New Jersey being one of the biggest states is home to millions of vehicles. The State of New Jersey Motor Vehicle Commission (MVC) regulates the registration and titling of these vehicles, issuance of driver licenses, etc. The MVC also regulates the step-by-step procedure when selling your vehicle in New Jersey. Buying and selling of a vehicle like motorcycle is not a private affair; it needs to be notified to the state, in order for the transaction between the seller and the buyer to be considered legal in New Jersey.
If you are selling your motorcycle in New Jersey, there are certain legal formalities that you need to go through for the transaction to be considered legal in the state. It is advised that you transfer your vehicle’s ownership at any Motor Vehicle Commission’s (MVC) Agency. This will ensure proper transfer of documents and may help you avoid unnecessary penalties.
As a seller you must:
- Remove the plates from your motorcycle. The buyer cannot use these plates. You can either transfer these plates to another vehicle of yours or surrender them at any MVC Agency or Regional Service Center.
- Sign the reverse side of the title and give the same to the buyer with sale price, mileage odometer reading, date of sale and the buyer’s name and address
Remember, the title must transfer within 10 working days of the date of sale otherwise $25 penalty will be incurred by you.
Selling motorcycle in New Jersey also requires the buyer to go through certain legal formalities for the transaction to be considered legal. Therefore, the buyer must do the following:
- Sign the back of the title and insert the driver license number
- Visit the local MVC Agency to transfer title, receive plates and complete registration
- Bring the proof of sales tax payment, insurance and signed title
- Pay $60 fee
Your vehicle may be exempt from sales tax if the sales tax form indicates that the vehicle is a gift. There are no other exceptions to the rule however.