Loan References Information
Payday Loans | Personal Loans | Home Loans
Financing Motorcycle GE and HSBC?
In: Auto loan
17 Mar 2011I bought a motorcycle a few years back for $9500 and financed the entire amount. The finance lady financed my maximum approval of $6500 with Suzuki credit which is HSBC. To cover the remainder balance she got a loan approval for $3000 through GE Money FUNancing. My registration shows that SUZUKI HSBC owns the vehicle. My question is does GE FUNancing have any rights to the bike? Is it legal to do what the dealership did?
Related Post :
Other Post :
- I have bad credit (550), what's the chances of me getting a PRIVATE student loan w/ a cosigner w/ good credit?
- Where you you get a debt consolidation loan when you have bad credit?
- Unsecured personal loans?
- My credit score is 666, my student loan interest rate is 7. 25. If I consolidate, will it be higher or lower?
- i filed bankruptcy and now have to do credit counseling over the phone through green path?
- Tags: financing, hsbc, motorcycle
Comment Form
About this blog
This is site about loans reference and information question..
Sponsored Links
Categories
- Auto loan (509)
- Bad Credit Loans (1103)
- Banking (260)
- Car Loans (792)
- Credit (456)
- Debt Consolidation Loans (1027)
- Finance (1919)
- Loan (2916)
- Loans Calculator (381)
- Mortgage (1678)
- Payday Loans (432)
- Personal Loan (1875)
- Secured Loan (600)
- Signature Loans (96)
- Student Loan (567)
- Uncategorized (596)
Archives
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- March 2009
- November 2008
- May 2008
- 0
- gogo7: Your income as nothing to do with your credit score and the credit bureaus do not keep track of your [...]
- Jeff H: Your salary will not be on your credit report What will help your credit score is paying off the c [...]
- Searchlight Crusade: Jumbo A paper in California, I had 5. 25 without points for about three weeks in June 2003. 5. 125 [...]
- Goldenbearloan.com: I believe it was around 2004 rate around 4. 5 and you could by down to three. Had a client call me [...]
- bobhobe: Credit scores are based upon may things, but salary is not one of them. Using increased salary to p [...]
- Payday Loan – a Quick Facilitate for Your Finance
- Bad Debt Personal Loans – An Easy Way Financing Our Needs
- An Introduction of Equity Loans
- Debt Worries One Stop Solution with Debt Management
- Fast Loans for the Unemployed People
- The Way How to Finding the Cheapest Loans
- Some Benefits of the Unsecured Business Loan
- Student Loan – An Introduction to All of Us
- Secured Loans – Blow Up Your Cash Money
- How to Getting The Lowest Interest Rate On Car Loan
Recent Searches
- ocbc singapore personal loan
- PAYDAY LOANS WITHOUT THE MIDDLE MAN
- credit cards that start at 5000
- has anyone gotten a debt consolidation loan
- my friend wont pay the loan back
- If a home is $200 000 and loan is $50 000 What is the loan-to -value
- how to transfer mortage to another family member
- 3500 loan bad credit
- ihave 612 credit can i get loan for car
- how to get a loan in someone elses name
2 Responses to Financing Motorcycle GE and HSBC?
Vadalia
March 17th, 2011 at 4:52 am
It’s possible that the second loan was considered an unsecured loan (meaning it’s not tied to ownership of whatever you bought, similar to a credit card) If that’s true, GE wouldn’t have any rights to the bike. However, there are some types of loans through two (or more) companies where, if you default on either loan, that company can reposses your vehicle.
Steve
March 17th, 2011 at 4:53 am
Yes. It’s legal.
Yes, GE has a right to repossess the bike if they are a secured creditor. . However, they may need to get permission from HSBC to repo the bike. If GE is an unsecured creditor, they have no right to repossess the motorcycle. You will need to see the title of the bike to see how many liens are on the title.
I think, I’m not certain though, that this will work like if a second mortgage holder tries to forclose on a house. The second mortgage holder must get permission from the primary mortgage holder to foreclose on the property.