fishy CL ad - anyone "lose" an 08zx6r?

[Woodsy]

oh i'm sure its not but its done. if in the end you pay the bank (unlikely) whats the difference.

this is what happens when banks write shitty loans to deadbeats.

I think the dudes credit is fucked anyways and he is going to hand the repo guy a frame

[bigred875]

oh i'm sure its not but its done. if in the end you pay the bank (unlikely) whats the difference.

this is what happens when banks write shitty loans to deadbeats.

the joke is going to be on this guys though...once he sells the handful of pricey parts he's going to be stuck with a bunch of crap no one wants

[Slyder]

the joke is going to be on this guys though...once he sells the handful of pricey parts he's going to be stuck with a bunch of crap no one wants

And the bank is gonna be pissy because they'll repo a frame

This fool is just digging his hole deeper

[kb1]

Couple of facts...at the end of the day his credit is already in the crapper by the time the bank chooses to go after the bike, usually payments haven't been made on it for 6+ months. He can destroy the bike all he wants, as it was the bank's choice fo finance him using the vehicle as collateral against the loan, there is no law saying what he can and can't do with the bike. Technically he owns the bike, but the bank has a lein against it. Just as with people that default on their mortgages and strip EVERYTHING from fixtures to hardwood flooring out of their houses and bail, there is no law to stop them.

[Tricky Mike]

Couple of facts...at the end of the day his credit is already in the crapper by the time the bank chooses to go after the bike, usually payments haven't been made on it for 6+ months. He can destroy the bike all he wants, as it was the bank's choice fo finance him using the vehicle as collateral against the loan, there is no law saying what he can and can't do with the bike. Technically he owns the bike, but the bank has a lein against it. Just as with people that default on their mortgages and strip EVERYTHING from fixtures to hardwood flooring out of their houses and bail, there is no law to stop them.

So, what are you looking to get for the motor?

[GixerJockey]

So, what are you looking to get for the motor?

[kb1]

Not mine haha, just pointing out some stuff because everyone was saying it was probably illegal, I've worked in foreclosures and you wouldn't believe what people can legally do with their stuff even with a lien against it.

[noudidnt]

the guy is in for a surprise. When they repo the frame, the lien holder can legally charge him fair market value, for rebuilding the bike, to restore it too original condition.

[DucDave]

the guy is in for a surprise. When they repo the frame, the lien holder can legally charge him fair market value, for rebuilding the bike, to restore it too original condition.

Yeah...and they they can piss in the wind and squeeze blood from a stone...!!!

[drop]

the guy is in for a surprise. When they repo the frame, the lien holder can legally charge him fair market value, for rebuilding the bike, to restore it too original condition.

...and he probably won't pay that either.

[Jim]

...and he probably won't pay that either.

yea, but i wanna see the bank squeeze blood from a stone

[noudidnt]

I bet his stones are gonna be sore after that one

[kb1]

the guy is in for a surprise. When they repo the frame, the lien holder can legally charge him fair market value, for rebuilding the bike, to restore it too original condition.

Nah they won't charge him for that, the lien holder usually has insurance policies to combat these types of things...

[akira700]

Nah they won't charge him for that, the lien holder usually has insurance policies to combat these types of things...

or they roll that up into some complicated financial instrument and sell it to some other bank and it gets called a "toxic asset" ! Crazy world we live in !