Wanting to acquire a motorcycle or a scooter? Like every other purchase, you will need proof of purchase. It is this role that the bill of sale for moped endeavors to play. Other than vouching for your purchase of a scooter, this document is also necessary for registration with the department of motor vehicles.
TIP: When purchasing on credit or hire purchase, the rules of the game differ slightly. In either case, you will have to pay some deposit upfront. Thereafter, you will inspect the moped. If you are satisfied with its condition, you will settle the outstanding amount on the agreed date of sale.
Do you need a bill of sale for a moped?
By all means, you do! As stated above, it is this document that acts as proof that you indeed purchased the scooter. Failure to possess it might put you in a compromising situation. Moreover, you might not even be able to register your scooter with the department of motor vehicles.
What should be included in “Moped Bill of Sale”?
A typical “Moped Bill of Sale” contains the following issues:
Date of Sale
This refers to the exact date the moped is to change hands. If buying on hire purchase or credit, this date is the one in which the last installment is remitted.
Buyer’s Name and Address
You as a buyer have to indicate who you are and where you permanently reside. This information is also contained in this document. It mainly facilitates tracking and settlement of the transactions.
Seller’s Name and Address
Even the seller has to surrender his details to this document. In many cases, this piece of information comes in handy whenever there is some issue with the scooter.
Now, this is the crux of this document. This segment showcases all the details of the scooter. These details uniquely separate one scooter from another. They allow for easy tracking and compensation if need be.
- Motor (cc)– It is the motor that generates the torque which propels the scooter forwards. Under this parameter, the information shall touch on the horsepower capacity and power output.
- Model – Apart from the make, the model also brings out some uniqueness from one scooter to another. Unlike the make, it is showcased in terms of brand name, rather than engine capacity.
- Year – The year in this sense is the time when the scooter was officially manufactured. It gives a rough picture of how strong the scooter is and how long it may last.
- Color – Color is the hue which adorns the exterior of the scooter. If the exact color is not to your liking, you have the leeway to ask for its replacement.
- Registration Number – Obviously, the manufacturer has to assign a unique number to each scooter it produces. This is called the registration number. You want to ask the manufacturer for appropriate confirmation.
- Vehicle Identification Number (VIN) – In case the moped you are interested in had already been owned, it must bear a registration number. For your safety, you want to counter check this detail with the department of motor vehicles.
- Odometer Reading – An odometer measures the distance traveled by the vehicle in its whole lifetime. It also gives you a rough clue of just how old the scooter could be and for how long you might use it.
- Condition – Condition is an executive summary of the state of the scooter. Basically, it showcases how the scooter appears, its overall quality and working order.
- Other Relevant Details – Under this are those tiny details which may give further clarifications on the ones we have already discussed above.
The purchase price is the amount of money which you part within exchange for the scooter. Many a time, this is just a rough quote and may be revised upwards or downwards.
Date of Payment
This is when exactly you intend to pay the full amount of purchase. It is the one that is deemed as the official time when you purchased the moped.
As stated above, it is possible for you to purchase the moped-on hire purchase or credit. In this case, you have to pay some amount of money upfront and settle the outstanding balance with time. This is what is called a security deposit.
Immediately after the receipt of merchandise, you the buyer enjoys an inspection period. This is basically an interval of time in which you are allowed to examine and evaluate the merchandise. The aim is to see to it that it is up to standards.
Signatures and Dates from the Buyer, Seller, and any Witnesses
Lastly, come the respective signatures and dates. These belong to the witnesses, seller, and buyer. They are proof that the transaction indeed occurred and was affected by you.
PS: As an added precaution, you may want the document to be notarized by a public notary. In the unlikely event of litigation, this extra feature might help you in fighting those legal battles.
Free moped bill of sale forms
You now have what it takes to make a safe and enduring purchase. There is, therefore, no excuse left. All that you have to do is follow the guidelines above to the latter. We are always happy when persons of your kind prosper.