Bike Stolen

[noname82]

I bought a new Honda click about 6months ago in a small Honda shop in Isarn, in my girlfriends name. And a couple of days ago it was stolen.

We bought it on finance, so i thought theft insuranse was included. But that was nnot the deal. No insuranse against theft.

How can they sell bikes on finance, and not insure them self for theft?

So what i wonder is, what will happen if we not pay the outstanding depts on the bike?

Anyone have a clue?

Cheers

[ThaivisaInsurance]

This is a timely reminder not to believe everything you are told when dealing with money.

The typical insurance sold by a Dealer is the CTPL as all he is interested in is selling the bike and getting it away legally with the minimum if fuss.

The minimum insurance coverage on a motorcycle should be 2^nd Class which is Third Party, Fire & Theft due to the (extremely) high chance of the bike disappearing. The policy should be bought from a registered Broker who will produce it in English so you can understand what you are covered for – do not leave to others to (try to) translate a policy written in Thai.

……….and as for the remaining debts, sorry they will come after the name on the contract for the outstanding money.

[torrenova]

Yeah, your GF will have to pay up, either monthly as per the contract or a one time payment which should see some of the interest being reduced.

[mgjackson69]

Pay it off, go on with your life...call it a lesson.

[BSJ]

You could try and negotiate with the finance company. They do want to make money but they maybe happy to get back the principle and some of the interest. It depends on how good you are as a negotiator! Doing a deal will keep your GF's credit rating intact.

[bernie66]

I would take the police report to the finance company. They just might have insurance of thier own on the bike in cases of death, theft, and people that dont pay. I would tell your lady to go in there and tell them that she will refuse to pay because the bike was stolen and the dealer told her that it was insured against theft and it was not. If she told them she would rather pay a lawyer than the finance company. They just might offer you a lower payoff rather than spend all of the time and legal fees accociated with recovering thier money. You might have to coach her a little. Credit card companies will oftin settle for a payoff when people call them and tell them they are going to claim bankrupcy because they can not pay off the card.

It may or may not work in Thailand but what has she got to loose.

Edited December 7, 2008 by bernie66

[jrbkk64]

maybe your gf and/or her family needed a quick buck??

[kingwillly]

I bought a new Honda click about 6months ago in a small Honda shop in Isarn, in my girlfriends name. And a couple of days ago it was stolen.

We bought it on finance, so i thought theft insuranse was included. But that was nnot the deal. No insuranse against theft.

How can they sell bikes on finance, and not insure them self for theft?

So what i wonder is, what will happen if we not pay the outstanding depts on the bike?

Anyone have a clue?

Cheers

hmmmm, sounds fishy, i'd check the shop employees for a start.

[loong]

If you decide to pay the outstanding balance, make sure that you get the Green Book. That way at least if it shows up, the police will contact your gf not the shop