HSBC Loan payoff

[SisuTen]

I saw a post here that said someone had trouble getting their title from HSBC, once they paid off their bike. Here's my experience...

I paid off the balance on my Versys in order to sell it (bike is still available). Several days later I received my monthly bill and there was an interest charge of $7. I had a hunch about it and was right. The title was held for the interest amount. I suppose I could have waited a while, paid my $7 bill next month and thought the title was late and been upset. This seemingly was a glitch in the computer program. The rep took the interest charge off and immediately(so she said) released the title.

I'll keep you posted.

Maybe this info will save someone some anguish.

S-Ten

 

[20valves]

I did the HSBC thing with my last two bikes and both times the lien release was promptly mailed when the loan was paid. I did 'em both on the "no payments, no interest" thing for however many months the promo was, paid 'em before any interest was due (ugly rates btw, like 22.2%), and experienced no funny business.

 

[SisuTen]

Yeah, I've dealt with them before without issues. This time, I asked for a payoff, paid it, and then the computer mistakenly charged me several days interest after it was paid off. That held up the title. Just saying, keep your head up around computers.

Paul

 

[SisuTen]

Update....HSBC had my title in my hands in 7 days after payoff. Hard to complain about that.

Paul