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[Fired00d]

Did you get insurance for the bike? If so then that should indicate it has been titled (or was being titled). I would use this to your advantage and let them know that they can't sell the bike as new anymore.... A used bike w/new model year coming out would be a about a 3K loss (IMO).

 
Ride Safe,
Fired00d
 

[rlavigna]

I am a former banker for 25 years.  The dealership is on the hook and is trying to cover their own butt.  The only way you have to unravel this deal is if you mislead or misinformed the dealer of your financial condition which caused the bank to require $3,000 down pmt.  If you did not mislead anyone and if you did not sign an agreement to unwind the deal if they could not sell the loan then you are in the drivers seat.  Do not allow them to call the shots.  The UCC (Uniform Commercial Code) and your state bank regulations are written to protect you the consumer from a dealer who made a mistake.

Play some poker here and don't show your hand.  Good luck and make them pay for their own mistake.

[Fatboy]

Billy

 We have a CVOHARLEY member in Omaha who is an Attorney and I'm sure he would help you out if needed.

 PM me and I'll give you his contact info, we used to ride together.

 The dealer had a $6k margin on this bike at full retail (not counting the F&I profit and profit and the add-ons), so now they have to eat half due to their mistake too bad for them.  The bike should never have left the parking lot unless the was final and closed.

 I wouldn't speak to them anymore about it and would definitely have an attorney take over all dialog on your behalf.

 And in the mean time get out and ride!

Fatboy

PM sent: with CLKKelley's info

[mjb765]

I agree.....Look at it this way---what would they do if you wanted to return the bike?  They would say it's yours and if you want to get rid of it then you need to sell it on your own or they would try to sell it for you--either way it would need to be sold as a used bike. If the DMV work is already done then even better for you.

[billyo2222]

Drtyk9. Nothing changed o my credit AP he said he didn't know they needed money down. Fird00d I had to have insurance and have my insurance company FAX the copy as part of the lending agreement before the bike could leave the lot.

[mjb765]

If the DMV work got done and the lien is in place, then the bike should be yours. The only thing that I am thinking is if the dealer tells the bank that they did not get the required down payment that might void the loan...or would the dealer be on the hook for releasing the bike to you....I'm not sure how that would work

[billyo2222]

That's what I am curious about? I have signed loan papers and a bill of sale and nowhere do they say $3000.00 was required. Hell I allready sent the warranty card to dunlop for the tires.

[Fired00d]

Drtyk9. Nothing changed o my credit AP he said he didn't know they needed money down. Fird00d I had to have insurance and have my insurance company FAX the copy as part of the lending agreement before the bike could leave the lot.

All of this is working to your advantage.... you've gotten some good suggestions so far on how to proceed... sounds like the ball is in your court and they should be willing to work with you... it's going to be the best for them and you.

 
Ride Safe,
Fired00d
 

[billyo2222]

They are gonna love the fact it will have 600 miles by Monday.

[hdnik]

OK Some finance Facts. The dealer acts as an agent for HD credit. The loan was approved for the amount of the total sale price less trade, plus tax, plus fees and extras, less $3000. Whatever that amount was, that was what money the dealership was advanced for the bike. (plus they may also have got a paid a fee for the doing the paperwork called a reserve. That is F&I profit based on the rate they signed you for... the higher the rate, the higher the reserve bonus.)

HD credit has no other interest so long as they get paid each month. The dealership cannot unwind the deal themselves. The agreement is between you and HD credit and HD credit could give a rats ass if the dealer ever collects the 3 grand. They have a valid loan with you and if you pay them they are whole!

If those loan papers are sent to HD Finance.... YOU are responsible for the loan balance and the bike is the collateral for that loan.... no way the deal gets undone with out you... so DO NOT let the dealer off the hook. As the agent they have to submit the paperwork sooner or later.

Get legal advice before you speak to the dealer. You can listen to waht they have to say, but if they did not tell you you needed money down they are on the hook.

Now if you had mislead them or if they told you about the down stroke and you gave them a bum check, that would be a different story, but from waht i've read here, you are in the driver seat.... JUST LISTEN, DO NOT TALK.

Don't forget if  the dealer sells your trade, they will make a few grand. The can just apply the difference to the trade to be whole... and then fire the business manager.

As a car dealer i have eaten plenty of larger mistakes than that made by my staff, and other times the customer has conceeded some out of fairness and good relations... which in the end i would do if i were you, but NO WAY DO YOU BRING THAT BIKE BACK and let the dealer off the hook.

[mjb765]

That's what I am curious about? I have signed loan papers and a bill of sale and nowhere do they say $3000.00 was required. Hell I allready sent the warranty card to dunlop for the tires.

That is another thing in your favor.

[Buy early]

Fascinating conundrum. Enjoyed reading the advice. Don't have any to add myself because I have no experience/expertise in this area but it looks like some of the forum members do. Personal opinion (not advice), possession is 9/10ths and it looks like the paperwork you have is clean. It will be interesting to see what their plan B is. Keep us posted and ride the heck out of the bike you have!

[billyo2222]

Thank you guys so much. I feel much better. I don't want to be a jerk but I never would have traveled 600 miles round trip and taken accessories of my deuce(some of which I sold already), installed accessories on this bike had I known I needed 3 grand down. Feel like they are painting me in a corner. Guess I'll call a lawyer Monday. Like I said thanks again to all.

[mjb765]

Thank you guys so much. I feel much better. I don't want to be a jerk but I never would have traveled 600 miles round trip and taken accessories of my deuce(some of which I sold already), installed accessories on this bike had I known I needed 3 grand down. Feel like they are painting me in a corner. Guess I'll call a lawyer Monday. Like I said thanks again to all.

The dealer is 300 miles away?? I guess no need to worry about keep a good relationship with them then....

[KaseyKahnefan]

billyo2222,
1) what ever you do DO NOT GIVE THEM BACK YOUR ORIGINAL CONTRACT! It's a contract and they are bound to it. Let them know you are going to send a copy of the contact to the state attorney General for review. The state does not like dealers who use fraudulent practices. If you hand them the contract and they shred it you no longer have any proof....remember that.
2) does the contract show a $3000 down payment on top of your trade? Did you have equity in your trade?
3) Any dealer has more than one option for financing, let them find one that will take the paper (as is), they are not locked to Harley or anyone else.
4) you had to have a temp license on it when you left the dealer so the DMV paperwork is in otherwise they have committed fraud to the state....the state DMV should be able to help with that.
5) Sure they are nice and cool to you, they are trying to convince you to pay them an extra $3000 bucks.
6) did they tell you you were approved when you purchased it? I can't imagine they let you take it without approval.
7) the next trick they will use is...Well we found you the financing BUT instead of X.XX% interest its going to be a higher XX.XX interest rate....NOT! tell them a deal is a deal and you will not agree to anything other than the original deal.
On a lighter note....I get first dibs on that Diamond fuel door if this goes south...LOL!   I think you are in a great position if you hold your ground. Good luck to you and put about 1000 more miles on her.