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second hand bike

Discussion in 'New Riders and Riding Tips' started by Ridingtime, Aug 23, 2012.

  1. Hey all im about to buy a bike thats been out of rego a month how can i calculate the cost of getting it registered and insured.
    Background info
    NSW registration required
    22 years old
    Full riders license
    Riding for 4-5 years
    bike is a gsxr 600
    Im guessing rego + third part will set me back $800 including transfer fee.
    Can someone tell me how i can get a more accurate quote?
    Also its been out of rego for a month so does getting rego now mean it starts from the date of when the rego ended or from the date that i pay for the rego? (confusing?)
    Also do i have to pay stamp duty?

  2. What ive calculated is
    $400 3rd party (green slip?)
    $114 Registration
    $30 transfer fee
    $400 stamp duty
    Total close to $1000
    Isnt that too high?
  3. I'm not sure if they go off what you paid for the bike, or the market value to get the stamp duty cost. Maybe give more details on the bike - make - year - whatever and some of the blokes on here can help ya.

    and introduce yourself too (y)
  4. In Victoria, before you can register (or re-register) a vehicle you must provide a current RWC.

    How confident are you this bike will not have any RWC defects?
  5. Very confident in no defects only thing changed is fender eliminator its complete stock other than that.
    The market value is $10000 but im going to get it for $8500 so will they go off $10000?
    Its an 08 model gsxr 600
  6. If they go off the final sale price its worth me buying it but if they go off the market value it no longer is.
    Will introduce myself soon i just need quick info at the moment sorry for being so intrusive :)
  7. Transfer costs and stamp duty honour the sale price, not the "market" price.

    Get the guy to write something "valid" on the pink slip and your transfer cost will be fine :D
  8. Awesome all i needed to know ill call him up tomorrow =D
    Do they ever scrutinize the validity of the sale price?
  9. Yep but "valid" is the key word. If its wildly different to what their computer says it should be it could be questioned. At least that's how it works in SA.
  10. So $4000 below say $10000 is too low?
  11. Yes.....

    Don't write $1....

    Something "ballpark" won't raise eyebrows...
  12. In most cases you can restart the rego by paying it when it's up to 3 months overdue and it just carries on from the due date. You'd need to check but it probably won't be an issue.

  13. Ive decided its better to lose a month of rego than have to pay for any safety checks/ blue slip or whatever that's required when getting a new rego.
    Also if i buy it and its unregistered do i need to get a unregistered vehicle permit or am i allowed to ride it home considering i just purchased it? it has no defects
  14. What would you consider ballpark if its market value is 9000?
  15. Sorry to state the obvious but you are aware that the green slip third party insurance is not third party property insurance, so you still have to consider at least covering for third party property damage, fire and theft? Hit a Benz, get clumsy at the servo or have it pinched and you'll be glad you got some cover. Comprehensive will cost more but covers more.
  16. If its market value is 9 it would be a good buy at 6 or 7 that's what I would put down. But it's you not me so you have to make up your own mind what is reasonable. I guess the worse thing that can happen is you get asked to provide a receipt if that's what they do. Just a reminder also that you are publicly discussing ripping off the tax dept.
  17. Without a doubt you'll need a permit. If the rego isn't up to date, regardless by how much, it's unregistered and not legal to ride on the road. It's your decision whether to take the risk or not, but bad things can happen if it turns pearshaped.

  18. I dont plan on taking risks just that i heard if you have just purchased it you can ride it to your place of residence or for registration purposes.

    As for the sale price im just going to put down the actual sum i dont need any hassles so that's not an issue. Its not a huge difference anyway only like $100 to be free of worries.
  19. Whats the point of a green slip then? so i have to purchase a green slip then also third party? as for theft, fire, damage its not a huge concern i plan on putting an alarm system (the one that provides online updates) + a disk lock + possibly a chain depending on where im going.
    Wouldnt cover for theft, fire, damage increase the insurance costs drastically? i tried before and i got something like 1700 for comprehensive.