What are some of the gory details I should plan for when buying a used 1990s vintage Wing from a private party? Assume I have already checked the bike, and the local Honda mechanic has checked the bike, and everyone has agreed to the selling price. Here in Virginia, I assume the title gets autographed when the bike changes owners, and I'll need to go to DMV for new plates. Should I also be doing some sort of DMV check to make sure the bike is not stolen? Should I create some sort of no frills bill of sale that both parties sign and date? Does either party get stuck with paying sales tax? Any other important paperwork? Thanks.
No DMV check for a stolen bike is needed if you have the title. Having possession of both the title and the bike is nearly air tight.
In VA, a vehicle title also serves as the applicaiton for a new title and tags.
The seller must sign the title in the appropriate places, depending on which state the title is registered. Assuming there are no liens and he has the title free and clear, in VA, there are two places, IIRC - (1) front side, bottom 1/3 and (2) backside, attesting to the mileage accuracy.
He can leave the selling price empty for you to fill in, but even if put $1, DMV-VA will charge a minimum price of at least $35 in state sales tax. If, however, the selling price is well below book, make sure you get a signed bill of sale, stating the price. That will override what is pencilled in on the title. Otherwise, their pricing database may override what is pencilled in on the title.
Assuming you are paying a reasonable price, be prepared to fork over $200 for sales tax, new title, and new tags. Also - and this is important - somewhere on the title (which is also an application form), you attest to the fact that you have the vehicle properly insured. You may want to do that right upon buying the bike and have the ins co send you or allow you to dload a temp ins card, which you may need to register the bike in VA (most times not, though).
Oh yeah, if the title showsd more than one owner, make sure all owners sign the title in the appropriate boxes. One more thing... VA titles have a place to print the seller's name and a place to sign it. make sure the seller doesn't get it backwards
Good luck and congrats on your new bike!
Greg
