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Old 02-18-2009, 10:05 PM   #1
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Exclamation Bonded title help

So I went to check out an SV tonight. Bike looks/sounds great BUT I noticed the title is bonded and still in the "1st owner's" name. The person selling the bike is under the impression they are the 2nd owner. Doesn't a bonded title mean that whoever got the bonded title was at least the 2nd owner? Well I guess the bigger question is does a bonded title present a big enough problem to walk away? Right now the only red flag I can see is the title.
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Old 02-18-2009, 10:08 PM   #2
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walk away from it for sure.. My car is in the process of getting a bonded title and it is a headache so im letting him keep my deposit and getting a mechanical lein instead... Walk away how good of a deal is it?
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Old 02-18-2009, 10:16 PM   #3
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$1200 under avg retail value
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Old 02-18-2009, 10:22 PM   #4
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give me some more info.. if its not a steal then dont bother that or go back and lowball him... Ok a bonded title means this.. somebody messed up the title by putting signatures in the wrong place defacing it so on so on.. just messed up the title.. so what they do is get a bondsman to hold the title and say you will pay the amount if you are not the owner and so on.. I think its a big run around pain in the a$$.. I would rather have a salvage title to mess with then a bonded title honestly.. pm me the price and year I have a connection on bikes in austin I can have him look around for you
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Old 02-18-2009, 10:38 PM   #5
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From the asking prices vs NADA prices of 90% of the SV's I've seen it's a steal. The seller already said that they are not willing to drop the price, just looking to recoup what they paid on an impulse buy less than 6 mo ago. Oh yeah, they also said reg is good thru Sept 09 if that helps at all
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Old 02-18-2009, 10:45 PM   #6
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Bonded titles honestly aren't a big deal, I've gone through the process a couple times for various reasons. You can still sell the bike as if it has a clean title. If you want to talk specifics, PM me ur cell and name.
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Old 02-18-2009, 10:45 PM   #7
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If it's legit, get it. Bonded only means that the insurance company will pay you for the value of the vehicle if there is someone comes up to claim their vehicle within two years. That if you are the person doing the bonded title. If you are buying from one that is bonded, then it's just like the original title. The insurance or bond company has already run the vin to check and make sure that there is no lien or stolen, they are there to make money not paying it.
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Old 02-18-2009, 10:47 PM   #8
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I guess the real question is what are my risks? Can someone pop up and say "Hey! That's my bike! Give it!" or does this just mean I have to jump thru a few extra hoops w/the DMV?


edit: level5
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Old 02-18-2009, 10:49 PM   #9
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majority of peeps have no idea about the bonded title process and scared, that's why bonded title/sales have a hard time selling that leads to lower prices. Also, original buyer take a risk of buying a bike that they might not be able to get title to. If it's been done, you're good to go.
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Old 02-18-2009, 11:03 PM   #10
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Cool...sounds like I'm good, but just talked to dvlracer and I need to check to see if I can get a incomplete BoS or the seller can get in touch w/the original owner b/c the title is signed but not xfered to the current owner....
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Old 02-18-2009, 11:04 PM   #11
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I have a 1999 650 S frame, clean title, if you think it might help. $400
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Old 02-18-2009, 11:08 PM   #12
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thanx shadman but it's a 2nd gen
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Old 02-19-2009, 07:56 AM   #13
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FWIW: I wouldn't hesitate on a bonded title. Just finished one yesterday on
a old russian sidecar. I paid $2500, it's worth +/- $4000, the bond is for
$5500. If I or someone I sell it to in the next 3 years has it taken away for
being stolen the bond is paid. You'd actually make money other then the
pita factor.

The insurance company vetted the title and feel the bike isn't stolen or
they wouldn't have issued a bond.

I would make the guy go down to the tax office and transfer it there in
person.
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Old 02-19-2009, 09:04 AM   #14
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Thanx. The bonded title issue doesn't worry me so much anymore, but the problem w/the current owner not registering may be a problem if they don't have a BoS signed by the owner on the title waiting to be completed by me
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Old 02-19-2009, 09:53 AM   #15
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there are ways around that no signature problem
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Old 02-19-2009, 10:13 AM   #16
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I just talked to the seller and they are "friends" w/the person who go the bonded title so a BoS to me from the original seller might not be a problem. But looks like there was a typo on the year of the bike in the CL add....that means that instead of the asking price being way below avg retail it's now right @ avg retail. So I'm wondering if I should wait for a great deal or just go w/this good deal.
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Old 02-19-2009, 12:13 PM   #17
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Quote:
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I just talked to the seller and they are "friends" w/the person who go the bonded title so a BoS to me from the original seller might not be a problem. But looks like there was a typo on the year of the bike in the CL add....that means that instead of the asking price being way below avg retail it's now right @ avg retail. So I'm wondering if I should wait for a great deal or just go w/this good deal.
sit and wait for another $4000 rc51
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Old 02-19-2009, 01:05 PM   #18
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Quote:
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sit and wait for another $4000 rc51
yeah maybe I should, then the guy can ignore me again after I ask informed questions
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Old 02-19-2009, 05:34 PM   #19
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Quote:
Originally Posted by JP171 View Post
there are ways around that no signature problem
Elaborate
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Old 02-19-2009, 05:34 PM   #20
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Elaborate
NOT ON A PUBLIC BBS....
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