Heartbroken
As neocontra mentioned, some people don't get it.
My bike isn't a living and breathing being, but it is an extension of myself. It seems unfair that he isn't able to buy it back and keep it.
My bike is insured as a stock bike, that's what it was when I bought the insurance 18 months ago. Since then I've spent more on upgrades than what the bike cost me and is insured for. I'd hate to lose that uncovered cost if something happened and the bike was "totaled". Shouldn't I have first dibs on buying it back? Who has more rights to my bike than I would? Perhaps the bank, but if my payments were current and on time and I fulfilled my obligations, shouldn't I be allowed to keep ownership after paying the "ransom'? I, however, don't know the OP's status concerning on-time payments.
Granted, I pay cash for my toys and would never have a bank loan involved, so I may never face that dilemma, but I'd hate to loose my bike that way. Insurance companies are too happy to total bikes and cars...you'll get whatever they deem is a replacement value, it doesn't matter how much your vehicle is actually worth. That is understandable though, your vehicle is insured based on what value, year or whatever you insured it for, custom upgrades have their own lines to fill out for additional cost. On the other hand, you should be allowed the opportunity to buy it back, since it was not their borrowed money that was used to upgrade it, if in fact it was upgraded.
If the bike was an untouched stock bike with no love or expensive upgrades added, then the bike was never really yours, it belongs to the bank IMHO.
The Best of Harley-Davidson for Lifelong Riders
As mentioned above, have give someone the money to buy it for you and then transfer it to you.
That is well stated.
Bobber I wish you all the best, and I'm glad that you are physically well enough to be here in the forum... that is one positive thing in this whole mess, there will be more....
peace,
David



