Market value when registering bike?
i just bought a 2000 Kawazaki Ninja 9 from a private party and i have sum question about registering this baby.
i'm in Los Angeles CA. i got the Certificate of Title and Bill of Sale from him. however, i see that right under the certificate of title, it says "NOT ELIGIBLE FOR PLATES - NO TAX PAID" and the form is from the state of Michigan. So it doesnt have a license plate right now.
the Issue Date says 10/11/01 and under ODOMETER it says 001019 and under that it says *ACTUAL MILEAGE*. (the current mileage is 4412.)
under the Title Assignment by Seller, there's ONLY the signature of seller and printed name of seller. (TBS Business Services, Inc.)
on the Bill of Sale, the date says November 8, 2001, and the space for the name and price is left blank for me to sign.
At the bottom of the page, it is signed by TBS Business Services, Kellie Volpicelli, Recovery Representative. (the guy who sold it to me said it's a repo).
He said he purchased it from Hyperformance(?) in Garden Grove (which is in CA) and these two forms are what they gave him. they told him he'll have no problem registering. he never actually registered the bike.
so my questions are:
1. is this a 49-state bike? how do i know?
2. since the box for purchase price is left empty, i could say i got it as a gift, right? but it says if i got it as a gift put the market value. what should i put? i mean, i know how to find out the market value but should i put the actual market value? (i paid $6150)
3. i ask question #2 cuz on the certificate of title, it says no tax paid. does this mean i have to pay tax (for the market value)?
sorry for the long post, but if you have any knowledge about this, PLEASE help me out. i dont want to go to the DMV and find out i have to pay several hundred dollars on tax.
Last edited by beksa; 08-10-2002 at 01:03 AM.