My buddy bought a motorcycle from a motorcycle dealership on Wednesday...he bought the bike brand new for $10,000 (5 year pay-off plan) and the dealership let him purchase the bike with the insurance mixed in with the bike payment. The dealership told him that he didn't need full coverage on it...just liability. He just looked outside 10 mins ago and the bike was gone...STOLEN! He thinks someone stole it last night while he was sleeping... I didn't think a dealership would let a vehicle go off the lot unless it was covered under a full coverage insurance policy. Something smells real fishy here...I get the feeling that the dealership has something to do with this bike coming up missing...
I don't know the details of your friend's transaction, but I know that dealerships may not require full coverage if a Kawasaki/Suzuki/Yamaha/whatever credit card is used to finance the purchase. I don't understand the rationale behind it. I hope he gets his bike back, but if he didn't have full coverage, I think he's screwed.
Why would you by a $10,000 bike that could be picked up and stolen with credit and not get full coverage?
what's in it for the dealership???? if they were going to 'steal back' the bike, wouldn't they insist it be fully insured since your friend still owes them money?
