| Author | Message | ||
     Iamarchangel |
Figure that Froggy will probably have best info on this but, go ahead. Just bought a 2008 1125R, whoohoo. It's a US repo so there's no other info. As a shot in the dark, how do you find out if the original owner purchased an extended warranty? | ||
| Xnoahx |
Dealers can run the VIN but unless you have a transfer form from the owner that purchased the warranty you probably wont be able to use it. (Message edited by xnoahx on June 08, 2012) | ||
| Brumbear |
call H-D they may charge you a few bucks if you want it. | ||
| Brumbear |
BTW I work next door to a repo yard and have never ever seen a Buell repo'd I'll be dammed. | ||
| Froggy |
What Xnoahx said. | ||
| Dmfb88 |
I bought my 08 r from a repo dealer with 215 mi on it in 09 | ||
| Iamarchangel |
4600 miles on this one. I'm happy. Thanks, Froggy and Xnoahx. | ||
| Court |
Last Buell repo I saw was a 1989 RR-1200. | ||
| Iamarchangel |
Sad. Several people around here are making some coin by travelling stateside, going to repo auctions and bringing them back to Canada. Seem to be a lot more HD, I think due to that unemployment insurance on the loan promotion just before the economy tanked. | ||
| Ratbuell |
The reason so many HD's are getting repo'd is because HDFS is approving people they shouldn't, at 24.99%. People are too dumb to realize that "right now might not be a good time in my life to buy a $20,000 toy". And, HDFS is greedy enough they'll cash in on it for as long as they can. | ||
| Dannybuell |
exactly HDFS has been very liberal about credit since before the crash. plain and simple, banks that knowingly sell to a guaranteed fail are criminal. if corporations are 'people', why doesn't a corporation get a timeout/prison sentence when there is an overt crime? | ||
| Xnoahx |
Its all the fault of the corporations, never the person that accepted the loan. A person cant be expected to be responsible for their choices. They were bamboozled by the banks. | ||
| Iamarchangel |
Cynicism aside, people were progressively sold a bill of goods. First, rampant consumerism was promoted against all common sense. Second, interest based credit was promoted against all previous moral teaching. Third, easy credit was promoted against all common sense. Fourth, morality/religion based destiny was promoted against all historical teaching. Fifth, Turner Thesis was promoted against all economic indicators. Once the advertiser/media had normalized all that, the world was ripe for the picking. There are many parties to blame. My company was shut down and moved stateside where it will die. I was eligible for a pension which is being reduced. I received a buyout and bought this bike that will be paid off with the interest payments. Money is like any other tool. You've got know how to use it but first you've got to get it. You can only borrow your neighbour's for so long. | ||
| Court |
Common sense . . . should be. | ||
| Timebandit |
H-D didn't put a gun to anyone's head to compel them to buy a bike. the customers bought the bikes of their own free will. The consequences of their actions are theirs. If anything, the banks just acted as facilitators by making high risk loans. There's nothing illegal about that. In a case like this one, HD (as a motorcycle company) didn't do anything wrong. They sold a bike to someone who wanted to buy it. That's why HD is in business. To the extent that HD also acts as a financing company, as a business they took a calculated risk on a customer, and charged an interest rate commensurate with their level of risk based upon the person's credit history. That is no crime either. Sometimes calculated risks result in getting burned. That's the finance company's problem and nobody else's. There is no such thing as predatory lending on discretionary purchases. In the end, the consumer is responsible for making their own decisions and living within their means. If their eyes are bigger than their stomach, it's their fault if they over-eat and get a tummy ache, not the chef's. The problem comes along when do-gooders decide that individual responsibility is unimportant, and the risk for bad decisions should be socialized, in order to insulate people from the consequences of their own actions. doing that only rewards people for irresponsible behavior which amplifies the problem. | ||
| Iamarchangel |
Nah, I'm sticking with multiple blame here. There is absolute proof of predatory lending. There are gullible people. There are people that should not take risks but do. There is plenty of evidence of consumer grooming. If you accept, koff, koff, that nobody saw it coming, then why blame the victim? And all the rest has been discussed before, big whoop: as if any truth we uncover will shake the world monetary system. Any idea if a potential US warranty can be transferred to Canada? | ||
| Zac4mac |
Court - it isn't. never will be. Bob, when I worked at the Harley dealer, I watched people come in to buy a Sportster leave on a Dyna at twice the price. That's retail. A good salesman can get you in trouble fast. With Harley's mark-ups even faster. I like having zero debt, just monthly expenses. Bottom line, don't expect extended warranty with a repo... Enjoy the good deal.  Z | ||
| Timebandit |
Predatory lending? There seems to be a pretty extreme bias developing here. I think people lose track of who the victims are, as if everyone here only has compassion for the poor sap who got in over his head and screwed himself. It sounds like everyone here just wants to hate the banks. What happens when a lender takes a risk selling a brand new bike to a deadbeat borrower? THEY are the victim because they lose money. They gave out a lot of money to buy a bike at full retail price, then the deadbeat doesn't make payments, and the lender has to repo a bike and sell it at a loss for a wholesale price that's a lot lower than the loan amount. The lender loses all of the difference between the MSRP/loan amount and the repo/wholesale/auction value. The depreciation on vehicles is huge. In contrast, the deadbeat borrower got to rent a bike for awhile and have fun while the money lasted, and then he gets to walk away from the debt, leaving someone else holding the bag for his bad decisions. People who think that only victims in these situations are the deadbeat borrowers are only looking at one side of the problem -- from the point of view of a borrower. Everyone involved in the transaction loses when a bike get's repo'd. The Lenders lose too. Human nature says that it's easier to shift blame for bad decisions onto an evil bank; that's a lot easier for someone that admitting that they were stupid and screwed themselves. Zac, what you're telling me is that some people really need to stay out of dealerships. People need to be smarter about taking on debt. | ||
| Iamarchangel |
You're breaking my heart. You've already given examples of lenders taking advantage of some poor sap. The lender in those cases do not have my sympathy. In my case, in my youth, I was turned down by banks twice. In retrospect, they did me a favour. Later in life, banks mailed me interest free teaser cards. I bought my first Buell that way and paid no interest for two years bouncing cards. Careless of the banks, really, but I'm experienced enough to play that game and know the risks. I know borrowers that played the game and lost, or didn't care if they lost, but the lenders are supposed to be professionals measuring risks. I can't tell you much my heart bleeds. If the lenders hire agents that loan to high risks, why should I sympathize with them? They're the professionals not the consumer walking in to by an economy model and leaving with the luxury. Give it a rest. There's enough blame to go around. Yes, I've got a great deal on this bike and I'm looking forward to good times. I like my 9R but it doesn't have the fuel capacity for the riding I want to do. http://london.kijiji.ca/c-cars-vehicles-motorcycle s-sport-bikes-2008-Buell-Blast-1125-R-W0QQAdIdZ384 168171 | ||
| Ratbuell |
I wasn't blaming HD for being predatory...simply explaining where a lot of the repos were coming from. You're absolutely right - the consumer should be smart enough to know when it's not a good idea to buy. | ||
| Sprintst |
Don't feel bad for the lender We taxpayers paid off their bad loans with more Chinese debt and imaginary fiat money | ||
| Dannybuell |
and when banks go tits up they get bailed out. the beneficiaries of American socialism are the banks and a few corporations, not the individuals. | ||
| Timebandit |
Sprint, you won me over with "fiat". You're entirely right -- the bailout changed everything. |
