From: | Brian | e-mail: | bdfry-A-flash.net |
Subject: | RE: RE: Bike without title | Date: | Thu Aug 18 04:51:22 2016 |
Response to: | 21464 |
All good information. But.... in IL. from the State Site. "NOTE: A bond cannot be used to obtain titles on abandoned vehicles, repossessions, mechanics liens or estates, or to remove a lienholder. 2. A written appraisal of the current wholesale value of the vehicle from a licensed new or used vehicle dealer" "A. Surety Bond — A properly completed bond form in the amount of one and one-half (1-1/2) times the appraised value. The required Power of Attorney form must be attached by the issuing insurance company." In IL. it's All about State FEES. How much can they make you pay? Thus the Professional Appraisal that's needed with the Bond. I'm no lawyer, just know what has worked for me in the past in IL. I think the last time I used the guys in NH the total cost was $200. All in all done. They give you a Bill-of-Sale showing the Cost and you pay taxes on that amount in IL. NO Professional Appraisal Needed. NO 1 1/2 times the wholesale valve Held by the State for 3 Years. Crazy. NO Power of Attorney needed. They also give you a Letter from the State of NH stating that the State of NH does Not Issue Titles on motorcycles this old. You take those 2 Items and Go to a Currency Exchange. Pay the Taxes and fees, and you get the Plate. It's worked for me 4 times in the past. DO NOT GO to the IL. DMV. That's my experience. That's my advise. Now I'll go back under my rock. Good Luck ----- ORIGINAL MESSAGE FOLLOWS ----- Read this two-part article I wrote on this subject http://www.harleykmodel.com/technical/how- to/titles/index.html Illinois does offer a Bonded Certificate of Title, which is designed for your exact situation. https://www.cyberdriveillinois.com/publications/pdf_publi cations/rtopr26.pdf Your insurance agent, or a bonding company (Google: Illinois surety bond) can provide a surety bond for a fee of about $100. (Note: you posting a cash bond would be idiotic). You have to satisfy Illinois' other requirements for documentation. But then you get a title and tags, and can drive your Hummer around. ----- ORIGINAL MESSAGE FOLLOWS ----- I'm looking at buying a Hummer but it has no title. Apparently these were sold without a title back in the day - just a bill of sale. Anyway what are the problems I might encounter if I buy a bike without a title? |
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