While reading through the other thread, I thought I would bring this up without hi-jacking theirs.

I financed my bike through HSBC at the time, which may not have been the smartest move on my part. Anyways, I am looking to sell it soon and while I am upside down on it a little bit - there is one thing that troubles me.

When I called HSBC to ask about how a transfer of title would work, they explained that they would not remove the lien until full payment was made and the account was closed PLUS they would not mail a clear title for upwards if not more than 30 days.

I don't know about this situation. My understanding is that once money changed hands, I would not have clear title for up to or more than 30 days at which point the transfer could take place and the bike could be registered in the new owner's name.

Personally, I don't like the idea of someone else riding a bike in my name while I wait for the title work to clear, and from my understanding most insurance companies won't let a rider get insurance on a bike they don't legally own.

I guess I could pay the difference so that it is not upside down, then try and refinance it through my bank, but that would more than likely ding my credit in a large negative fashion in addition to creating a large hassle.

I now realize I should have asked more questions regarding the financing and how it was going to be done in addition to the transfer of title should I sell it, but something just doesn't feel right.

What are your thoughts on my cluster f*ck of a situation? Maybe I'm just thinking about it too much?

You can't register/insure a bike w/o a title. At least thats how it is in NJ. I was in a similar situation. I took a loan through my credit union paid HSBC in full to get the title which was another debacle for them to send it but thats another story. Hope you solve this dilemma and F HSBC! Can the new buyer take over the loan? Keep haggling that sorry excuse for a bank and don't let them jerk you around.

It cannot be assumed from my understanding, and because of the fact I am upside down on it being the dumbass I was - I have to pay off the FULL amount before they will release the title.

Next time, I'll just pay cash and I'll love it even more.

sounds like you talked to one of the idiots. Call them back, and talk to someone higher up. I deal with HSBC almost everyday, they are willing to work with you to make it happen.

Once you have the lein satisfied they will give you a lien receit and then you can apply for a new title and not have to wait for the bank :cool

Once you have the lein satisfied they will give you a lien receit and then you can apply for a new title and not have to wait for the bank :cool

They said that the letter of lien release would more than like take at least 10 business days and it more than likely would come at the same time as the clear title if not together in the same package.

If you sell it to some else that is going to finance it the banks will handle it all.

HSBC customer service blows. I won't do business with them ever again after my experiences with them.

When I paid my bike off early, the title came pretty quickly, but I guess it'd be an eternity if I was waiting on that paperwork to complete a sale of the bike.

I originally financed my bike through HSBC and after I realized how much of a rip-off it was I transferred the loan to state farm bank.

Even after my bike was paid in full they kept my account open and I've had to call over and over again to get them to close it out so it doesnt not affect my credit. I'm still waiting on the confirmation letter in the mail saying it was cancelled out.

While reading through the other thread, I thought I would bring this up without hi-jacking theirs.

I financed my bike through HSBC at the time, which may not have been the smartest move on my part. Anyways, I am looking to sell it soon and while I am upside down on it a little bit - there is one thing that troubles me.

When I called HSBC to ask about how a transfer of title would work, they explained that they would not remove the lien until full payment was made and the account was closed PLUS they would not mail a clear title for upwards if not more than 30 days.

I don't know about this situation. My understanding is that once money changed hands, I would not have clear title for up to or more than 30 days at which point the transfer could take place and the bike could be registered in the new owner's name.

Personally, I don't like the idea of someone else riding a bike in my name while I wait for the title work to clear, and from my understanding most insurance companies won't let a rider get insurance on a bike they don't legally own.

I guess I could pay the difference so that it is not upside down, then try and refinance it through my bank, but that would more than likely ding my credit in a large negative fashion in addition to creating a large hassle.

I now realize I should have asked more questions regarding the financing and how it was going to be done in addition to the transfer of title should I sell it, but something just doesn't feel right.

What are your thoughts on my cluster f*ck of a situation? Maybe I'm just thinking about it too much?


