Rebuilder Title?

[edj]

Has anyone titled an untitled bike through the 'Rebuilder Title' route as is outline on http://www.colorado.gov/cs/Satellite/Revenue-MV/RMV/1221475087616 ?

It all seems pretty straightforward until the bit about... take the bike to a dealer and have them appraise the retail value (as it will be after rebuild?) and then pay a bond equal to TWICE that retail value. Am I reading that correctly? So you buy a basketcase exotic bike for half its 'retail' value... then fix it for probably another half its 'retail' value... then give some bonding agency 2x its 'retail' value in order to title a 25+ year old bike with 'no acceptable ownership documents'. And if the bike is rare so 'retail' value is expensive... does that mean bond is impossibly expensive?

And you have to get TWO vin inspections? (the second when you are ready for the road and a real title).

[Ghost]

Never did it with a bike, but that's the process for a car, and it's definitely a PITA...

GL, HF!

[edj]

... so you end up with a vehicle that costs 3x as much as it should?

[Ghost]

... so you end up with a vehicle that costs 3x as much as it should?

Yep. It's to prevent title washing/reselling stolen vehicles/scuffed VINs etc.

They think that if you're willing to pay up then it must be legitimate since it wouldn't be worth doing otherwise...

The bond is in case it turns out that it's NOT legitimate...

[edj]

1992 CBR600F2
1994 CBR600F2
1996 CBR600F3
1999 CBR600F4 (x2)
2009 CBR600RR (x2)

Wow... I thought I had a good hand with a 'full house' or 4-of-a-kind but looks like you've got me well beat with a flush, maybe a straight, AND well more than 5-of-a-kind.

[Ghost]

1992 CBR600F2
1994 CBR600F2
1996 CBR600F3
1999 CBR600F4 (x2)
2009 CBR600RR (x2)

Wow... I thought I had a good hand with a 'full house' or 4-of-a-kind but looks like you've got me well beat with a flush, maybe a straight, AND well more than 5-of-a-kind.

Lol, I should clear that up, I suppose--all but the last 09 CBR600RR have gone bye-bye for one reason or another...though, sadly, I *really* miss my Red/Black 99 F4 and then my Red/White 92 F2 "Super Sport"

[edj]

The bond is in case it turns out that it's NOT legitimate...

And the bond I presume is never refunded?

[Ghost]

And the bond I presume is never refunded?


I forget exactly how it works, but IIRC, after 'X' amount of time you can petition to get it back (minus various fees).

I was trying to do it on a 240Z and got so frustrated will all the bullshit that I gave up and just sold it for parts.

[longrider]

The bond is not an actual cash bond for the double value, you buy it from an insurance company. I had to do it once on a car and IIRC the premium was about 5% of the value of the bond.

[edj]

that makes me happer... 5% of 2x I can handle.