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My bike no longer hates me.

Discussion in 'New Riders and Riding Tips' started by vladpp, Mar 20, 2009.

  1. Hi all,
    Haven't been here in a while cause the bike was at the mechanics (for the past 4 months). Long story short, i finaly got the brake discs and the road worthy.

    I went on Vic roads Vehicle Check and apparently the bike is encumbered.

    I just put $1000 in it. WTF do i do know? AAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHH
  2. Lobby the state government to change the law so that people can't pass on their debt to other people! Seriously, how hard could it be to block the transfer of encumbered vehicles? What possible good comes from allowing people to buy vehicles that are effectively owned by a third party?

    I'm sorry you got caught out, bud. Maybe you should have checked first but that still doesn't make it right.

    I'd seriously consider selling parts to get some of your money back before the repo man comes.
  3. I wouldn't take that lying down, go get a medium size hatchet and visit the guy who sold it to you.
  4. Who owes money on an 11 year old 250?

    How much is owing on it? Cant be much.
  5. Find out what finance company has a claim on the bike, as Chris said .. it may not be much. It may even be a case where there is no money owed at all, just not yet cleared by the system.
    Good Luck
  6. There's the possibility that the loan was never paid. So the amount could be the new price of the vehicle. Oh, and 1988 was 20 years ago :p
  7. Hmm, not to falme you or anything but how come you didnt check the numbers before you bought the bike? And it's alot to spend on the bike to just change brake disc and roadworthy.

    As others had said find out what company and how much is owing on it.

    I guess you really cant do anything to the guy who sold it to you either cause I think it's the buyers job to check the numbers carefully(even before you see the bike). Unless you visit him with a sledge hammer...
  8. Oh yeah. Well that goes double for what I said then :LOL:
  9. You need to talk to tramp64 at John Boundy lawyers, in Bendigo

    Just watch for the banner adverts up there ^ for all the details
  10. Plus 21 years worth of interest...
  11. Yeah. ouch :mad:
  12. Far be it from me to take advantage of another's misfortune, but I'll give you $50 for the wheels :twisted: .

    Seriously though, others upthread have already suggested the most sensible options. Best of luck with it.
  13. The company is Mercedes-Benz Finance, doesn't say how much money is owed and it references a Mercedes B/ Convertible.

    It says the encumbrance expires in 2013, i haven't been to vicroads yet so if i wait 4 years i should be good. pitty im not that patient.

    i didn't check the numbers because i got it when i was 17, i was desperate and i just convinced my parents to let me get a bike.

    i'm gonna call the guy i got it from tomorrow and and get my anti repo man stick ready.
  14. Get another bike so you dont have to wait 4 years to ride it,,,,lol. And when the 4 years is over sell it...

    On the serious side try and chase it up and see what you get. But I dont think you'll get very far...
  15. I contacted the seller, he had no probs with it, so hes contacting the previous owner and see if anything clears up.

    I'm thinking if i can get the guy i got it from to register it in his own name then transfer it to me.
  16. Sometimes when finance is paid and the encumberment is released by the bank it isn't done correctly so it will show up as if money is owing on it when it isn't.
  17. what a siht storm. sounds a bit suss that the guy you got it off is calling the guy he got it off! how did he register it if the situation is still the same?

    Maybe hes BSing you. be ready with that stick.
  18. i've had the bike sitting my garage for about a year now.

    earlier today i got an email from the guy, he contacted the owner before him, this is the summary.

    me: bought the bike for 600 cash in aprill 2008

    previous owner: bought the bike for cash in 2005(not sure how much) and hasn't had any contact with Mercedes or any loans to suggest the bike is colateral

    owner before him (from what he told me in the email): bought the bike outright (full payment no loan) from a dealer in 1995

    I'm going to Vicroads tomorrow and act dumb, if and when the encumberance comes up ill explain the situation, worse comes to worse, ill get some statutory declarations off the previous owners. Ultimate worse case scenarios ill show up to Mercedes and whip up a sh!tstorm.
  19. Whent to vicroads, booked the rego inspection next tuesday, no mention of anything else. so far so good.
  20. Not sure, but my uni law memory recalls that if an encumbered good is sold on more than twice then the final owner stll has the goods in good faith?

    Just trying to remember. :?