liens

[Gary3032]

How about filing a mechanics lein for storage charges from the time they knew you had the tractor? And the amount just happens to come to 27k
Gary

 

[TomSeller]

...another thought. If JD Finance had noticed the change in registration and put it together with a loan that was in arrears (assuming it was at that time) and did this promptly, both the new buyer and JD Finance themselves would have been in a much better position to track down the original owner. I'm not sure they had any obligation to do so however. But if I were the buyer I would make a fuss with JD and say, "hey I bought this thing in good faith, paid for it and quickly registered it in your system. Now years later you say you are coming to get it? You should have told me right away, and so forth. " Not sure if that has any legal legs, others may comment.

I agree, whether this has legal legs or not. JD should have acted much, much sooner. Like when it was registered!! Flares should have been sent up in their system.

 

[two_bit_score]

I'm sorry this happened to you. Like you, I didn't even know until reading your post that this type of scam existed. Shame on the loan companies and shame on JD for using such a loophole. Thanks for your posting. Perhaps the lawyer will offer remedies, I hope so.

But regardless of whether he does or not, I urge you to fight for your rights - all of our rights. It sounds like there are laws here that need to be changed, and it also sounds like the finance companies are taking advantage of those laws at the expense of the general public.

In my opinion, the people making the loan should be the ones responsible for protecting their own collateral. It shouldn't be up to some unsuspecting buyer to protect the finance company against some loan that they shouldn't have made and that a subsequent buyer has search out or lose out years later.

This is an example of a type of misplaced responsibility that could end up damaging our the whole concept of private ownership.
Hopefully this will get straightened out.
rScotty

You sound like a deadbeat who doesn't pay his bills. Better yet you sound like a guy who would like to finance something then sell it and probably have done it but got caught.

TBS

 

[two_bit_score]

How about filing a mechanics lein for storage charges from the time they knew you had the tractor? And the amount just happens to come to 27k��
Gary

So you suggest he commit perjury and basically try to steal the tractor because he failed to do his due diligence when buying it.


.

 

[TomSeller]

You sound like a deadbeat who doesn't pay his bills. Better yet you sound like a guy who would like to finance something then sell it and probably have done it but got caught.

TBS

Whoa.... Where is that coming from?

 

[two_bit_score]

I wonder if the current owner would be off the hook if he had sold the tractor in good faith a year or two ago, and no longer knew to whom he sold it?

Basically the buyer steps into the same shoes of the seller. Hindering a secured creditor can be a felony.


.

 

[two_bit_score]

What I do when buying a used tractor is contact the nearest local authorized dealer of that
brand and give them the VIN. They can look it up and give you all sorts of info, including
whether or not it is in a "stolen database". That has worked for me with Kubota, but I am not
sure all brands do that.

An individual who legitimately owns a tractor should have some paperwork showing his
purchase. A used tractor dealer will have some paperwork, as they don't want to get
burned in this way either.

I would like to see tractor makers step up and issue titles for tractors and states to share
ownership info. That is happening more and more with offroad vehicles and it has helped
combat the stolen (and lien) problem. Sadly, states don't always share that info yet, so an
ATV stolen out of state can be re-titled in our state. ATV/UTV/dirt bike makers need to step up and
maintain stolen databases, as (some) tractor makers do.

Most of what you are talking about is plain common sense due diligence. Good for you.


.

 

[two_bit_score]

In regards to the status of legal title to the tractor, it is probably safer to buy from a dealer if for no other reason than the dealer
probably has "deeper pockets" if the deal should go bad.


Of course, the dealer will almost certainly charge more for the same tractor than a private seller would, just as with cars or trucks or about
anything else.

Dealers get stung from time to time also. Some of them are also part of the problem if they are a little 'too slick' if you know what I mean.

.

 

[two_bit_score]

Whoa.... Where is that coming from?

Well come on, the guy rScotty is referring to definitely got scammed by the seller but it is in no way the fault of JD.

