Ultimate sadness - my baby got repoed!

**fishb8nz** · 26th September 2007, 12:23

Never did a finance check on it, my daft fault! Had the BMW F650CS since Jan 2006 and not a care in the world when this morning 2 gentlemen turned up with a re-possesion order from GE Finance.

What can you do, apart from cry and get drunk. Called GE and asked how much was owed but the Privacy laws prevented them telling me anything except the account holder has 15 days to pay up, if not then Turners will advertise a repossion sale.
Boo hoo, I'm so sad. Looking forward to the Taupo Track day, too.
Feeling ill, really ill!

**Paul in NZ** · 26th September 2007, 12:42

jesus wept... That sucks mate... I hope you get her back but a bit bloody rough of them not to give you a chance to pay the debt - could be a few hundred $$

Rough stuff....

**ManDownUnder** · 26th September 2007, 12:45

On the rego form there will be the history of owners. Ring back through them, contact the person concerned and find out what's owing. It sucks but it might be the lesser loss to pay the overdue portion.

Sucks man... but good luck.

**merv** · 26th September 2007, 12:47

So how much money has it cost you and I suppose you'll never see that again if the previous scum owner never paid the bills anyway?

**Grub** · 26th September 2007, 12:58

Ouch, that hurts. I'm surprised at the law too ...which doesn't allow them to tell you how much is owing and to give you the opportunity to pay the debt and keep the bike.

There's a word of caution here too. I have heard of bikes being use as collateral for a loan for something else. The loan gets repaid but the security doesn't get released ... then they go and borrow some more ... the bike gets re-attached.

From a recent transaction, we found out that the register for securities is the Ministry of Economic Development, some guy called Rob I think (have the name at home). You may be able to get some details from them. You can also spend $25 and get a VIR report. The link's on Trademe and ALL the details are there. You might be able to ring them up and have a reasonable chat. The guy isn't going to pay up in 7 days is he ... he's got nothing to loose - you have.

**yod** · 26th September 2007, 12:59

No way....fark mate, you must be gutterised....

**onearmedbandit** · 26th September 2007, 12:59

Did you buy it privately or from a dealer?

**deanohit** · 26th September 2007, 13:01

Hard luck mate, sorry to hear about it, but would have to agree to ring back through the past owners and find out how much they owe.

**breakaway** · 26th September 2007, 13:03

It's nice that everyone is giving you sympathy, I can understand how upset you must be.

But you committed to buying a bike without doing a VIR to see if anything's owed on it? That's just stupid.

**The Pastor** · 26th September 2007, 13:06

ouch dude

just ouch.

and a bigger ouch to the guy when you find out where he lives!

**riffer** · 26th September 2007, 13:08

Originally Posted by breakaway

It's nice that everyone is giving you sympathy, I can understand how upset you must be.

But you committed to buying a bike without doing a VIR to see if anything's owed on it? That's just stupid.

Yeah I think he knows that already mate.

**007XX** · 26th September 2007, 13:09

Originally Posted by breakaway

But you committed to buying a bike without doing a VIR to see if anything's owed on it? That's just stupid.

A what?? please educate me, I am all ears for future reference...

But yes, what a stink situation to be in though...

**breakaway** · 26th September 2007, 13:52

Vehicle Information Report. Read more here: https://www.vir.co.nz/

**90s** · 26th September 2007, 14:00

Originally Posted by 007XX

A what?? please educate me, I am all ears for future reference...

But yes, what a stink situation to be in though...

For free you can txt the number plate of a bike to FIND and learn whether there is anything owing on it. Doc. attached (thanks to Steam).

My brother-in-law was going to buy a TM honda prelude and we did a VIR. Found that there was $2000 on it. Asked the seller what was that about, and he didn't even know. He approached the company and it seems the owner had used the car as security on a loan and then skipped the country before selling the guy the car. As he was from overseas he was pretty much a sitting duck. Apparently this is very common.
Poor guy did a deal with the HP co. and they allowed him to settle the debt for $1k so he could legally sell it. He lost half his profit, poor ethical guy.