A moped bill of sale is a document that is used in transactions that involve the transfer of a scooter from a seller to a buyer. This document acts as a proof of ownership, a sales receipt, and it’ll serve to protect the seller from any liability of damage, repairs, or defects identified after the sale. The buyer should also be aware the moped will be sold in the “as-is” condition; thus, the seller will not be responsible for any liability after the sale. This document is also a requirement when registering the moped with DMV.
TIP: If you’re purchasing the moped via hire purchase or credit, you’ll be required to pay a deposit upfront, inspect the scooter afterward and clear the outstanding amount as agreed before picking the item.
What to Include In the Moped bill of Sale?
After the buyer and seller agree on the terms and conditions of the transactions, they need to prepare and sign the mopped bill of sale. The best option would be to use a pre-written document to avoid missing out on some of the crucial details that should feature in the moped bill of sale. A typical moped bill of sale should include the following information:
Date of the purchase: it’s essential to include the actual date of the transaction in the bill of sale as a reference.
The names and addresses of the buyer and seller: This information is critical to identify both the buyer and the seller.
Moped details: Information about the moped such as model, year of manufacture, motor capacity, color, make(cc), odometer readings, vehicle identification number(VIN), condition, registration number, and any other vital information should feature in the moped bill of sale.
Purchase Price: It’s also essential to indicate the agreed price for the moped in the document.
Date of Payment: the buyer and seller must agree when the payment will be made.
Security Deposit: in case the parties agree on a security deposit, it should also be captured in the bill of sale
Inspection Period: This is an indication of when the buyer will inspect the moped.
Signatures: Signatures, dates, and typed names of the buyer, seller, and witnesses
Additionally, the moped bill of sale can be notarized by a public notary to caution the risk of disputes in the future.
Moped (Scooter) Bill of Sale Form
Do You Need a Bill of Sale for a Moped?
Yes, you need a bill of sale for the moped. The document will act as proof of ownership and also as a form of insurance should anyone get injured by the moped.
Additionally, some states need moped owners to register the vehicle with the department of motor vehicles, and thus you’ll need to produce a moped bill of sale as proof of ownership.