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Motorcycle Bill Of Sale Templates PDF Free Download
What is a Motorcycle Bill of Sale?
A motorcycle bill of sale is a legal document that details the sale of a motorcycle between a seller and a buyer.
In exchange for a certain amount of money, the seller agrees to transfer ownership of a motorcycle to the buyer.
The bill of sale serves as an official record that a motorcycle was sold on a certain date for a certain price.
Why a Bill of Sale for a Motorcycle is Important
The bill of sale is a legally binding contract for the sale of an item, so a motorcycle bill of sale acts as proof of ownership of the motorcycle.
The bill of sale clearly outlines the terms of the sale (like the price and condition of the bike), so it protects both the buyer and seller if a dispute arises.
Even if your state doesn’t require a bill of sale for the private transfer of a motorcycle, it’s typically required as proof of ownership when you register and title your motorcycle.
How to Sell a Motorcycle
When selling a motorcycle, it’s best to consider all options for marketing the bike in order to get the highest price.
After a potential buyer is found, it’s recommended to negotiate the terms of the sale and sign a legally binding contract through the use of a bill of sale.
After the transaction is complete, the buyer will need the bill of sale in order to register in their respective State.
Step 1 – Preparing the Motorcycle for Sale
It’s best to sell a clean and operating motorcycle.
Therefore, it should be inspected by a licensed mechanic and touched up with any visible rust being painted over or sanded off.
After washing the bike, it’s best to wax any visible finish with a traditional wax.
Step 2 – How Much is it Worth?
The best way to figure out how much a motorcycle is worth is by finding similar bikes that are for sale in your area and comparing them or by using a price estimator that can be found online.
Above and beyond the best estimator is the Kelley Blue Book (KBB.com) although it’s always recommended to use all estimators available in addition to checking your local market.
Best Price Estimators
KBB.com (Kelley Blue Book)
NadaGuides.com
CycleTrader.com
Step 3 – Listing the Motorcycle For Sale
When listing the motorcycle for sale, it’s best to have it in front of as many eyes as possible.
Therefore, the seller should take advantage of all online marketplaces, newspapers, and local classified magazines.
This will involve the seller taking photos of the bike and gathering all necessary information that can be used in marketing and promotional materials.
Best Websites to Sell a Motorcycle
AutoTrader.com
eBay.com
CraigsList
CycleTrader.com
Best Non-Online Places to Sell a Motorcycle
Newspaper
Classified Ads
Sign in Front of the Street
Step 4 – Meeting with the Potential Buyer
When meeting with the potential buyer it’s best to show them the bike and possibly allow for a test drive if you feel comfortable with the person.
The motorcycle should be in “showroom” condition which means it should be looking as best it can be in its current condition.
In most cases, the buyer will be upfront about their interest in the motorcycle.
If they decide to purchase then typically an exchange will open up on the spot and a price may be negotiated.
If a verbal agreement is made then the terms of the transaction may be finalized through the motorcycle bill of sale.
Step 5 – Completing the Sale
At the time of sale, the buyer will be required to have the fund in their possession in the form of a certified check, money order, or cashier’s check unless the parties have agreed to a wire transfer.
The seller will need to have the motorcycle’s title, and registration and both the buyer and seller will need to input the details into the bill of sale.
After the exchange of possession has taken place it’s time to finalize the bill of sale.
Both parties should present government identification and should be copied or photo taken (with a phone) to verify their signature.
| Author | – |
| Language | English |
| No. of Pages | 2 |
| PDF Size | 1 MB |
| Category | Form |
| Source/Credits | eforms.com |
Motorcycle Bill Of Sale Templates PDF Free Download