Documentation is needed for every form of exchange between a buyer and seller. From a seller’s perspective, sales documents can double as your records for posterity’s sake, and as a buyer, you’ll always need evidence of purchase once you’ve completed a transaction.
Usually, a bill of sale form is issued to a buyer by a seller for an exchanged product, but when it comes to buying and selling a moped or scooter, a bill of sale form for a moped or scooter is the preferable option.
A moped or scooter bill of sale form is a legal document used to seal the exchange of a two-wheel vehicle between an owner (seller) and a buyer. Usually, this exchange is done for a monetary value, and the amount and other necessary information are included in the document.
In this article, we’ll discuss a moped bill of sale, why you should have one for your moped/scooter sale, and how to create one in just a few steps.
What is a Moped Bill of Sale?
A moped bill of sale is a legal document that binds the agreement between a buyer and seller after exchanging a moped upon an agreed price. The agreement highlights all the sale details, including the vehicle information, inspection date, purchase cost, payment terms, date of sale, etc.
Generally, the document is proof of the transaction, preventing illegal deals and eliminating complications about ownership and other fraudulent activities.
In other words, a moped bill of sale represents the exchange of money and a moped between both parties. And for security reasons, the buyer should meet the seller to inspect the vehicle before sending funds. The seller should also get a deposit from the buyer. But both should agree to a future date of sale at this time.
It’s also imperative that the seller clearly states that the buyer will get the moped in “as-is” condition regardless of any defects, repairs, or maintenance issues after the sale. The buyer will be liable for any issues with the two-wheeled vehicle after purchasing it.
Though a bill of sale is not a mandatory requirement to register the vehicle, it establishes and documents the agreement, protects the seller from any futuristic liabilities, and can be referenced in the future. It also helps assure the buyer that the seller is the legitimate owner of the vehicle and that the sale is legal.
When Is It Needed?
As earlier stated, a moped bill of sale form is needed when buying or selling a moped. It serves as a form of receipt for the buyer, proof of ownership, and legal protection from liabilities for the seller after the sale has been completed.
Buying and selling a moped is easy, especially if both parties are familiar or related. However, not having a legal contract for the sale can be risky because of security reasons and potential issues that may arise in the future.
For example, if the seller returns with false claims, the buyer can counter with the bill of sale form because it contains all the transaction details. Also, most states make moped registration mandatory in the United States and expect the owner to have a driver’s license. So, if the buyer rides the moped and violates a state or federal law, the seller can be exempted by showing new ownership with a bill of sale.
Bonus Tip: If you don’t possess a moped bill of sale form, you might be in a compromising situation. Moreover, you may not be able to register your scooter with the department of motor vehicles without the agreement document.
Moped vs. Scooter
Moped and scooters are very similar in looks; sometimes, people use one to describe the other. While it might be challenging to differentiate between both vehicles because of their two wheels, the significant difference lies in their speed.
A moped has a 50 cubic centimeter (cc) engine and a top speed of 28mph – 30mph (48kph), while scooters come in different sizes and speeds. For example, you’ll find a 150cc-engine scooter with speeds as high as 60mph – 70mph.
Note that if a bike has a platform for riders to place their legs, what you have is a scooter. But some mopeds have foot pedals for riders to stand like bicycles when parked. Scooters are also more generally expensive than mopeds.
To eliminate confusion, we’re using both terms interchangeably in this article.
Moped Bill of Sale Glossary
After a moped sale agreement has been reached and the deal is finalized, filling out the purchase agreement is essential, and this is where the moped bill of sale form comes in.
The essential information to include are:
Date of sale
The transaction date should be clearly stated on the agreement document. This is the final date of the exchange and not when negotiations started. Usually, in the United States, the MM/DD/YYYY format is preferable.
Seller’s name and address
The seller should include the required information, such as their name, address, and contact details. Include your street, city of residence, state, postal code, telephone number, and email address.
Buyer’s name and address
Similarly, the buyer should write out their full name, detailed address, and other contact information on the bill of sale. As a buyer, it’s advisable to do this to avoid spelling errors or omissions. And this section should include the street, city of residence, state, postal code, telephone number, and email address.
Moped details
In this section, the seller should describe the scooter or moped they’re about to sell. Including information like:
- Motor: the moped/scooter engine capacity.
- Make: the vehicle’s brand name.
- Year: the moped or scooter’s year of manufacture.
- Model: the specific model of the vehicle by the brand mentioned above.
- Color: the motor’s painting.
- VIN: the Vehicle Identification Number as stated by the manufacturer. This includes a unique code and serial number.
- Registration number: the vehicle registration number as in the state vehicle records.
- Odometer reading: the miles or kilometers the moped or scooter has traveled. The actual mileage should be written in mph if in the United States.
- Condition: the seller must state the present state of the motorcycle. For example, is it in good working condition? Are there any fixes to be made? Etc.
- Relevant details: other necessary information. For example, if there is a dent or damage, it must be clearly stated.
Purchase price
Enter the total agreed amount of the transaction and how the buyer wishes to pay for the moped. The specific date of sale should also be repeated in this section.
Purchase method
This section highlights how the buyer wishes to pay for the moped in detail, whether cash, check, cashier’s check, or money order. It should be clearly stated if both parties agree to a payment plan. Here are the possible options:
One-time transaction
With this payment option, the buyer pays the total sum of the moped’s price to the seller on the same day they complete the transaction. In essence, the moped changes hands on the same day.
