Facts about the Motorcycle Bill of Sale template

Contents

What is a Motorcycle Bill of Sale?

When buying or selling a big-ticket item, such as a motor vehicle, it's vital to have official documentation detailing the transaction. For car, truck, or motorcycle transactions, buyers and sellers can use a bill of sale form to document the purchase. Having a bill of sale may be a requirement in some states when a private party sells a car or motorcycle. Even if it's not required by state law, it's recommended to have a bill of sale when transferring ownership of a vehicle. This document can be beneficial to both the buyer and the seller of the car or motorcycle.

For a motorcycle, the bill of sale should detail information about the vehicle, such as the year, make and model. There should be a detailed description of the condition of the motorcycle, including whether or not the sale is "as is." Private vehicle sales should also indicate whether or not there is a warranty on the motorcycle after purchase, and if so, how long the warranty is active. A bill of sale also includes information about the transaction, such as the purchase price of the motorcycle, how payments will be made if applicable and the location of the sale. In Maryland, West Virginia, Louisiana, Montana and Nebraska a motorcycle bill of sale must also be notarized.

What is a Motorcycle Bill of Sale used for?

A motorcycle bill of sale is used to get a document that offers proof of purchase for a motorcycle sales transaction. This document may also be required by the state's department of motor vehicles for the new owner to get a title, registration and an insurance policy. A motorcycle bill of sale also gives the buyer and seller a way to have a document for tax purposes if needed.

Why should you use a Motorcycle Bill of Sale?

If you're planning to purchase a motorcycle from a private owner instead of a dealership, it may be difficult or impossible to title and register the vehicle without a motorcycle bill of sale. The bill of sale also makes it possible to get required automobile insurance for a motorcycle. Additionally, for the seller, the bill of sale may be mandated to transfer the ownership of the motorcycle to the buyer and allow the seller to remove the motorcycle from the insurance policy.

Having an official document detailing the motorcycle's sale's transaction also benefits the buyer and seller if there is a problem with the vehicle. If the bill of sale includes a vehicle warranty, the buyer gets some protection if there is a mechanical problem during the warranty timeline. Sellers can also protect themselves from potential liability if the buyer gets in an accident or receives a traffic violation.

How to write a Motorcycle Bill of Sale

Once a private seller finds a potential buyer for a motorcycle, the process of writing the motorcycle bill of sale can begin. Usually a seller advertises a motorcycle for sale and the buyer comes to look at the vehicle or test drive it before committing to a purchase. Then, the two parties can start negotiating things like price, warranty and payment details if needed before putting everything down in writing on the bill of sale. The bill of sale is usually drawn up by the seller and given to the buyer once the transaction is complete. The seller has to get information and documents about the motorcycle to fill out certain parts of the bill of sale. It's important for all of the vehicle information to be accurate in the official bill of sale.

A typical motorcycle bill of sale should have the following information:

  • The name and address of the seller
  • The name and address of the buyer
  • The year, make and model of the motorcycle
  • The vehicle identification number (VIN) for the motorcycle
  • The condition of the motorcycle
  • The sale price of the vehicle
  • A disclosure statement about the vehicle's odometer reading
  • Any details about a warranty if included
  • Whether or not the sale is "as-is"
  • Sales tax information
  • Details about making installment payments if applicable

How to Fill Out a Motorcycle Bill of Sale with PDFSimpli in Five Steps

  • 1. Preparation:

    First, the seller must determine the motorcycle's value based on its condition, year, model and make and set a sale price. An interested buyer must then work with the seller to help prepare the bill of sale. The seller gathers any important documents about the motorcycle before writing the bill of sale, such as the title, registration and insurance documentation. The seller must also take off the motorcycle's license plate before transferring ownership of the vehicle to another party.

  • 2. Choosing a Software:

    Once the seller is ready to start drafting the motorcycle bill of sale, all of the details and documentation about the motorcycle should be available. The seller should use a convenient software program to create this document. PDFSimpli offers private vehicle sellers the power to quickly draft a motorcycle bill of sale and move forward with the transaction. PDFSimpli makes it simple to create a legal document that contains all of the pertinent information for this type of transaction.

  • 3. Fill Out or Edit the Motorcycle Bill of Sale:

    Then, the seller must go through the bill of sale and fill out the important information. Using a software program like PDFSimpli helps private sellers fill out and edit the essential details for a motorcycle bill of sale. While drafting the form, the seller must double check that the details are correct in the document and match the vehicle's title, registration and other official paperwork.

  • 4. Review:

    After the seller finishes the draft motorcycle bill of sale, everything should be checked for accuracy and reviewed for potential errors. The seller should also make sure the bill of sale matches the state's requirements for this type of document from the department of motor vehicles.

  • 5. Save, Download, Print or Send for Signature:

    After reviewing the bill of sale, the document should be saved, downloaded and either printed or sent over electronically to the other party. The physical copy of the bill of sale should be presented to the buyer once the transaction is finished so that each individual has their own copy. The bill of sale needs to be signed by both the seller and the buyer and also may be notarized if required by the state. Finally, a copy of the bill of sale may also need to be forwarded to the department of motor vehicles when the buyer wants to register the motorcycle.

Motorcycle Bill of Sale Frequently Asked Questions

The seller and the buyer must come to an agreement about payment before finalizing the motorcycle bill of sale. Some buyers and sellers opt to use a certified bank check when completing a big purchase like a motorcycle. Other payment methods may be electronic transfers, cash or a standard check. The seller should ensure payment is made before transferring the motorcycle to the buyer. For installment payments, a promissory note could also be used.

In some states, it's required to get the bill of sale notarized, but it's always an option if the seller or buyer wants to make the document even more official. To notarize a document, the parties must find a notary public. This is someone who is authorized by the state to notarize documents.

When a vehicle is sold "as-is," the seller does not offer any warranties or guarantees on the motorcycle with the bill of sale. After the purchase, the seller is not liable for any problems with the motorcycle, such as mechanical or cosmetic. At that point it is the responsibility of the buyer. It's also important for the seller to be honest and upfront about any problems the motorcycle has before committing to the sale.

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