A Motorcycle Bill of Sale form is a paper transcript that catalogs the material facts surrounding the sale of a motorcycle in exchange for financial consideration. It generally includes the key informational elements on the buyer and seller, motorcycle, and sale to then be endorsed by the applicable participants. This form can be utilized to corroborate ownership for legal purpose or when it comes time to register the vehicle.
Proper documentation of the sale of your motorcycle is essential to proving ownership and producing evidence of set purchase price for tax purposes. This proof of ownership will be useful when obtaining registration and transferring the title of the vehicle after it changes hands. The form can also support the seller after the sale has been finalized, should the motorcycle be abandoned or operated in an illegal manner prior to transfer.
Take the extra time to cleanse your bike from top to bottom. You can even take the bike apart to ensure a deep clean in hard to reach surfaces under plastics, in and around dials, spokes and wiring components. check chain, engine, wheels, body, and seat for anything that will need to be replaced before photographing and showing the bike. Improve the overall look with some easy fixes such as buffing out scuff marks or replacing footpads. You can take years off the appearance by simply polishing the chrome and tires and lubing the chain.
You will want to lay the groundwork to have the bike in the best possible working condition before you are ready to sell, to maintain an edge when it comes time to negotiate. Check for any issues and catalog even minor damage, such as small scratches, to include in your listing. Examine for engine element leaks or corrosion and make required repairs. Replace worn-out and broken parts at your expense, it may be worth it in the long run and will be easir to recoup when it comes time to sell than a bike sold in ‘as is’ condition.
To evaluate the suggested retail price of the vehicle, you can start at a leading evaluation resource site such as Kelley Blue Book, NadaGuides or Cycle Trader. Next, explore the average sales price for the same or similar used-motorcycles within your regional territory in online and print classifieds or pick up a copy of Motorcycle Shopper Magazine. This will give you a better idea of what buyers are actually willing to pay, which may be dependent on your location and time of year you choose to sell. Once you have determined what you believe the bike is worth, consider what you are willing to take for it and narrow down what your prepared firm price would be. When listing you may also want to add a few hundred dollars more to the price as most buyers are looking for a deal when purchasing a motorcycle in used condition. If your bike has been equipped with aftermarket accessories, you may want to contemplate selling them separately. They generally do not add significant value to the vehicle but could possibly gain an additional amount if sold individually.
When it comes time to list the bike, create a thorough description. Include the year, make, model, mileage, last maintenance date, accessories, and any issues or damage associated with it. Take at least 10 photos to present different perspectives of the vehicle. Try to get photos that display a good quality of light in sharp focus and incorporate close-ups of instrument panels as well as engine components. There are an array of online classifieds to promote the sale, Craigslist, eBay, Cycle Trader, and Facebook Marketplace to name a few. If you choose to market in print as well, check are classifieds in newspapers and circulars or classified-specific magazines. If your local community presents opportunities to post flyers on bulletin boards at part shops and motorcycle hangouts, take advantage of this option. You may also elect to use a consignment service such as RumbleOn or approach an area dealer to inquire if they would offer such a service for your needs.
When responding to interested parties suggest arranging to meet in a public place to showcase the motorcycle. A bank, shopping area or ideally, a dealership are all decent places to facilitate the sale. If the vehicle is actively under financing, the optimal location to finalize would be at the financial institution in which the loan was initiated. If the bike is owned outright, the buyer’s bank is a good choice to avoid carrying around large quantities of cash for either involved party. In the case a potential buyer requests to test ride, always ask for collateral identification and perhaps the cash amount of the asking price. Keep in mind you do not have to grant one as an optional alternative could be to have it inspected by a mechanical specialist. When it comes to test-riding a motorcycle, a higher level of risk is presented than a car or truck, especially if you are not selling to an experienced rider. If you do opt to allow one, always check their licensing credentials and insist that they wear a helmet. After an agreement on purchase price has been met you can complete the bill of sale, exchange the payment, and take the plates and registration. Be prepared to also present the new owner with the keys, title (signed over), owner’s manual and vehicle history documentation to complete the transaction.
Step 8 – Instruct any designated witnesses to observe the endorsements of the buyer and seller and then provide their own signatures to the document along with a printed name following each signature.