Questions about changing ownership of bike

[Johnny5]

I bought my first ever bike today. I read the sticky here about the steps required to change ownership and plate it but i am still a bit fuzzy at some parts.

Right now i just want to get the ownership changed to my name, it says you must do so in six days. But i don't want to get insurance or plates just yet. So here is my question. Can i just change the ownership over without insurance? And do i need to get it saftied first just to change ownership?

The seller did not provide me with a used vehicle information package, they said they never had one and were not sure what it was. All i got is the little blue paper they had with their info and the bikes info on it. Is that enough to take to the ministry and get it put in my name? or will i need that uvip?

Oh and taxes.. it's an 84 magna. Do i have to pay tax based on what i paid for the bike or the bluebook value? if it's the bluebook value does anyone know an online source for that so i can try to figure out how much tax i will need to pay?

Thanks in advance.

[tricky]

You said you have the vehicle ownership paper? Just bring it to the Service Ontario, they'll issue your new one. You'll have to get the UVIP when you're there, it costs about $20. They'll ask you to write a declaration regarding how much you paid for the bike on it, and you'll pay taxes on that amount - not the "bluebook value". When you're ready to ride, you'll have to get it safetied and insured. Bring that info back to the Service Ontario, and they'll issue your plates right there.

Getting it safetied will be the issue, you'll need to get it towed/transported to the shop, or maybe you can get a temporary trip permit for it.

[Johnny5]

Thanks tricky that answers all my questions

As for saftied i read on here that Ted from Rosey Toes will make house calls and do it in my driveway. The person i bought the bike from had him do it that way 2 years ago when they bought it as well. The seller rode the bike 30 miles today to my house to deliver it for me so it seems to be in good condition and running well. fingers crossed...

[tricky]

No worries, I've had to go through it all a few times It'd be good if Ted could do the house call, it would save you a big hassle.

When you've got it all ready to ride, give me a shout if you want to meet up.

[Ninjitsu]

Congrats on your new bike!

I also bought my first bike on Saturday. I bought it safetied and have a question about plates/ownership/insurance. I want to take advantage of the safety and get the bike plated but I don't want to put it on the road yet. Can I get plates with fire and theft insurance only? Will an insurance company give me fire and theft only until I'm ready to put in on the road next spring?

This might be a better question for the insurance forum but thought I'd ask here first.

[DemonPig]

And don't worry about 6 days. That's what it says but a year later will do, too. I have never had any problems with switching ownership later, nor do I know of anyone who has.

[rideitlikeyoustoleit]

You said you have the vehicle ownership paper? Just bring it to the Service Ontario, they'll issue your new one. You'll have to get the UVIP when you're there, it costs about $20. They'll ask you to write a declaration regarding how much you paid for the bike on it, and you'll pay taxes on that amount - not the "bluebook value". When you're ready to ride, you'll have to get it safetied and insured. Bring that info back to the Service Ontario, and they'll issue your plates right there.

Getting it safetied will be the issue, you'll need to get it towed/transported to the shop, or maybe you can get a temporary trip permit for it.

I don't know about you but I couldn't get a temporary permit because it wasn't safetied when I registered it. So therefore it was deemed 'unfit'.

[rideitlikeyoustoleit]

Congrats on your new bike!

I also bought my first bike on Saturday. I bought it safetied and have a question about plates/ownership/insurance. I want to take advantage of the safety and get the bike plated but I don't want to put it on the road yet. Can I get plates with fire and theft insurance only? Will an insurance company give me fire and theft only until I'm ready to put in on the road next spring?

This might be a better question for the insurance forum but thought I'd ask here first.

I don't know of any companies that just do fire and theft insurance. Check the threads, there was a discussion about this.

[jeero]

You can only get a temp permit on it if you register to your name and ask for that temp permit right then and there. If you have a car your bike falls under its insurance policy for 14 days (this was discussed on another thread).
If you just change owners then it's classed as unfit and to stay within the boundaries of legal, you'll have to tow/haul it to a shop, or have a shop guy come to you.

Then you take the safety certificate and your insurance policy number for the bike and get your plates/sticker.

The 6 days thing is not a big deal.

[luujerr]

You said you have the vehicle ownership paper? Just bring it to the Service Ontario, they'll issue your new one. You'll have to get the UVIP when you're there, it costs about $20. They'll ask you to write a declaration regarding how much you paid for the bike on it, and you'll pay taxes on that amount - not the "bluebook value". When you're ready to ride, you'll have to get it safetied and insured. Bring that info back to the Service Ontario, and they'll issue your plates right there.

Getting it safetied will be the issue, you'll need to get it towed/transported to the shop, or maybe you can get a temporary trip permit for it.

what taxes do we pay in ontario for a motorcycle? the 13%? any other taxes?

[tricky]

what taxes do we pay in ontario for a motorcycle? the 13%? any other taxes?

I think so. I paid just under $4000 for my bike and paid around $600 in taxes, so it seems about right

[CLJ]

I am also confused about the tax situation. On the MTO website it says there is no red book value for used motorcycles, so the value is based upon the 'wholesale value' of the bike. What does this mean?

[Hachi-Roku]

I am also confused about the tax situation. On the MTO website it says there is no red book value for used motorcycles, so the value is based upon the 'wholesale value' of the bike. What does this mean?

Tax based on amount declared on Bill of Sale

[luujerr]

Tax based on amount declared on Bill of Sale

So say you bought a bike for $4000. But on the bill of sale you wrote $3000 (seller is aware). What are the consequences?

[Hachi-Roku]

So say you bought a bike for $4000. But on the bill of sale you wrote $3000 (seller is aware). What are the consequences?

Same as if you buy the bike for $4000 but show a bill of sale stating $2000

You pay the tax on the amount declared on the Bill of sale

[Cat13]

Technically its fraud.... So whatever the consequences of that are. But if you choose to do it, make sure the seller is aware.

[CLJ]

Tax based on amount declared on Bill of Sale

Thanks!

[Lyndsay]

On older bikes (actually all older vehicles) where sufficient information is not available for them to properly assess the value, they are supposed to make you go and get it assessed. I got burned on that with my '83 and had to go back to the guy doing the safety and he wrote me up an assessment even though he wasn't a licensed dealer. They accepted it at the local MTO and all was good. That's out in the country however, your experience may vary.

[Dahulk]

I don't know about you but I couldn't get a temporary permit because it wasn't safetied when I registered it. So therefore it was deemed 'unfit'.

That is incorrect I got a temp permit to take my bike to get the safety certification done. As long as you have insurance the MTO will use you a plate with a T sticker which is a temp for 15 days.