A motorcycle bill of sale certifies that the buyer received ownership rights to the vehicle in exchange for a financial payment. In most states, completing the form is necessary to finish the registration procedure. Thus, to assist you in making better decisions going forward, I will go into greater detail on the former in this post.
Why Do You Need a Bill of Sale?
It is necessary to properly document the sale of your motorcycle to establish ownership and provide proof of a predetermined purchase price for taxation. When the car changes hands, this proof of ownership will help get registration and transfer the title. After the transaction is completed, the document can also help the seller if the motorcycle is abandoned or used unlawfully before the transfer.
A Motorcycle Bill of Sale: What Is It?
A motorcycle bill of sale is a document that the buyer can use as official documentation of their purchase, confirming in writing that they bought the motorcycle legally. The paperwork is necessary for registering the just purchased vehicle, together with the bike’s title. The buyer’s and seller’s handwritten or electronic signatures are required for the bill of sale to be considered legitimate.
How to Market a Motorcycle Successfully
Make Sure the Motorcycle is Clean:
Spend a little more time thoroughly cleaning your bike. To guarantee a thorough cleaning in tight spaces beneath plastics, in and around spokes, dials, and wiring components, you can even disassemble the bike. Before taking pictures and displaying the bike, make sure the chain, engine, wheels, body, and seat are all free of any damage. Simple repairs like changing the footpads or wiping off scuff marks can greatly enhance the overall appearance. Just polishing the tires and chrome and lubricating the chain will make the vehicle look years younger.
Examine for Damage and Replace or Repair if Necessary:
To retain an advantage when it comes time to haggle, you should set the stage for the bike to be in optimal operational order before you are prepared to sell. Examine the item for any problems, including tiny dings or scratches, and include them in your listing. Check for rust or leaks in the engine element and perform any necessary repairs. Replacing worn-out and broken parts at your own expense can prove to be cost-effective in the long term and make selling the bike easier than selling it “as is.”
Establish a Reasonable Sales Price:
Start by analyzing sources such as Kelley Blue Book, NadaGuides, or Cycle Trader to ascertain the recommended retail price of a car. Examine local average sales prices from sources like Motorcycle Shopper Magazine and Internet classified ads. Assess the bike’s value and think about raising the asking price by a few hundred dollars. If your bike has aftermarket parts, you might be able to recoup some of the cost by selling them separately.
Promote the Sale Through a Range of Strategies:
When listing a bike, include all relevant information, such as the year, make, model, mileage, date of last maintenance, accessories, and any problems. Take close-ups of the engine parts and instrument panels in at least ten well-focused pictures. Utilize print classified ads, neighborhood bulletin boards, and internet classified sites like Craigslist, eBay, Cycle Trader, and Facebook Marketplace. Think about working with dealers or consignment services.
Complete the Bike Sale:
Set up a meeting in a public setting, such as a bank, mall, or motorcycle dealership, to sell a motorbike. Finalize at the lending institution if financing is in place. Use the buyer’s bank if the bike is owned outright. Request the asking price and collateral identification if a buyer asks to test ride the vehicle. It’s riskier to test-ride a motorcycle than a car or truck. Following an agreement, finish the bill of sale, exchange money, pick up the plates and registration, and give the owner’s manual, title, keys, and records of the vehicle’s past.
Motorcycle Bill of Sale (Sample)
