What do i need to do to sell a bike in Maryland?
01-07-2009, 12:50 PM
#1
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What do i need to do to sell a bike in Maryland? I am about to sell my 07 Yamaha R1. Questions are: What do I need to do to transfer the title? Is this a one day turn around? And what is the estimated cost of this transaction. Thanks in advance.
01-07-2009, 02:12 PM
#2
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Well, in PA at least:
1. Get the money from the buyer.
2. You then take the vehicle title, with buyer in tow, to your local notary public and have them assist with the title transfer. Make sure you both have ID (driver's licenses). You need to declare how much the seller has paid for the bike to the notary (they will take your word on this) so that the buyer can pay the appropriate state sales tax.
3. The buyer will also need to pay title and transfer fees. He/she gets a temp registration and tag so the bike can be on the road immediately (provided he/she has proof of insurance).
4. Make sure to contact your insurance agent and have the bike removed from your policy.
Unless you've agreed otherwise, the whole thing shouldn't cost you a red cent. Again, this is the process in another state.
1. Get the money from the buyer.
2. You then take the vehicle title, with buyer in tow, to your local notary public and have them assist with the title transfer. Make sure you both have ID (driver's licenses). You need to declare how much the seller has paid for the bike to the notary (they will take your word on this) so that the buyer can pay the appropriate state sales tax.
3. The buyer will also need to pay title and transfer fees. He/she gets a temp registration and tag so the bike can be on the road immediately (provided he/she has proof of insurance).
4. Make sure to contact your insurance agent and have the bike removed from your policy.
Unless you've agreed otherwise, the whole thing shouldn't cost you a red cent. Again, this is the process in another state.
01-09-2009, 06:58 PM
#7
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Well, in PA at least:
1. Get the money from the buyer.
2. You then take the vehicle title, with buyer in tow, to your local notary public and have them assist with the title transfer. Make sure you both have ID (driver's licenses). You need to declare how much the seller has paid for the bike to the notary (they will take your word on this) so that the buyer can pay the appropriate state sales tax.
3. The buyer will also need to pay title and transfer fees. He/she gets a temp registration and tag so the bike can be on the road immediately (provided he/she has proof of insurance).
4. Make sure to contact your insurance agent and have the bike removed from your policy.
Unless you've agreed otherwise, the whole thing shouldn't cost you a red cent. Again, this is the process in another state.
1. Get the money from the buyer.
2. You then take the vehicle title, with buyer in tow, to your local notary public and have them assist with the title transfer. Make sure you both have ID (driver's licenses). You need to declare how much the seller has paid for the bike to the notary (they will take your word on this) so that the buyer can pay the appropriate state sales tax.
3. The buyer will also need to pay title and transfer fees. He/she gets a temp registration and tag so the bike can be on the road immediately (provided he/she has proof of insurance).
4. Make sure to contact your insurance agent and have the bike removed from your policy.
Unless you've agreed otherwise, the whole thing shouldn't cost you a red cent. Again, this is the process in another state.
