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credit checks??

Discussion in 'Politics, Laws, Government & Insurance' started by greaser, Sep 14, 2007.

  1. gday guys, need to know if there is any way you can find out if there is finance owing on a bike for sale,also numbers for a revs check.if there is finance owing to previous owner does it transfer to new buyer???seen a good on ebay anyone recomend a 05 z 750??

  2. http://www.revs.nsw.gov.au/

    That should help you find the info you need!

    In QLD if there is finance owing, the vehicle can be repossessed. You have no bike, you're out of pocket.
  3. Glad to help!!

    If the bike is only a couple of years old, try and get as much paperwork for it as you can - being a Kwaka, there could be a little bit of warranty left and that may come in handy!!!

    Good luck with your search for the perfect bike... for you!
  4. thanks carolf do you know if theres a similar site for qld?
  5. All you need to do is get in touch with the motoring body of that state, or even the major motoring club and they can steer you in the right direction ie: Vicroads, RTA etc or RACV, NRMA etc will also be able to advise.
  6. cheers guys,won the bike on ebay,got the qld revs check,there is money owingseems to incorporated into his mortgage.havent recieved any contact from the seller yet...
  7. Congrats on the bike - love the black :cool:

    Must be under a lease via the same lender.

    What did the REVS check say about who the interested party is?
  8. You wont be. You'll be hearing from the financier when seller stop paying
    & gives them your details.

    Cheers. :LOL:
  9. +1. DO NOT buy until the REVS check is clear. Otherwise when he stops paying, the finance company will come and take the bike and there is NOTHING you can do to stop them.

    Alternative: IF the bike is worth the effort, get him to sit down with you at the finance company office and arrange the sale there.

    The finance company has to sign the bike to you along with him, you pay the finance company what is owing and give him the change.

    Or if he owes more than the sale price, you pay the finance company the bike price, and he pays the finance company the extra he owes, and him and the finance company sign the bike to you.
  10. I just don't understand some people.

    OP asks about finding out if a bike has finance on it. Gets told,
    but then goes ahead & gets one with money still owing on it.
    Why ask to begin with? [​IMG]

    If its an Ebay buy, email the fella & tell him you won't be giving
    him/her a dollar until the matter has been resolved, & for God's
    sakes don't sign anything either.

    If you cop negative feedback, then so be it.
  11. If you cop negative feedback, you can ask Ebay and they will cancel the negative feedback, because the seller doesn't actually have the right to sell the goods.
  12. Hi greaser,
    Take the initative and call the finance company,
    tell them that you have been offered this bike,
    and ask what steps you need to take to aquire the bike in a legal manner,
    that would discharge the obligation to the finance company.

    If the seller gives you negative feedback if the sale falls thru,
    it can be appealed, eBay will remove negative feedback from a seller if they had no right to sell the bike.

  13. If its 'incorporated' into his mortgage, that sounds WAY dodgy. If that is the case, his HOME would be the security, not the bike. For a finance company to have a registered interest in the bike, it would need to be a secured loan... i.e the bike was used as security to get the loan.
  14. the seller emailed today saying there was a fault with his finance company.they've rectified it and he says he can fax me a copy stating no money owing on the bike sinc elast feb.Should know more tomorrow.I'll still ring the lender to verify.
  15. Not dodgy at all.

    In addition, call these guys again.. http://www.revs.nsw.gov.au/
  16. Just sold a car and had a lease on it. REVS advised takes two weeks to clear (hang on wasn;t this one cleared in Feb :? )

    Purchaser relied on fax from finance company, and was present when I called them on speaker phone to confirm no debt owing.
  17. yeah got fax today from finance co.saying no money owing,the seller apparently had paid out last feb,so all is good,picking up bike tomorrow so hopefully aal goes well...
  18. Congratulations, Greaser!! Hope all goes well when you collect your machine!!