Free Motorcycle Bill of Sale Forms
Motorcycles are not cheap, so it is wise to have a bill of sale when buying or selling one. A motorcycle bill of sale is proof that the transaction happened and it was done legally. Plus, a notarized bill of sale and the motorcycle’s title are required when registering a new motor vehicle.
What Is a Motorcycle Bill of Sale?
A motorcycle bill of sale is a type of motor vehicle bill of sale. It is a legal document that provides information regarding a bike transaction. It is considered a more formal version of a receipt, which is necessary after a buyer purchases the item.
The document is also important paperwork that allows the new owner to register the motorcycle under their name, along with the bike’s title. It has to be as detailed as possible to identify the motorcycle. Once notarized, the motorcycle bill of sale becomes legal proof of the purchase.
How to Write a Motorcycle Bill of Sale
Not all states require a motorcycle bill of sale as proof of transaction, but it’s a good idea to have one anyway. Here are the steps in writing a motorcycle bill of sale:
1. Download a motorcycle bill of sale template
Download a motorcycle bill of sale for your convenience. It’s a pre-made bill of sale with all the necessary legalese written in the form. The templates have spaces where you can input specific details of your transaction.
2. Fill out transaction details
Complete the form with your transaction details. The top part of the motorcycle bill of sale will ask for the transaction date which is the day the buyer and seller decide to complete the deal. The first section is for the parties involved, which means you write down the names of the buyer and seller as well as their respective mailing addresses.
Other important details in the motorcycle bill of sale are:
- Purchase price
- Terms of payment
- Make of the motorcycle
- Model
- Vehicle identification number
- Color
- Odometer reading
- Manufacture year
3. Sign the motorcycle bill of sale form
Both parties must read the motorcycle bill of sale form and its details before affixing their signatures. Signing the document means they have agreed to all of its contents. The buyer and seller must write their printed names, signatures, and date of signing.
4. Have the document acknowledged by a notary public
Not all states require the notarization of documents. However, getting your motorcycle bill of sale notarized adds legitimacy to the contract. It also becomes legal proof of purchase.
5. Provide copies to the buyer and seller
Both parties must have at least one copy of the motorcycle bill of sale. The buyer needs it as a receipt and proof of purchase. The bill of sale is also necessary when the buyer registers the vehicle as their own. On the other hand, the bill of sale will protect the seller in case the vehicle becomes involved in legal proceedings.
There are several ways to buy or sell a motorcycle. You can do so in a dealership, or you can advertise through social media and online channels.
The following are the general steps in selling a motorcycle:
1. Prepare the motorcycle for sale
Clean the motorcycle. It must be in the best condition possible even if you are selling a second-hand bike. Allow a licensed mechanic to test-drive the motorcycle to ensure it is running and operating well. Aesthetics are important too. Wax the motorcycle so it looks brand new. Taking these extra steps will allow you to fetch the best price possible for your motorbike.
2. Take good photos
You need to advertise the item for sale so it will reach a large audience. Post photos and details of your vehicle on social media so you can let people know it’s being sold.
3. Set the price
Make sure your price is competitive: not too high and not too low. You should also set a minimum bargaining price in preparation for potential buyers who might haggle for a lower price.
4. List the motorcycle in online marketplaces
Websites like eBay, CraigsList, AutoTrader, and other online buy-and-sell channels will help you reach a larger audience. This way, you can find the best buyer for your bike.
5. Communicate and meet with potential buyers
It’s best to communicate with a potential buyer before making a definite decision. This way, you can have a feel for the new owner and determine if your bike will be in good hands. Talk about the motorcycle and be honest about its details. Discuss the price and terms of payment.
6. Prepare paperwork
When you and a buyer have agreed on the terms of your transaction, you can start preparing the bill of sale, along with other essential documents, such as the identification of the buyer and the title of the bike.