Trying to blame it on JD for the benefit of 'all of us' is the height of deadbeat idiocies.


TBS

 

[DavesTractor]

You sound like a deadbeat who doesn't pay his bills. Better yet you sound like a guy who would like to finance something then sell it and probably have done it but got caught.

TBS

I don't really agree with rScotty's post that you quoted, because I think he makes JD Finance out to be the bad guy and I think his solutions aren't all that feasible either. They indicate that he hasn't a depth of knowledge on how these things work. But they don't indicate that he is a deadbeat or has bad character or lacks integrity. You probably know a good deal about the subject matter, but what stands out instead of your knowledge is your name calling.

Calling him a deadbeat and taking shots at his character is totally not cool on TBN. Take the time to state your position or explain why someone is wrong, rather than take cheap shots.

 

[DavesTractor]

I wonder if the current owner would be off the hook if he had sold the tractor in good faith a year or two ago, and no longer knew to whom he sold it?

Actually a very good question. I wonder that myself. I'd guess he would be off the hook with JD, but not with the third owner.

 

[MORRISONSTEEL]

It varies by state, but I think in most cases tractors and other ag equipment would normally be subject to sales tax and personal property tax but
in some states are there specific exemptions. Titling would not HAVE to change those exemptions, but it might draw attention to the exemptions which could
lead to pressure to change or eliminate the exemptions- sort of the "kicking the sleeping dog" thing.

I agree here, although it would potentially save the occasional uniformed shopper from getting screwed everybody else will be paying for it as it will absolutely affect pricing in multiple directions from the oem, the lending arm, gubment, dealer, etc.

 

[Steppenwolfe]

Whoa.... Where is that coming from?

A known idiot...

 

[TheMan419]

Actually a very good question. I wonder that myself. I'd guess he would be off the hook with JD, but not with the third owner.

Depends on what he knew at the time he sold it. If he bought and sold it before he ever heard from JD finance then not his fault. A court might make him pay the buyer back might not.

He has zero obligation to JD credit other than to give them their secured property back.

 

[Jasonfoer]

I registered the tractor soon after I bought it because there was a small amount of warranty time left. Deere knows exactly where the tractor is located. i'm trying to co-opereate with them. Looks like I'm going to be out the 27k i paid for it. Working on getting a lawyer now. With the Ucc financing statement filed, it kind of trumps everything else I'm told.

Any updates?

 

[balzerja]

JD wants 25k if I want to keep it. I can buy a new one set up same way for 32k. 0 percent for 5 years. Kind of leaning that way.

 

[TheMan419]

JD wants 25k if I want to keep it. I can buy a new one set up same way for 32k. 0 percent for 5 years. Kind of leaning that way.

Any idea what the tractor is worth on the open market? Could you sell it for more than $25, pay off JD and pocket the difference for your troubles?

 

[DavesTractor]

JD wants 25k if I want to keep it. I can buy a new one set up same way for 32k. 0 percent for 5 years. Kind of leaning that way.

Offer them $20k. I bet they will take it. Someone at JD is already a hero for finding the tractor after several years, if they can get $20k without going through the hassle of auction and so forth, it's almost like found money. It may be worth $25k retail, but wholesale is a different matter.

But then again, there is something about that "new tractor smell"....

 

[CincyFlyer]

...
But then again, there is something about that "new tractor smell"....

And new tractor warranty.

 

[rustyshakelford]

Offer them $20k. I bet they will take it. Someone at JD is already a hero for finding the tractor after several years, if they can get $20k without going through the hassle of auction and so forth, it's almost like found money. It may be worth $25k retail, but wholesale is a different matter.

But then again, there is something about that "new tractor smell"....

At that point, I personally would want to start fresh and finance it out over 5 years to reduce the sting. This is absolutely horrible and I feel for you having to deal with this. It's a huge financial hit when you thought you were doing right. I wish you luck in tracking down the old owner

Brett