buying a used bike, stuff to take care of - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 7 (permalink) Old 09-21-2005, 08:58 PM Thread Starter
Join Date: Jul 2005
Posts: 47
buying a used bike, stuff to take care of

So I found a used sv650s 03', checked it out last night, has what i'm looking for

2003 SV650S, silver, 6100 miles, very clean, garaged, and in excellent condition $4300

- Racetech .90 springs
- Racetech emulators
- GSXR1000 rear shock
- Convertibars adjustable clip-ons
- stainless Galfer front brake lines
- Motosliders frame sliders
- Swingarm sliders
- Dual Fiamm horns (with relay)
- Headlight modulator
- Silverstars headlights
- Fender eliminator (racinteach)
Great bike, everything looks and works perfect. Im selling because I am moving to a GSXR.

Some nice extra's on there. He used to ride dirtbikes as a kid, got back into riding so he got this sv650. He does lots of canyon runs so with friends so he's stepping up to a gsxr.

Anyways, what all do I need to take care of when it comes to buying a bike?
Changing the title over in my name
registration at the dmv. (I have to pay a % of tax on however much I buy it for right? he brought up the idea that we tell them I buy it for a small price to keep the tax low)

I'm planning on giving him a holding cheque tomorrow so it will be held until sunday. I chose sunday because thats when I finish MSF so I know for sure or not that I'll be getting my license within 10 days. My idea was to have him drive teh bike and park it in my garage and leave it there until I get my license.

So besides signing over hte title and registration, getting the bike insured and getting my license. What else do I have to do to make this bike mine?
Suavedg is offline  
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post #2 of 7 (permalink) Old 09-22-2005, 05:07 AM
Join Date: Mar 2004
Posts: 8,798
Thats pretty much it. Title, reg, insurance. In cali, you might have to pass a smog test.
The lower price idea only works if you are not financing the purchase, or if you are taking a personal loan. If the bank is a lien holder, it will show the buying price to the DMV...

Vash is offline  
post #3 of 7 (permalink) Old 09-22-2005, 10:05 AM Thread Starter
Join Date: Jul 2005
Posts: 47
I'm gonna be buying the bike off this guy in cash.

so does that make a difference?
Suavedg is offline  
post #4 of 7 (permalink) Old 09-22-2005, 10:07 AM
Join Date: Mar 2004
Posts: 8,798
In that case I'd just report the price as 500... any less than that and they arent going to buy it...

Vash is offline  
post #5 of 7 (permalink) Old 09-22-2005, 04:47 PM
Join Date: Jul 2005
Posts: 45
I would not suggest to cheat on your sales tax. It is not only immoral, but it is for your own protection. YOu should write a bill of sale. In the bill, you should state his name, address, driving lincense number, VIN number, and the purchase price. It should be notarized, or has two witness signed on it.
In case of something go wrong, like if the bike has a lien or it was stolen...etc, the bill of sale will prove your rights, and how much you paid him.
JohnE1000 is offline  
post #6 of 7 (permalink) Old 09-29-2005, 08:23 AM
Join Date: Sep 2005
Posts: 42
The guy he is buying the bike from would not have the title if there was a lein on the bike. As far as the sales tax goes I say cheat all you want. i think taxes should only have to be paid once when you buy the bike new. It is just another way for the government to get their hands on kmy hard earned cash. Oh, by the way, make sure the dude has the title and you have insurance for the bike before you go and get the title transfered.
Atown313 is offline  
post #7 of 7 (permalink) Old 09-29-2005, 10:43 AM
Join Date: Aug 2005
Posts: 154
I'm with Atown on the sales tax BS. But don't put too small a number in MI they can charge you "use tax" on the market value rather than the sales price if they smell a rat.

Once it's yours, I'd suggest doing an oil & filter change, oil the chain, wash & wax, etc. Then start a maintenance log book showing the date/mileage of any repairs, maintenance, modifications, etc. Nothing fancy, just a $0.79 3x5 pad is plenty (although I keep mine in Excel). It just helps you keep on top of the maintenance. Rather than trying to remember if you changed the fork oil last year or the year before, you can just look it up.

Since it sounds like you're a new rider also keep up your situational awareness while riding. Just imagine that all those [email protected]$tards in cars are out to get you and don't let 'em!

Enjoy your new bike!
shasta mcnasty is offline  
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