Don’t get “stung” – check for liens
When I was 8 years old, I was walking with my neighbour in a farmer’s field. I’m quite positive I was up to no good. This is not based on memory but probability. I remember what happened next though vividly. I was following my friend through a culvert to get home and I stepped on a wasp’s nest. I was covered. Screaming, we both ran all the way home. My Mom was in the kitchen when I burst through the door. I was screaming that I got stung on my thumb. My thumb was hurting so much! I don’t know why I was fixated on the pain in my thumb. I was covered head to toe in wasp stings. But the only pain I felt was my thumb. My first experience with being “stung” was a dandy….
Of course, in the real world we use the word “stung” in an entirely different way. Usually, we refer to it as being “ripped off” or “cheated”. We say things like that customer “stung” us for thousands of dollars. Being stung in a transaction is painful. Like stepping on a wasp’s nest. Its just a different kind of pain.
I was almost recently “stung” again. In the fall, when kids’ hockey was officially cancelled, I thought maybe I would enjoy the winter months getting a snowmobile. I decided to buy used because it was an impulse buy, and a buddy of mine searched the classifieds for a toy that was priced right. He buys a tonne of stuff privately so he was a great help.
After countless conversations with sellers, I was getting really frustrated. About to give up, we came across a great deal in Waterloo. I immediately contacted the guy and negotiated a price. My buddy was going to pick it up with me the following weekend. Then my auction instincts kicked in. I requested the serial number of the sled. The guy didn’t respond right away. I asked again. He sent it over to me and right away admitted there was an unpaid lien on the vehicle. Essentially, he owed the bank for the sled. He assured me that he was going to take my money and pay off the loan. He was a nice guy; he probably would have. But what if he didn’t….
Just because you have ownership of a vehicle, it doesn’t mean it is free and clear. Banks have rights to repossess vehicles that they are owed money on. Regardless of whether the ownership has changed hands. I could have bought that sled, and a bailiff could have legally taken it from my driveway the next day.
My friend was in shock. He buys all the time privately from the classifieds and had never checked this. He is lucky that he has never been “stung”.
At the auction we check every item purchased for liens. We don’t accept consignment unless it is lien free. The last thing we want is you purchasing a vehicle through the auction worried about if the vehicle has a lien on it. Rest assured; we have taken care of this for you.
When you buy at North Toronto Auction, you can buy with confidence. Vehicles are free and clear of all liens and encumbrances. The only stings that you need to worry about are from our flying wasp friends….
Thanks for Reading,Matt