Bike Buying/Selling Information - Page 2

Scorpio · 01-13-2011, 10:00 PM

rofl

DvlRacer · 01-22-2011, 08:20 PM

dudewhrsmybike · 06-27-2012, 07:39 PM

Hey Keith, I actually read this thread before I made my most recent purchase.
There are a few things that are not mentioned in here that I suggest be added to the OP.

1. When buying used, you can use this link to figure out what the standard presumptive value of the motorcycle is...
https://www.txdmv.gov/vehicles/titles...tive_value.htm

When you go to the tax office, you pay 6.25% of 80% of the SPV!

Quote:

If you paid less than the standard presumptive value for your vehicle, you may pay sales taxes on an appraisal amount provided it is certified by a licensed insurance adjuster or a licensed motor vehicle dealer; and obtained within 20 working days of the date of purchase.

2. If someone else fills out the seller information on the back of the title, it is not a mess, it is an EASY fix. You and the titleholder will have to fill out an "Affidavit of Fact" form saying that the deal fell through and you are now buying the bike. You strike a single line through the other person's information on the back of the title and write in yours. THIS form can only be picked up at the tax office!

DvlRacer · 09:39 PM

Quote:

Originally Posted by dudewhrsmybike

Hey Keith, I actually read this thread before I made my most recent purchase.
There are a few things that are not mentioned in here that I suggest be added to the OP.

1. When buying used, you can use this link to figure out what the standard presumptive value of the motorcycle is...
https://www.txdmv.gov/vehicles/titles...tive_value.htm

When you go to the tax office, you pay 6.25% of 80% of the SPV!

2. If someone else fills out the seller information on the back of the title, it is not a mess, it is an EASY fix. You and the titleholder will have to fill out an "Affidavit of Fact" form saying that the deal fell through and you are now buying the bike. You strike a single line through the other person's information on the back of the title and write in yours. THIS form can only be picked up at the tax office!

Good points. Let me add to #1 though; they will tax you 6.25% of 80% of your PSV amount OR 6.25% of what you paid (according to what is on the 130-u). They will also base the date of sale, which is important when it comes to late fees, ONLY from the date on the 130-u, not the date on the title. I'm not going to compel anyone to lie to the tax office but say you purchased your bike for $12,000 and the PSV is 10,000. If you put $5,000 as the sale price on the 130-u you would be taxed 6.25% of $8,000 (80% of PSV) but if you out sale price of $12,000 you would be taxes 6.25% of $12,000.

Disclaimer: I have personally seen people serve prison time for providing fraudulent title application information.

Edit: wtf, just noticed I wrote PSV not SPV, must still have work on my mind

dudewhrsmybike · 06-27-2012, 08:56 PM

Ah. Keith, I overlooked your OP, you did in fact link the SPV page.

As for my #2, I mistakenly wrote seller, but meant buyer....

#2 would be a good addition to the OP as that information is not officially available online through the DMV's site or anywhere else on the webs for that matter. It could save folks some time and hassle.

Keith, 2 weeks ago I actually called you the night I was going to buy my new bike when I found out the buyer info was already filled out on the back of the title.....I didn't know how to get around this, and figured you might know.
Unfortunately, the number I had for you didn't work. D'oh! Ended up buying the bike the next day after getting an answer from calling the tax office.

DvlRacer · 06-27-2012, 09:40 PM

I got a new number, I'll PM it to you so you have it. Been a while dude, hope all is well. Will edit the OP when I get back around to a PC.

dudewhrsmybike · 06-27-2012, 10:00 PM

Quote:

Originally Posted by DvlRacer

I got a new number, I'll PM it to you so you have it. Been a while dude, hope all is well. Will edit the OP when I get back around to a PC.

Got it. All is good on my end. Hope things are going good for you as well.
Thanks for revising the OP....

PlayTookies · 03-23-2015, 05:27 AM

Good Post thanks for the info!

a360891 · 05-16-2015, 01:41 PM

Great info!

Thanks!

TigerGenetics · 11-16-2015, 09:46 PM

This is some great information. I need some advice for my situation.

1. I still owe money from financing on my bike.

2. Buyer and myself have agreed to a selling price.

3. Bike is current with inspection and registration.

4. Selling price is higher than SPV. (so buyer would have to pay 6.25% on selling price, right?)

5. Do separate counties have their own forms that need to filed?

What do I need to do to get this done? There is a good level of trust here. I was wanting to make sure I fill out the appropriate forms, but I have seen some people sell their bike, pay off the bank, then transfer the buyer the title.

Sorry I am extremely new at this.

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01-13-2011, 10:00 PM	#21
Scorpio Twist the Grip, Let'r Rip Join Date: May 2005 Location: Shmearth Feedback Rating: (6) Posts: 12,246 Experience: 10+ years Trackdays: 10+ Bike(s): Honda CRF300L 450x sumo (sold) RC51 (sold) Honda Grom 125(sold)	rofl

06-27-2012, 08:56 PM	#25
dudewhrsmybike BORC Originator Join Date: May 2007 Location: Spring Branch Feedback Rating: (3) Posts: 12,460 Experience: 8 years Trackdays: 10+ Bike(s): 2016 Kawasaki ZX-10R ABS 2017 Kawasaki Z125 2011 Kawasaki ZX-10R ABS (stolen)	Ah. Keith, I overlooked your OP, you did in fact link the SPV page. As for my #2, I mistakenly wrote seller, but meant buyer.... #2 would be a good addition to the OP as that information is not officially available online through the DMV's site or anywhere else on the webs for that matter. It could save folks some time and hassle. Keith, 2 weeks ago I actually called you the night I was going to buy my new bike when I found out the buyer info was already filled out on the back of the title.....I didn't know how to get around this, and figured you might know. Unfortunately, the number I had for you didn't work. D'oh! Ended up buying the bike the next day after getting an answer from calling the tax office.

03-23-2015, 05:27 AM	#28
PlayTookies Senior Member Join Date: Dec 2011 Location: Houston Feedback Rating: (0) Posts: 116 Experience: 10+ years Trackdays: 10+ Bike(s): Kawasaki GPZ 500S (sold) Yamaha FZR 600 (sold) Yamaha R1 2007 (sold) Suzuki M109R 2007 (sold) BMW S1000RR 2012 (sold) Yamaha R1S 2016	Good Post thanks for the info!

05-16-2015, 01:41 PM	#29
a360891 Member Join Date: May 2015 Feedback Rating: (0) Posts: 5	Great info! Thanks!

11-16-2015, 09:46 PM	#30
TigerGenetics Senior Member Join Date: Jul 2012 Location: Pearland, TX Feedback Rating: (2) Posts: 511 Experience: 3 years Bike(s): 2008 Honda CBR600RR	This is some great information. I need some advice for my situation. 1. I still owe money from financing on my bike. 2. Buyer and myself have agreed to a selling price. 3. Bike is current with inspection and registration. 4. Selling price is higher than SPV. (so buyer would have to pay 6.25% on selling price, right?) 5. Do separate counties have their own forms that need to filed? What do I need to do to get this done? There is a good level of trust here. I was wanting to make sure I fill out the appropriate forms, but I have seen some people sell their bike, pay off the bank, then transfer the buyer the title. Sorry I am extremely new at this.