Go Back   Cyclechaos - Motorcycle Forums > General Category > Motorcycle Financing

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 01-17-2009
Junior Member
 
Join Date: Dec 2008
Posts: 14
Default Who has the title if it was financed through a bank?

Hey there~This may sounds dumb, but I'm new to this kind of stuff, so help me out.I live in Illinois, and I got a new motorcycle a few months ago, with a loan from a bank, went through all the usual things, such as getting the registration, and paying my monthly installments until now, etc. I have no problem about that.So currently, the vehicle has lien on the title, it would seem, and because this is the first time that I had bought a vehicle with financing, I have no idea who gets to hold the actual title, I mean the document.Since I haven't seen the title until now, I have assumed the bank has the hold of it and is keeping the document somewhere in the bank, right? Is this a common thing by the way?Or should I see the document too? I mean in terms of a duplicate or a some other sort?Thank you.
Reply With Quote
  #2 (permalink)  
Old 01-27-2009
Junior Member
 
Join Date: Dec 2008
Posts: 14
Default

Yes, who ever you have the loan thru has the title.
Reply With Quote
  #3 (permalink)  
Old 02-15-2009
Junior Member
 
Join Date: Nov 2008
Posts: 9
Default

Yes, the bank who the loan is through gets the title. On the bottom of the title is says Lein held by, and the name of the bank. You dont get the title until the loan is paid in full. Until then they hold it as collateral for the loan.
Reply With Quote
Reply

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads for: Who has the title if it was financed through a bank?
Thread Thread Starter Forum Replies Last Post
how do you receive a copy of a title for a kawasaki kx80 dirt bike? Paul H KX 2 01-19-2009 12:40 PM
Is getting financed by Honda and Yamaha easier than getting financed for a Harley? oysterchowder2004 Harley Davidson 3 12-06-2008 05:02 PM
selling motorcycle when finance company still has title? Aaron S Motorcycle Financing 1 12-04-2008 10:27 PM
title question Alex H Motorcycle Discussion 9 02-27-2007 03:19 AM
Title Help Party B Motorcycle Discussion 7 06-06-2006 12:23 PM


All times are GMT -5. The time now is 09:31 PM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.0