,902 Trader Rating: (1)	yep... there is also a form that you can get that says "you now own the bike and loan etc etc and you will pay off the bike and retrieve the title from the bank" that way they can release it to you.. but i dont know fo r sure where you get the form or anything __________________ 1991 lx coupe t-5 swap, billit quadrant, upr firewall adjuster, steeda tri-ax, custom jb tool and fab one off subframe connectors, 8.8 w/posi and 4.10's with 5 lug axles, tubular upper control arms, southside lowers, and pbr twin piston front calipers with "snowflake" wheels

01-18-2008, 09:48 PM	#15
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	oh no ill be paying off the bike and the bike is mine after i pay him the 4K __________________ I usually stop when she sais she can't breath.....

01-19-2008, 12:39 AM	#16
JENA Happy Halloween! Join Date: Feb 2007 Location: NE San Antonio Posts: 2,786 Trader Rating: (0)	What typically happens, is that you pay the guy, and he should give you a "Bill of Sale" which states that he sold the bike to you for X amount of dollars, as is, blah, blah, blah... once you have paid him and got that document, the bike is yours to take at that moment (he already has your money - no need for him to hold the bike to wait for the title). He then should take the money you gave him, go to the bank pay off his loan and when he receives the title sign it and send it to you. p.s. Bill of Sale documents are usually just typed out, you can google it and probably find one someone has already put together, if you felt more comfortable take it with you when you go to pay the guy and both of you sign it at a bank together in front of a notary to have it notarized. (edit) p.s.s. I noticed this might be a bit of a duplicate of what VIC said earlier. __________________ Mrs. 96greengt Last edited by JENA; 01-19-2008 at 12:44 AM.

01-19-2008, 09:42 AM	#18
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	thanks for the input guys!!!! __________________ I usually stop when she sais she can't breath.....

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01-20-2008, 06:24 PM	#20
1mean4.SIK Registered User Join Date: Jan 2005 Location: SAN ANTONIO, TEXAS Posts: 930 Trader Rating: (0)	thanks but i think i caught my eye on different bike here in san antonio only thing that sucks is it is a blue theft recovery title rebuilt __________________ I usually stop when she sais she can't breath.....