Trade-in
This plan involves the buyer offering the seller another vehicle in exchange for the moped. The seller will evaluate the price of the traded vehicle, and if it’s lower, the buyer will add some money to complete the transaction. The details of the buyer’s swapped vehicle should also be included in the moped bill of sale.
Installments
Sometimes, a seller may agree to installment payments from the purchaser. For this payment method, the details of the payment plan, the dates, tenure, and the amounts should be clearly stated in the document. Usually, the buyer will need to provide the initial payment installment as well.
Gift with no consideration
If the seller gives out the moped to someone else as a gift, a moped bill of sale should still be used to state the exchange. In addition, it should be added that the seller expects no form of payment from the buyer.
Date of payment
The date(s) should be stated depending on the payment. For example, a one-time payment is straightforward, while other plans must be agreed upon accordingly.
Security deposit
Generally, the buyer can be asked to pay a security deposit. The amount and payment date should also be stated.
Inspection period
If the buyer has to take the moped away for a brief inspection and the seller agrees to it, then the inspection period must be stated in the moped bill of sale.
Signatures and dates
For a bill of sale to be legally binding, it must be signed by both the seller and buyer. The same rule of thumb applies to a moped bill of sale form. The signature is proof that both parties have read all the highlighted details and agreed to the stated terms because they are authentic, accurate, and complete. Both parties can also sign along with witnesses.
This section further has an “as-is” clause stating that the buyer is purchasing the moped without a warranty and will be liable for it going forward.
Notarization
Though it’s not mandatory to notarize a moped bill of sale, doing so is another way to protect yourself against legal issues. The notary verifies the transaction and its associated signatories and enters it into the state’s records as a backup.
Bill of Sale for Moped Scooter Forms
People pay attorneys and other legal bodies for moped bill of sale form, but you don’t have to waste money doing that. Instead, we have a free online bill of sale form that you can modify according to your transaction.
With this document, you don’t need to pay fees to the lawyers, and you can conveniently sell your moped. All you need is to check the necessary boxes and fill in the appropriate information following your agreement, as stated above.
You can also generate as many copies as possible, print them, and save them on your device for reference.
How to Sell Moped
Are you ready to put your moped on the market? Here are a few things to do to boost your chances of selling it off quickly:
Repair the moped
Nobody wants to buy a defective product. Unfortunately, people will also undervalue such a product. So, check your moped for any fixes or repairs before putting it up for sale. If there are issues, ensure to fix them at a garage and clean it up after.
Advertise locally and online
Once your moped is in good condition, take quality photos of it from different angles and include them in your ad. Interestingly, you can opt for online ads on Craigslist or eBay and offline ads in newspapers, community networks, and by word of mouth.
Clear the title (registration documents)
Ensure you put all the necessary registration and ownership documents ahead of a buyer’s request or visit. You should register your scooter with the state, so have proof of registration (like a registration number) handy.
Show and negotiate with the potential buyer
Every potential buyer will want to see a scooter before paying for it. So, plan an inspection time and date with a buyer to check out the moped and ascertain its condition. You can also negotiate the price after the inspection.
Finalize the deal
Upon a successful inspection and negotiation, both the buyer and seller should fill the moped bill of sale form with the necessary details already highlighted above, the date of the deal, the names and addresses of both the buyer and seller, and moped color, transaction amount, etc.
Don’t forget to sign the agreement form to make it a legally binding document. You can also get a certificate of acknowledgment from a notary public as a second seal for the deal.
Endnote
Every business person should care about the legal aspect of your business to avoid the potential liability that might arise from errors and loopholes. In essence, having a moped bill of sale form will go a long way in helping you ensure you steer clear of legal issues and keep your sales records intact.
Also, if you are just an individual doing away with an old scooter/moped, a bill of sale will put you on the law’s good side in case of an after-sale dispute. And as a buyer, you’ll be confident you’re getting a legit vehicle without any issues. Interestingly, you can download our free moped/scooter bill of sale form online. It’s ready to print, so you can make modifications according to your deal and have your document ready within minutes.
Frequently Asked Questions
Do you need a license for a scooter/moped?
Some US states require motorcycle owners to get a Class M or a general motorcycle license to drive mopeds, scooters, and similar bikes. However, you only need a general driver’s license in some states.
So, before riding a scooter or moped, you should find out the scooter registration guide for your state and do due diligence.
How fast can a scooter/moped go?
Generally, mopeds have a maximum speed of about 30mph unless in cases where the owner tweaks the speed. However, scooters do not have a fixed speed limit because they come in various sizes and engines.
For example, a 250cc scooter can move as fast as 75mph. But ensure your state laws allow you to ride a scooter on a freeway. So, check your state’s engine and horsepower minimums for highway rides before hitting the roads.
Where can you sell a moped or scooter?
As a moped owner trying to sell off your moped, there are a few options to consider. First, you can leverage online marketplaces like Amazon, eBay, Craigslist, etc. You must create ads in the moped/scooter category and upload quality pictures of your motorcycle from different angles. There are also offline channels like newspapers, journals, community groups, etc.
You’ll also find motorcycle and scooter dealers that rent mopeds and scooters from their owners and resell them. Unfortunately, you may not get the best deals from dealers because they are in the business for profit. Similarly, if you have severe problems with your moped, like the engine not running, a dealer may not buy or buy it as scrap at a ridiculous amount. So, prepare your mind for the possibility of being unable to secure a deal at a dealership.