Bought a Bike, next steps?

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K24_CM7

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Hi Guys, I'm new to the forums but I've been wanting a bike for quite some time now, I successfully complete a motorcycle course and obtained my M2 last summer and just let it sit until now due to the prices of insurance ...

Im new to registering any type of vehicle and I am a little confused on my next steps.

I am got a ninja 250r from a friend for already cheap. I am wondering if on the bill of sale if I wrote that I paid even CHEAPER that it will help me lower some taxes? I am just wondering really how they base their tax values on motorcycles? Book value or bill of sale? And how low do you think I could go for a 2009 ninja 250r.

Another thing is I am getting the bike for cheap but I can not afford insurance this season and it is almost over so I plan on keeping the bike for next season, but you are required to register a bike within 6 days, but if I am not planning on riding it , what happens? I register it and pay taxes? My main concern is that I am going to put the bike under my fathers name but he does not have his M1 license, will this be an issue to register?

OR if I plan on getting it saftied and certified, can I get the temporary 10 day permit through my father even though he doesnt have his license? And what about insurance? I know they require a policy #, can we use our current automobile policy? and will the insurance company even find out ? Because I plan on getting the permit and letting it run out and then storing the bike. Or will I have to inform the insurance company?

Any responses will be greatly appreciated, I'm a newb in need of some help/tips from veteren riders.
Thanks a lot !
 
Congrats on your purchase. No book value for motorcycles. You pay taxes on what you claim you paid for the bike, just make sure your friend claims the same price as you. You can go as low as you like as long as both you and your friend say the same price. Even if you're not riding this season you can still get it registered and pay the taxes, so next year all you will have to do is the safety and get your plates at the ministry to start riding. You can put the bike under your dad's name but since he has no motorcycle license, you won't be able to get insurance for the bike. You still need valid insurance in order to get the 10-day permit. I don't think you can use the current automobile policy because they can check on the computer what vehicle the policy is for.
 
Thank you, and thanks a lot for your super fast reply! This has definitely cleared up most of my confusion! :)
As for the insurance aspect of this, to get the 10-day permit, I would have to get my dad to call his insurance or any insurance and get a policy set up for the bike? Because what if during those 10 days say we find the bike is unfit to even be road legal, what happens then since you already set up a policy?
Or can you just give them your automobile policy since you already have insurance, you can say its being added afterwards? Because I was reading around and some people said they dont even check the policy # and as long as you write something down you should be good?

Because if anything if there will be insurance added it will be added and combined to our existing policy so I was hoping that would be enough.

If anyone knows please feel free to help me out,
 
Oh ya do you think I will get any problems at the MTO if both my friend and I agree that a 2009 motorycle was sold for only $750? Would they question it ? or would I have to come up with an excuse to why its so low ? Possibly say it was dropped with comestic damage? Or is this a no-no because they will add it to the bike's history saying its been in an accident?
 
Yes you can just give the automobile policy number and say that the bike is being added on. You shouldn't have any problems with that and you should get your 10-day permit. I've just heard that they have the policy now on there computer and can see what vehicle it's for. But yeah, as long as you write something down, your good for the time being. But, since your dad doesn't have an M1 he wouldn't be able to get insurance for the bike until he writes him M1. Your only option for getting insurance at the moment is for you to get the bike under your name and get insurance.

Nope, no problems as long you BOTH agree to $750.
 
throttle pretty much summed up everything for you.

What I did for my bike was register it under my name. I claimed it as $1.00 and I paid $0.13 tax on it. I didn't put insurance on it for at least a month. That's where it messed me up because they wouldn't give me temp plates to bring over to a mechanic to get it certified. So they said I had to get it towed there. So I just had Ted come to my house to safety it.

After that, I just went to the MTO with my insurance number, safety cert and my documents and I got my plates.

Good luck OP.
 
throttle said:
Yes you can just give the automobile policy number and say that the bike is being added on. You shouldn't have any problems with that and you should get your 10-day permit. I've just heard that they have the policy now on there computer and can see what vehicle it's for. But yeah, as long as you write something down, your good for the time being. But, since your dad doesn't have an M1 he wouldn't be able to get insurance for the bike until he writes him M1. Your only option for getting insurance at the moment is for you to get the bike under your name and get insurance.

Nope, no problems as long you BOTH agree to $750.
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Alright this sounds good so far, as my original plan is I am not going to be getting insurance until next season, the 10day permit will allow me to get the proper paper work done for the upcoming season also allowing me to ride my newly purchased bike a few times before school starts again! I wouldnt want to spend money and just stare at the bike :) I really just want to get into a parking lot and pretty much practice. I do have an empty lot right behind my houes that I could easily goto with out insurance but I would rather be safe than sorry!

rideitlikeyoustoleit said:
throttle pretty much summed up everything for you.

What I did for my bike was register it under my name. I claimed it as $1.00 and I paid $0.13 tax on it. I didn't put insurance on it for at least a month. That's where it messed me up because they wouldn't give me temp plates to bring over to a mechanic to get it certified. So they said I had to get it towed there. So I just had Ted come to my house to safety it.

After that, I just went to the MTO with my insurance number, safety cert and my documents and I got my plates.

Good luck OP.
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They didnt give you any problems seeing that you only paid $1.00 for the bike?! I may do the same. And even if you didnt put insurance on it for a month, why would that be a problem? Arent you allowed two 10day permits per year?

Also one last question ... with the bike under my fathers name, and just a temporary permit, would I be allowed to legally ride the bike? I've had my M2 for a year now, and I dont plan on actually venturing out onto the roads (Im a newb, im scared :lmao:), I have a few parks near by with lots of free space to ride.
 
K24_CM7 said:
Also one last question ... with the bike under my fathers name, and just a temporary permit, would I be allowed to legally ride the bike?
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Well, technically it wouldn't be 100% legal because you won't be insured. But since you'll have a valid plate, it'll look like your legit.
 
K24_CM7 said:
They didnt give you any problems seeing that you only paid $1.00 for the bike?! I may do the same. And even if you didnt put insurance on it for a month, why would that be a problem? Arent you allowed two 10day permits per year?
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If you register it in your name without a safety, it is registered as 'unfit' and you can't get a 10-day on it at all.
 
K24_CM7 said:
Isnt that the point of the 10-day permit ? To get it place to get it fixed up and ready for a safety?
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The 10-day permit is for when you have everything you need to have your vehicle on the road except the safety (ownership, insurance and taxes paid).
As long as it's insured, this allows you to drive to a mechanic and get a safety done and an e-test (cars and trucks), and then drive back to MTO to give them their copies, and then you can get plates for the vehicle.

If you buy a vehicle and put it in your name but don't plate it for the road, there must be a reason. I am sure that most of the time it's not because the vehicle is unfit, but it's the government's best option to be safe and force you to prove that the vehicle is fit for the road when you're ready to have said vehicle on the road.
If you happen to be marked as unfit, to remain within the boundaries of legal you will have to tow the vehicle everywhere when you need a safety/e-test.
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