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What can they do if you strip a motorcycle before it is repossessed?
Wiki User
∙ 19y ago
Strip??? as in no motor or tranny?? no wheels? Well, there are laws against doing so. Some states its a felony. BUT, the bottom line is MONEY. You cant sell the parts for what it cost you when the lender sues you for the deficiency balance. Good Luck you could be in serious legal trouble if you do that. however...were you to do that the individual parts would probably wind up getting you more money in the long run (if you dont get caught). the individual parts are worth more than the whole thing...just ask your local chop shop.
Wiki User
∙ 19y ago
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Can a motorcycle be repossessed if you cant afford the payments?
Of course.
If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
Can a motorcycle purchased on credit card be repossessed?
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
What happens if they can't find the motorcycle to be repossessed?
Edit: They should replace it. Original: you win.
Can your motorcycle be repossessed if it has a lock and chain on it?
Certainly. This happens quite often. Repossession agents have the means to pick the motorcycle up and place it safely on a flatbed.
If you break up with your boyfriend can you have his motorcycle repossessed if your name is one the title?
Is his name on the title also?
What happens to a person if they hide motorcycle that is being repossessed?
Nothing will happen to a person if they hid a motorcycle that is being repossessed. Eventually, the company that is trying to repossess will either give up or find you. They will use all tools at their disposal depending how much is owed at the time.
If someone has a motorcycle in their name but someone has the property and is behind on payments can the motorcycle be voluntary repossessed by the main name even though someone else has the property?
Yes it can.
If you buy a motorcycle that has a lien on it from the Royal Bank of Canada through the previous owner can the bike be repossessed from you?
yes,
Motorcycle sale private parties repossessed early two days after last payment what are your options?
Court?
Before a driver drives a motorcycle, they need to have motorcycle insurance.?
Before a driver drives a motorcycle, they need to have motorcycle insurance.
The bank repossessed your motorcycle what will you still have to pay?
the bank will sell the motorcycle normally at auction what ever it sells for is taken of what is owed and you pay that balance if it makes more then is owed a refund is payed
