Such a shame if that’s the case

 

I would not shed to many tears, I am sure there are a few genuine cases but many are planned well in advance leaving a trail of unpaid debts and you can bet the owner will come out of it ok. Often setting up again and again in wifes/ kids names for the same thing to happen again again, stinks plenty of scum out there!

 

Hadn't they not long been appointed KTM?

 

They’ve had it for a couple of years - big place with a massive amount of stock. Can’t help but think KTM’s terms of business don’t work if these have gone too…

 

Do KTM make them pay for the bikes upfront, most seem to give them with cutoff date for payment

 

Hope not, I’ve put a £2500 deposit down on a 1290S, I’m on working on a ship and have called them but no reply! Hope you’re wrong, or that I can get my deposit back without a fight.

 

Probably OK, if you used a credit card.

 

I belive the dealers have to take the bikes from KTM on finance, and sell them to the punters. The manufactures make the money out of the finance, the dealer make their money out of persuading you go pay for the extras. KTM tell the dealers what stock and how many they have to take on.
So basically as a dealer you take on the risk of trying to sell to a skint punter, the risk of your shop rent going up, the risk of your staff asking for a pay rise and the risk of the finance going up.

Its not surprising that they go bust. If they cant lock in long term rental agreements, staff wages, rates and energy bills, never mind the finance cost imposed on them, they are buggered.

Now to add insult to injury, they will have punters comparing the latest KTM to a cheap Kove !

 

When I had my buying trauma, having an invoice with a VIN for a specific bike was the saving grace but I had paid in full and was only a couple of days (allegedly) from collection. I had previously bought a bike and two cars and pre-paying was a common thread so not unexpected.

KTM/Husky supply the bike - hence all the stock went back to HQ at Silverstone - when the bike is PDI’d, it only has a 30 minute (ish) operating time on the ECU.
At handover, KTM fully activate the ECU from Austria and then I believe the dealer has 14 days to pay for it.

Hope you come out ok - it could be a long haul as mine started in May and I got the bike in late August and there were no assets after the liquidator had taken his cut. Even the bank and HMRC got nothing.

 

I get back home on 8th Feb so will just have to see what happens, speak to the bank and get some legal advice. I’ve also emailed the salesman so see if he gets back to me.🤞

 

Sadly, NatWest couldn't give a toss As I had transferred the money.
Weird as they lost £360k(?) so shouldn’t there have been a red flag when they checked the payee.

 

I would strongly suspect a dealer wouldn’t accept a credit card payment because of the fees - but they could always say they would if the buyer paid the extra I suppose.

 

They agreed I could pay £5K on credit card so I got one with 0% finance for 9 months, I am due to pay the remainder of the price when I get back from sea next week, £5K credit card and the remainder by bank transfer.

 

You should be ok with anything on the credit card.
If they are still trading, check their business status very carefully before handing over any money before you know the bike is yours, with an invoice with the VIN on it. That shows you have a specific bike, not a general order as and when one is built and allocated. That may only apply if you’ve paid in full a though, which I had.
Expected reg number didn’t matter as KTM UK actually did the registration the day before they delivered the Norden to me.
You can say you know someone who was stitched so are a bit nervous.

 

I wonder if the salesman knew what was going on?
My wife is down at Chester KTM and the shutters are down, she’s going to wait to see if anyone else turns up. Meanwhile I’m stuck on a fucking ship!

 

Possibly £2500 out of pocket

 

Sad times

 

This was likely planned, drag it through January to fleece as many as possible of their Christmas money then walk away from a big pile of debt with HMRC, suppliers and numerous poor trusting customers left high and dry. The owner Curt isn’t known locally by a word very similar(Cu-t) for nothing, held in not very high regard locally. I live a mile away and went in Thursday 14.00hrs for parts and shutters were down and staff and vehicles stood in car park. I tried in recent years to trade a 1250gs and 350exc for new ones and I’m still waiting for emails with prices! Known as Cu-t for a reason. Be nice to think he’s gone but sadly his sort have a sick habit of reincarnation after these sort of events, shamelessly back to rip the customers off again given half a chance.

 

Hi all. We have 2 300’s fully paid for sat in there with locked ECU’s. I was there yesterday and managed to speak to administrators. Not sure where to go from here other than contact KTM UK! It’s horrific as we have nearly 20k worth of bikes sat in that store. Worst part is, yes paid on a credit card however 11k of the purchase was a part ex of a Harley. Not something we can get back either as the administrator said it now sits on the shop floor and is financed and owned by the bank. he explained that when we paid in full for our bikes in December, the dealership never paid KTM for them. Disgusting really. Now they won’t unlock ECU’s as they haven’t been paid. Which is fair enough. Hope KTM can help us directly ! It’s our only hope.. any advice would be strongly appreciated!

 

If you have receipts with VINs (or some other way of identifying a specific bike) then KTM UK should be able to help you.
Once the liquidator has sorted who ‘owns’ what, KTM will probably come and retrieve all their stock (which is what happened to my Husky).

Anyone who has identifiable bikes, write to the General Manager at
KTM UK, No. 5 Buckingham Road, Silverstone Park, Towcester, Northants, United Kingdom, NN12 8TJ

Best of luck to anyone caught up. It was a stressful few months and I was looking at losing £11,500.
The owners don’t give a toss about the poor punter, even though they know full well they are about to go under.
I have to say the KTM UK were brilliant and I had my bike in less than four weeks from contact (although I did have their demo bike as hostage, I don’t think it affected their response).

 

And buying used privately was always a risk!
Makes it rather attractive now as long as you are careful and don’t want a brand new machine eh.

 

Precisely
Choose the seller wisely and check the bike over
Hpi it
Pay for it and take it home

 

I bought a new'ish car many years ago on my debt card, paid for it the day I collected it. Just needed a phone call to verify the transaction.
If I was to buy from a dealer again I'd probably do something similar now.

 

A lot of places won’t do that now. They want the money to clear before handing over.

 

The owner, Curt, what's his surname?

 

Is this them?

 

I wrote to KTM and sent it recorded delivery. Emails can ‘go astray’ too easily. I heard back in three days but, originally it was to get the demo bike back but, once I had explained what was happening over the phone, they did jump onto it.

I think a lot of guys lost out big time with Freestyle so I was one of the lucky ones.

There needs to be a national escrow system that the buyer pays into, the seller applies for the money and then both parties agree to the transfer at handover. Essentially what happens with a house sale but without the solicitor creaming of a wodge.

 

As long as you have a bill of sale with the reg or vin number there should be no issue. The administrator can only hold assets of the company. A deposit is something different and you could loose that.

 

I bought a new KTM off Premier Bikes and forgot to take my debit card(!). I did a bank transfer and it took ages to land in their account - they were happy for me to leave before they had proof of funds but I waited as felt too much of a cunt!

 

My wife has just reminded me that I got some free legal advice through our household insurance that confirmed our googled info on our rights.
Must be worth a try if you need it.

 

 

Seems to be the same one, I’ve spoken to HSBC as I also bank with them. They’ve said to call them when I get home from sea and to let them know if I’ve had any news back as I’ve emailed KTM uk, Chester, and also Salesman who I was dealing with. Also left answerphone message. Hopefully , if I am HSBC and KTM dealership also bank with them, that communication may go smoother and there’ll be a happy outcome to all of this.😬

 

I doubt being with the same bank will make any difference.

 

Got to be better than dealing with two separate banks though

 

The thing is is that is not really anything to do with the banks. There will be an administrator appointment and he is the person who will be calling the shots now.

 

Let you know how I get on