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Buying Bikes (to later sell for profit)

Old 01-05-2012, 07:23 AM
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Default Buying Bikes (to later sell for profit)

With the winter bringing on lower and lower bike prices I have always been tempted to purchase a sportbike or two during January and then resell them in May or June for a profit. I'm not expecting a huge return, but maybe $1000/bike depending upon how cheaply I can buy them.

My biggest hesitation is, do I have to title/tag/insure any bike I buy (but do not ride) over that 3 month period before I flip them for profit? Obviously with each bike if I had to pay for tax and tag I would be eating up ~$400 of profit.

I know there is some rule about only being able to sell a certain number of vehicles before being branded as a "dealer", but I was under the impression that you had to sell 5+ vehicles a year for that to take effect.

Can anyone shed some light on whether or not I need to title any bike I purchase and resell a few months later?

Thanks!
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Old 01-05-2012, 07:32 AM
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Default Re: Buying Bikes (to later sell for profit)

Not sure what the number is to be a "dealer." But if you don't take a loan out to purchase the bike, and you don't ride it and keep it off city streets, then you don't have to insure it. And I don't know about the law about titling it, but i've bought cars and not put my name on the title and then sold it to someone else and never had to pay to title it. it's like i never owned it
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Old 01-05-2012, 07:46 AM
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Default Re: Buying Bikes (to later sell for profit)

anytime you buy a vehicle you have to title it. Unless you just keep the title from the owner you bought it from then convince who you are selling it to its not stolen because its not in your name at all.
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Old 01-05-2012, 02:47 PM
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Default Re: Buying Bikes (to later sell for profit)

Originally Posted by TimmyD87 View Post
anytime you buy a vehicle you have to title it. Unless you just keep the title from the owner you bought it from then convince who you are selling it to its not stolen because its not in your name at all.
I would think having the title would be enough to prove the motorcycle wasn't stolen (and the bill of sale I would have would also back that up).
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Old 01-05-2012, 04:54 PM
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Default Re: Buying Bikes (to later sell for profit)

Bill of sale would be great. The more information you have about the bike being yours the better, obviously.
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Old 01-08-2012, 07:09 PM
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Default Re: Buying Bikes (to later sell for profit)

dont show that bill of sale to whoever you are selling it to. They will see the cheap price you got it for
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Old 01-08-2012, 07:16 PM
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Default Re: Buying Bikes (to later sell for profit)

Originally Posted by 95RogueM3 View Post
With the winter bringing on lower and lower bike prices I have always been tempted to purchase a sportbike or two during January and then resell them in May or June for a profit. I'm not expecting a huge return, but maybe $1000/bike depending upon how cheaply I can buy them.

My biggest hesitation is, do I have to title/tag/insure any bike I buy (but do not ride) over that 3 month period before I flip them for profit? Obviously with each bike if I had to pay for tax and tag I would be eating up ~$400 of profit.

I know there is some rule about only being able to sell a certain number of vehicles before being branded as a "dealer", but I was under the impression that you had to sell 5+ vehicles a year for that to take effect.

Can anyone shed some light on whether or not I need to title any bike I purchase and resell a few months later?

Thanks!
Where do you plan to store them? If they are out in the open, even in your driveway, the city can tow them without being registered, not displaying tags, current inspection. . .
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Old 01-08-2012, 07:44 PM
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Default Re: Buying Bikes (to later sell for profit)

Originally Posted by TATTRAT View Post
Where do you plan to store them? If they are out in the open, even in your driveway, the city can tow them without being registered, not displaying tags, current inspection. . .
My city doesn't but of course no one is dumb enough to come to the middle of nowhere WV. Call your DMV and ask how it all works.
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Old 01-08-2012, 07:46 PM
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Default Re: Buying Bikes (to later sell for profit)

Originally Posted by unuzual kustum View Post
My city doesn't but of course no one is dumb enough to come to the middle of nowhere WV. Call your DMV and ask how it all works.
In VA they can/do.
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Old 01-08-2012, 08:37 PM
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Default Re: Buying Bikes (to later sell for profit)

You must retitle in your name before selling to stay on the right side of the rules. Not sure what would happen other than a DMV fine if you were caught. But Im not quite sure how you'd get caught unless a buyer narced you out. In VA you are allowed to sell 5 cars/bikes without a license.
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