I just refinanced my HD loan with my credit union. The payment was mailed on 9/22. The credit union received the actual paper copy of the title this past Monday the 18th. My credit union finance officer was surprised that they sent a paper copy. She said a lot of companies are doing it electronically nowadays. I guess once the final payment is made they can then send a paper copy to the proud owner?

 

I bought an 09 fxdb two weeks ago. My bank overnighted a certified bank check, that hd financing cashed the next day, and they said the title won't get to me until nov 8th...they cashed the payoff check on oct 8th....

 

I paid off a bike last year with EagleMark. They sent me a title that said replacement duplicate! WTF? They never would help with getting me the original. I wonder if it was because i bought outta state.!?

 

I just did this and they will take the quoted time.They can e- mail you a payoff
form in a few days showing the bike has been payed in full for the buyer.hope
this helps.

 

As a buyer, there was no way I was going to give a stranger $8 grand for a bike, and not receive the title. This was a Craigslist deal, and he was selling this bike way under value so it almost looked like a scam.
We went through the local dealer, who handled the paper work for $300 or $400 dollars.
The seller split the fee with me so it seemed fair.

 

Thats what it is.

 

I just went through a similiar situation when I purchased my motorcycle and two vehicles. Two of them were financed and the other was paid in cash.

To me, it isn't uncommon to wait on the title. For my motorcycle, my bank provided me with a certified check for the bike made out for the agreed purchase price. I gave it to the seller and we both signed a Bill of Sale which stated he was selling the bike to me for the agreed upon price and that it was my responsibility to purchase insurance on the bike immediately in accordance with my state's requirement.

He took his tag off the bike and I took possession of the bike with the signed Bill of Sale and he deposited the check. He held the title until his bank cleared my check for ten days. The day I purchased the bike, I also took out insurance on the bike and drove it on the Bill of Sale without a tag until my check cleared his bank and he sent me the title.

In most states, you have 30 days to register a bike from the Bill of Sale date, so when I received the title, I took it and the Bill of Sale with my license and proof of insurance along with my bank's information since they are holding the lien on my bike. Everything worked out great and I have a tag in my name on my bike. No problems.

Also, did the same procedure on the two vehicles. We just paid $9,000 cash (really a personal check) for my son a truck. He's 14 (almost 15) and has been working and saving his money and found the truck he wanted, so we wrote the personal check for it. We took out insurance at the dealership with a simple phone call to our insurance company and drove off the dealership with a Bill of Sale. They are holding the title until our check clears and we have a temporary tag provided by the dealership. Once the check clears, they will send us the title and I will go register the vehicle. I expect it to take two - three weeks, but again, no worries.

If you need an example of a good Bill of Sale, please let me know and I'll send you a copy of the one I use that thoroughly protects the Seller AND Buyer.

Hope this helps, Stranger