So I am trying to purchase my first bike and have come across some questions regarding theft recovered bikes. I'm looking at this one bike in particular which looks absolutely mint; however, on the report it says that theres a claim on it for Sept 2003.
The ICBC report says the following...
Date Type of Claim Amount Paid Nature of payment
Sept 2003 Total Theft of Auto N/A Total Loss
And for the question where it asks "Was the vehicle Reported as salvage, rebuilt, for parts only? It says NO
So does this mean the title is clean? From what I gather, from what the seller told me is this....The bike disappeared sometime in 2003 and was gone for over 30 days. The owner was then paid out by ICBC. Later, the bike was found and thus resold by ICBC. So since it was considered a total loss, does this bike have a salvage title? I havnt ever looked at one of these icbc reports so is the only section that would tell me about the title the one discussed above with the question regarding salvage, rebuilt, parts? Since that says no, Im assuming the title is clean? I will call ICBC to confirm the situation but so far it seems like the bike was recovered with minimal damages and wasnt written off and thus still has a clean title, even thought it was a total loss payment due to theft and no recovery for 30 days.
What do you guys think about this whole situation? Should I just stay away or is this a safe buy? Is it possible for me to find out from ICBC how much damages the bike was recovered with?
Thanks so much!