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.
i heard u can
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.
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.
Edit: They should replace it. Original: you win.
Certainly. This happens quite often. Repossession agents have the means to pick the motorcycle up and place it safely on a flatbed.
Is his name on the title also?
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.
Before a driver drives a motorcycle, they need to have motorcycle insurance.
Yes it can.
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
Up until the time that your motorcycle is actually repossessed, the dealer will be happy to receive your payments, even if they are late, and will allow you to keep the motorcycle. But if you wait too long the repossession will happen.
Motorcyclists must have motorcycle insurance before driving.
Yes. The charge might be grand larceny depending upon the value of the vehicle, amount received for the parts and other extenuating circumstances.
WE'RE ON OUR WAY!!!!!
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.
It means when you can't pay for something , you surrender it before it is repossessed.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
To get a motorcycle licence, you must first apply for the motorcycle learner's permit before you receive a street legal motorcycle; you can then take the written and road test to get your motorcycle licence.