When selling motorcycle in North Carolina, many options are available to you. You can do so online, through a dealership or by advertising through newspapers. What is always required is that you fulfill certain requirements, the most important of which is regarding title transfer. You must make the motorcycle title available to the buyer and if the title is missing you will have to apply for a duplicate title before accepting any financial transaction. Then you will have to assist the purchaser in the process of title transfer by filling out the information on the backside of the title.
This will contain the buyer’s name and address, date of sale and odometer reading. Next, the seller must hand print his name and sign the title in the presence of a notary. You are not required to hand over the registration as well, only the title. The buyer can then carry on with the procedure of obtaining a new registration and title transfer himself.
Sellers are also required to furnish a Bill of Sale that will act as a proof that you sold the motorcycle for a particular price on a specific date. It also gives information on the seller’s name, address, driving license number, phone numbers, motorcycle model and make, and vehicle identification number. Odometer disclosure statement also has to be filled out as long as the motorcycle is less than ten years old.
You have the option of transferring your license plate to your new vehicle if you want; if not then visit your local Vehicle and License Plate Renewal office and turn it in. As the state of North Carolina requires motorcyclists to have continuous insurance coverage as long as they have a valid license plate, you will have to turn in the plates before you cancel your liability coverage.
As a seller you would want to obtain a lucrative price for your motorcycle. You can do so by convincing the buyer that the asked price is reasonable enough by ordering a motorcycle history report. This is the most reliable form of history check for the buyers and the information contained will disclose the real amount of damage, odometer readings and title checks.