Buying used 500 that was purchased with Star Card?

[ispperformance]

I am looking to buy a Sportsman 500, and the owner said there was no lein, but a balance because he used the Polaris Star Card? I would believe that if you stopped paying on this card a bank somewhere would be looking for their collateral. He thinks it's free and clear, but I don't know how the star card works, anyone?

[blueline15]

The star card is basically a credit card. Its an unsecure revolving loan. So good news for you, he should have the title clean and clear in his name. The bad news for him is that you have very high interest rates compared to installment payments, but thats not your problem. If it was financed through GE, Sheffield, or a local credit union, and he didnt pay, yes they will come after the machine, but they should also have the title.

On the starcard, since it is unsecure, if you buy it, you should get the title for it, and if he doesnt continue his payments, the only thing they should be able to do is sue him to garnish his wages. There should be no collateral for the balance.

[ispperformance]

That is good news. So atvs have titles like cars? I assumed it was just a transferrable registration. No lien on title, and I should be good.

[Thor]

Depends on the state. Some do and some don't. As long as he has a Factory MSO you will be fine.

[blueline15]

Thor is right, depends on the state. The two states I am familiar with are Washington State or Oregon. Both issues titles just like a car on the machines. Some states only do registrations, in which case he should have the MSO (Manufacture State of Origin) If you state, or the state he has it in is a title state, they will get the MSO in exchange for the title. If its not a title state, he should have the MSO with him. Polaris sends a MSO with every machine.

[duffer]

I'm not sure if it is the same as a Star Card, but I financed a portion of my bike on a Polaris Card that is issued through HSBC. It is an actual credit card, but there is a lower fixed interest rate that applies to the balance owed on the machine. And the minimum payment is what I asked for my monthly payment to be. So in some cases, it works out the same as financing with a local lender, as far as rate and term go. And you can use it as a regular credit card if you choose, but then your typical credit card interest rate would apply.

[Thor]

Our state of IL does issue title on Quads but it is really not needed since we do not register our units here for trail or street. When ever I purchase a new or used unit I go to the WI DNR site and get a 2 year trail sticker with registration card for $30 since all my riding is over the border in WI and quads need to have WI tags for trail use. This is what they use in WI as a title. When ever I sell the unit I provide the original title from prior owner / MSO and the WI card. Much better than paying IL title fees & tax!

[Diesel man 03]

Yes, in Wi all you do is register it and buy you trail tags or farm tags,farm tags are forever and trail tags are for 2 years.