Looking at a bike that the seller never had put in his name. His mother said no bikes while he's under her roof. He has a bill of sale from the original seller, and the ownership. He paid $2500 and now wants $1500. He bought it last month. Is this going to be a problem to register? Will I have to pay taxes on $2500 and $1500. Any advice welcome. Thanks
Seller never reregistered.
- Thread starter oldrider
- Start date
Get the contact info for the original owner, to make sure it's on the up and up.
It won't be an issue, as long as the ownership is signed by the previous owner.
Seller has to provide you with a UVIP, if he won't do so you can usually get yourself for 20$ at any MTO office, all you need is the VIN#.
The last page of the UVIP is a bill of sale, mark down whatever price you paid for the bike and that's what you'll be paying taxes on.
If it's a good deal, go for it. Nothing to lose.
Seller has to provide you with a UVIP, if he won't do so you can usually get yourself for 20$ at any MTO office, all you need is the VIN#.
The last page of the UVIP is a bill of sale, mark down whatever price you paid for the bike and that's what you'll be paying taxes on.
If it's a good deal, go for it. Nothing to lose.
If the Govies do a price check they will likely go to the last registered owner and he will say $2500. Keep all your paperwork to show otherwise.
Not a problem just did this last week, and it was over a month between the sales...More like a year....Just be nice to the MTO people, and if they give you a problem leave and try a next clerk....Ive had some tell me I cant do something, just to walk over the the next clerk or another MTO and have it done no questions asked...
I once had a stupid clerk tell me Id have to go back to drive all the way back Kitchener and have the ownership resigned because the person used a light blue pen, not dark blue....Next guy didnt say a word about it
I once had a stupid clerk tell me Id have to go back to drive all the way back Kitchener and have the ownership resigned because the person used a light blue pen, not dark blue....Next guy didnt say a word about it
And forge the previous owners signature
The bill of sale has to be no older than X amount of days from the day you go to switch the registration.
If you want to save a lot of headaches, put $2,500 for the purchase price
-Jamie M.
Thanks all. The bike isn't really a real deal, as the kid payed toooo much, but it is 10 mins away. Getting sick of driving all over the place looking at bikes that aren't "quite" as good as described. Saw it this morning and it has a little rash and the odd crack. Think I'll pass. No shortage of low km cbr 125's around. Thanks for the help. I appreciate it.
Dresden
Well-known member
I had the exact same situation (mirror actually) when I bought mine. The ministry asked us both to be present when they registered it to me. He had to povide a bill of sale from the previous owner to him, and then the bill of sale onto me. Wasn't a big deal, just a bit of a hassle.
ayahsoo
Active member
you can either:
1. have the new owner complete the transaction and have the bike transfered to his name, THEN he transfers the vehicle to you.
The implications of this is that he will need to pay the taxes on the $2500.00 plus purchase the used vehicle package.
You would then only pay taxes on the $1500
OR
2. transfer the vehicle directly from the previous owner to you.(the signed transfer should be enough)
The implications that you pay taxes on the $2500.00
Reccommend at least confirm the original transaction with the previous owner is you opt for option 2.
1. have the new owner complete the transaction and have the bike transfered to his name, THEN he transfers the vehicle to you.
The implications of this is that he will need to pay the taxes on the $2500.00 plus purchase the used vehicle package.
You would then only pay taxes on the $1500
OR
2. transfer the vehicle directly from the previous owner to you.(the signed transfer should be enough)
The implications that you pay taxes on the $2500.00
Reccommend at least confirm the original transaction with the previous owner is you opt for option 2.
HAHA you beat me too it, and it's actually better if there is no signature on the ownership, write up your own bills of sales and your good to go, at least that's what the lady at the Mto told me to do
How do you figure?!
Prince
Banned
Kid bought the bike with no UVIP.
So?...You can still transfer it, ride it and enjoy it even with a lien registered, and IF there is a lien, it could of been long paid and was never released on the MTO records.
And it's a cbr125, unless it was financed from the showroom floor and haven't been paid off yet, how much of a loan can you really take out on a cheap bike like that?
Doubt that's the case, according to the OP the seller's mother wasn't too pleased her son was planning on riding, which makes more sense to me.
And it's a cbr125, unless it was financed from the showroom floor and haven't been paid off yet, how much of a loan can you really take out on a cheap bike like that?
Doubt that's the case, according to the OP the seller's mother wasn't too pleased her son was planning on riding, which makes more sense to me.
Prince
Banned
Kids can't go through due process. They want something, and in any reckless fashion they'll get it. Perhaps he went to transfer it into his name only to find out there was a lien on the bike that he can't afford to clear. Why is he selling the bike for $1000 less? Guilt? Wants to pass this problem onto someone else? It's quite likely!
silverbullet132
Well-known member
Did this before, on a 94 GSXR 750. Guy I bought it from imported it from Ohio, never registered, then sold it to me. When you go to the MTO, bring the paperwork he got when he bought the bike + the paperwork you get (bill of sale from him to you etc) and you will be fine. As far as the tax goes, it is paid on whatever amount you declare to the MTO. In my case, I put down $5 (import document declared $1000) and it was no issue.
ayahsoo
Active member
Just got another email. Story changed a bit. Now he claims he actually traded it for a dirt bike he had. Ya gotta love kids.
so his original story was that his Mom restricted him from having a motorcycle, now he had a dirt bike which traded.. hmmmmm
??move on.. there's always another bike..
Make sure you go to the ministry and make some sort of a statement to the effect that the bike isn't yours and that it was sold to such-and-such. A relative of mine got into some hot water because a secondary buyer never transferred the ownership and then was involved in a hit and run.