I think that you don't understand a basic idea at work here. You did not buy a bike, HSBC did. THey paid for it and you are paying them back plus interest. why should they give you the title until you have paid them. I mean the bike is theirs until you pay for it.

i LOVE taking out credit lines with HSBC- BIG ones, and then paying it off before they get a fucking dime of interest. i did it with my bike, furniture, everything possible.

there's a term in the credit industry for those who pay off their debt before the interest hits- deadbeats.

pricks.

hsbc SUCKS.

I financed my bike with them too. Then, I sold the bike. For some reason, they showed 2 bikes on my account w/ two different VIN numbers. When I asked them how this could happen and what I can do to remove the VIN that isn't mine, they responded:

"It's an internal issue and we'll fix it on our side".

Trae,

Just ask them what’s the payoff amount. Pay that by phone, don't mail it in, and they should send you the title (30 days). You will still have the remaining balance with them. If you have any promotional loans ($99 a month) deal, you should still have that deal. I don't recommend paying just $99 a month tho...

The lein release can be given to you about 30 seconds after you pay off the loan. Just ask them to do that and they should. If they say they cant talk to a manager, there is no reason to hold up your sale once you pay off the loan and a lein release is just a letter singed by the bank. They can have the letter prepared in advance if you let them know when you plan to be there to pay off the loan. Remember they want you to borrow money from them again, especially if you make your payments on time. They should provide reasonable services to keep you as a customer. You need to ask them to do the things you want rather then asking what their normal practice is. the moral of this story is....You need to ASK inorder to GET!!

hello fellas... I bought a bike through hsbc... cant regrister online cause the account number is retarded... any one that possibly could help me would be nice.

the.helgesons@yahoo.com

hello fellas... I bought a bike through hsbc... cant regrister online cause the account number is retarded... any one that possibly could help me would be nice.

the.helgesons@yahoo.com

I dont think anyone can help you with your account number being retarded... Call HSBC? But anyway i got my loan from a credit union

i know the number... just not how to plug it into the registration. and im kinda freaking out cause we call they hang up.

i financed my old bike through them and still owed money on it. i sold it to some dude but had to give him the bike and my tag in order for the sale to go. he did sign an agreement and i knew where he lived and all that stuff. hsbc would not let me change the name on the title to his. they told me i had to wait till i got it then sign it over.

thats their dumb process. will never use my suzuki card again. best to pay cash, thats what i do. id rather save for 1 year and buy a bike cash than finance and worry about monthly payments.

j

looks like youve seen the light!

My dilemma,

I bought a bike from a private seller. He was still paying off via his Suzuki credit card. I gave him the money, and he paid it off.

He said when he checks his balance no more money is due. So therefore they should send him the title. But he can't get a hold of anyone to talk with. HSBC sucks. Does anyone have a number for them which can lead to getting something accomplished.

I can't register my bike until I get the title. I have gotten pulled over twice now and its getting old.

Help!!!

You did this all wrong. "He said" is not good enough. As far as you know, he spent your money on whiskey and tattoos. Yes, HSBC is a bunch of morons. Now you're going to have to convince the seller to make a hobby of these people. I'm talking about calling them 6 times a day until he finds intelligent life. Of course, if he did spend the money on whiskey and tattoos, you are well and truly screwed. If there is any other debt on the card (highly likely there is), it will be difficult to convince HSBC that the actual debt of the bike is paid.

For future reference, never buy a bike you don't get clear title for at the transaction.

For future reference, never buy a bike you don't get clear title for at the transaction.

best advice on here so far!!

weird all these problems, while hbc rapes you on intrest i had no problems when i sent them a check for the full amount i owed and then telling them to close out my account. I received the letter to get them removed off the title within a week or two.

HSBC is a shady company at best.

Don't Ever In Your Life Deal With Hsbc!!!

Don't Ever In Your Life Deal With Hsbc!!!

fosho!! once i pay off my bike next month I will never..ever.. deal with them again.

^^ :ban

HSBC customer service blows. I won't do business with them ever again after my experiences with them.

When I paid my bike off early, the title came pretty quickly, but I guess it'd be an eternity if I was waiting on that paperwork to complete a sale of the bike.

Truff

There are too many banks out there to deal with douchebags