[fastfly]

Starting with a new motorcycle purchased, a new 250r will be advertised for around $3,999 but after taxes, paper fees, application fees, registration etc, the bike will be around $4500 or more.

That is pretty simple for me to wrap my head around but a used purchase is a lot more difficult for me.

Say I found a used 250r for around $3000, what is the actual cost to purchase if that is the agreed price with the private seller.

So, I claim the purchase and pay taxes on my 2011 tax filing but what else? Will there be a title transfer fee? Just registration? What!?!?!


Any help is appreciated.

 

[fastfly]

Your posts are much appreciated!

My dad helped me out when I was buying my first car when I was 16 and my current car was bought new so I haven't really experienced buying a used auto (motorcycle or car).

Another question, I saw a 250r on sale on CL and the guy said he still owed money on the bike and needed the money first so he could pay off the loan before transferring the title. I think anyone would be stupid to go through a buy like that.

If someone owes money on their loan, couldn't you go into the bank with them and make the transaction and have the bank transfer the lien to you?