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Owner doesn't have title
Posted: Fri May 19, 2006 8:37 am
by aka_ayperi
I'm interested in buying a bike that is currently financed with BMW. As a result, the seller doesn't have the title.m When I paid off my car it took about 2 months before I got the title. Is BMW any faster? How have you handled the actual pay off of the loan?
Posted: Fri May 19, 2006 11:35 am
by slowpoke 04
When I bought mine, it was the same deal. I had a cashier's check made out for the exact pay off to BMW Finance and the rest in cash. The guy just had to send the check to BMW. One week later I got the title. I actually like these deals. Most people don't like them so, it easier to deal with the guy selling, less people he's dealing with on the sale. But, avoid the purchase if you don't like it. I guess if you are getting a loan to buy the bike, that might change things also.
Hey cool, my first post!
Posted: Fri May 19, 2006 12:23 pm
by ferragamo
These transactions occur all the time. BMW financing will talk to you directly if you call them. I bought my last VW in the same manner. You can send the money directly to BMW with instructions for the title to be issued to you. The owner will send the same documentation. BMW should be happy to walk you through the process. Good luck!