Im in the maket for a new atv and have found some amazing deals on craigslist. Some of them are almost to good to be true. There is no registration for atv's in virginia so my question is what happens if I buy one not knowing the seller has a loan on it and has defaulted. If I buy the ATV could it technically be repoed from me? Due to the lack of registation and not having to have a title for it how would I know if there is a loan on it or if it is stolen?

depends. Does it have blood and brain material on it from the last owner?

And how would the seller know where you live to tell the bank where to repossess the ATV? If you're that worried, just rent a trailer, drive over to the guy selling the ATV, park somewhere down the street where he can't see your vehicle (and get your license plates), pay him in cash, drive the ATV to your trailer, load it, and drive away.

Based on my limited understanding...

If the ATV was used as collateral for the loan, then it's technically the bank's property until the loan is paid in full. I'm sure you'd be able to get your money back through the courts if someone swindled you that way.

If the ATV was not used as collateral for the loan, you're fine.

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13 4826 0948 82695 25847. Yes.

MrMephisto Wrote:
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> Based on my limited understanding...


of everything.


> If the ATV was not used as collateral for the
> loan, you're fine.


Hey, idiot, how could you use the vehicle you bought with the loan as collateral on the loan itself? Retard.

dummy Wrote:
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> MrMephisto Wrote:
> --------------------------------------------------
> > If the ATV was not used as collateral for the
> > loan, you're fine.
>
>
> Hey, idiot, how could you use the vehicle you
> bought with the loan as collateral on the loan
> itself? Retard.

Well, I was hoping that by at least trying to answer the question, some astute individual such as yourself would jump in, desperate to correct me, and provide the right information. It's a pity you only got halfway.

To answer your question though, that's how it works with car loans. I've never taken out a loan for an ATV, but I imagine that anything sold by a dealership would be subject to the same rules.

If I'm incorrect, then kindly provide the right information or shut the fuck up.

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13 4826 0948 82695 25847. Yes.

MrMephisto Wrote:
-------------------------------------------------------
> dummy Wrote:
> --------------------------------------------------
> -----
> > MrMephisto Wrote:
> >
> --------------------------------------------------
>
> > > If the ATV was not used as collateral for the
> > > loan, you're fine.
> >
> >
> > Hey, idiot, how could you use the vehicle you
> > bought with the loan as collateral on the loan
> > itself? Retard.
>
> Well, I was hoping that by at least trying to
> answer the question, some astute individual such
> as yourself would jump in, desperate to correct
> me, and provide the right information. It's a
> pity you only got halfway.
>
> To answer your question though, that's how it
> works with car loans. I've never taken out a loan
> for an ATV, but I imagine that anything sold by a
> dealership would be subject to the same rules.
>
> If I'm incorrect, then kindly provide the right
> information or shut the fuck up.


If you go to a bank and tell them you want a loan for an ATV, they will want %100 surety on the loan. In other words, you will have to have something of value to them that is either equal or greater than the value of the loan that they can get at legally (i.e. car, boat, house). Since there isn't a title or registration for ATV's, you would be unable to secure the bank loan with the ATV itself.

MrRetardo Wrote:
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> If you go to a bank and tell them you want a loan
> for an ATV, they will want %100 surety on the
> loan. In other words, you will have to have
> something of value to them that is either equal or
> greater than the value of the loan that they can
> get at legally (i.e. car, boat, house). Since
> there isn't a title or registration for ATV's, you
> would be unable to secure the bank loan with the
> ATV itself.

Thank you. So the OP does not have to worry about a repo man coming in the dead of night and taking the ATV back because the original buyer defaulted on the loan?

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13 4826 0948 82695 25847. Yes.

MrMephisto Wrote:
-------------------------------------------------------
> MrRetardo Wrote:
> --------------------------------------------------
> -----
> > If you go to a bank and tell them you want a
> loan
> > for an ATV, they will want %100 surety on the
> > loan. In other words, you will have to have
> > something of value to them that is either equal
> or
> > greater than the value of the loan that they
> can
> > get at legally (i.e. car, boat, house). Since
> > there isn't a title or registration for ATV's,
> you
> > would be unable to secure the bank loan with
> the
> > ATV itself.
>
> Thank you. So the OP does not have to worry about
> a repo man coming in the dead of night and taking
> the ATV back because the original buyer defaulted
> on the loan?


Exactly. Unless, of course, the original owner financed it through the ATV dealership and he tells him where the second owner lives...then maybe.

Well, that brings us back to the original question. Whatever proof of ownership the original buyer got from the dealership would need to be transferred over to the new buyer, or he'd run the risk of having it snatched back.

Either way, OP, make sure you draft up a record of sale that you both sign. With a witness, even better.

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13 4826 0948 82695 25847. Yes.

I would just be worried if Im out driving around on public land and a ranger checks the vin on it (they do all the time when Im out riding) and have and it come up its not my property or the courts have deemed it be returned to the loan company or something like that even If I have a bill of sale. Due to the lack of registration in the state of virgina on atv's and dirtbikes there is not alot of info on buying a used atv to make sure there is not a outstanding loan on it. Just dont want to be f-ed out of 3,000 dollars.

The absolute safest way is to buy from a dealer. I tried googling for a bit and couldn't find anything.

Maybe call a dealership and ask them?

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13 4826 0948 82695 25847. Yes.

MrMephisto Wrote:
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> The absolute safest way is to buy from a dealer. I
> tried googling for a bit and couldn't find
> anything.
>
> Maybe call a dealership and ask them?


Coleman Power Sports- Falls Church and Woodbridge

chris Wrote:
-------------------------------------------------------
> Im in the maket for a new atv and have found some
> amazing deals on craigslist. Some of them are
> almost to good to be true. There is no
> registration for atv's in virginia so my question
> is what happens if I buy one not knowing the
> seller has a loan on it and has defaulted. If I
> buy the ATV could it technically be repoed from
> me? Due to the lack of registation and not having
> to have a title for it how would I know if there
> is a loan on it or if it is stolen?


An ATV should be cheap enough to get a personal loan for it. That way, if you default on the loan, they won't come after the vehicle.

I did this on my car loan. I originally financed through Toyota's bank and a couple of years later went to my credit union and got a personal loan to pay off the bank. I received the title to the car, and now, if I ever default, the credit union can't come after the car.

BTW, those amazing deals you see on Craigslist will turn into amazing headaches. Just go to a decent dealer and see what they have.

eesh think he is sly
we like girls and he like guy
with big frankfurter

I have had 4 wheelers all of my life and understand that there could be a headache with buying a used one but I do have the capability to rebuild a entire engine. THe price for a new raptor 700r after dealer fees at colemans power sports is 8,300 dollars which is rediculous. The exact same model 2 years old on craigslist is 1500-3000 dollars with low hours on it. Even if I had to rebuild the entire engine it would only cost at most is 600 dollars. fuck buying a new one a few thousand more would buy me a toyota corolla. The markup is insane for atvs thats why all the big manufactures are posting huge losses

Well...if they are that cheap go on and get a personal loan. If you have a decent credit score, there are plenty of credit unions that will loan you a couple of thousand with low interest. No worries on the repo then if you default. For $1500 you might as well charge it.

Blessed are the murderous.

Or... Just ask for the title, or whatever is used for ATVs, so that you have proof of ownership.

Dirtbikes have titles but not registrations. There should be a title the owner can sign over to you. If they don't, I would suspect something is up.

I sold my last bike in 2003 but I doubt the rules have changed.