Here's what you'll find in the Vehicle Bill of Sale:
- A contract template for those wishing to sell their vehicle to a private buyer
- Tips for things to avoid, key items to pay attention to, and general resources which may be helpful
- Advice on getting contracts signed quickly, digitally, and legally
Vehicle Bill of Sale Template
A motor vehicle bill of sale is an important legal document. It is proof that a transaction occurred and can be provided to the buyer’s local Department of Motor Vehicles (DMV). A bill of sale is more or less a receipt to show the sale occurred and between what parties.
What is in the Bill of Sale Template
- This template is easy to follow and completely customizable.
- A bill of sale is sometimes referred to as a receipt of purchase.
- The seller is usually responsible for drafting the vehicle bill of sale.
- This template offers insightful tips for you to take advantage of when preparing your bill of sale.
- A bill of sale is widely used in private sales transactions.
Why do I need a Bill of Sale?
A valid bill of sale is required for the buyer to register the vehicle. A bill of sale includes other important information about the vehicle required by the DMV to register and transfer the vehicle to the new owner.
A bill of sale is an essential document for both the seller and the buyer. It is valuable for the seller because it shows that they are no longer in legal possession of the vehicle. A bill of sale is beneficial for the buyer when they register the vehicle at the DMV to transfer the title.
Essential Elements of a Vehicle Bill of Sale
It is critical to include the below elements to ensure the bill of sale is complete and valid. Here are the most important components of a vehicle bill of sale:
- Names and Address of the Parties
- Year, Make, Model, Color, and Body Type of Vehicle
- VIN (Vehicle Identification Number)
- Mileage/Odometer Reading
- Sale Date
- Sale Price
- In some states, a motor vehicle bill of sale must be notarized. It is essential to confirm any other additional requirements with your local and state agencies.
Common Mistakes in a Bill of Sale
A bill of sale is a critically important document. It is always a good idea to consult with an experienced attorney when drafting a bill of sale. In some states, a vehicle bill of sale is required to be notarized. It is important to confirm any other additional requirements with your local and state agencies.
Another critical element of a bill of sale is the vehicle’s odometer reading. There are harsh legal consequences for misrepresenting the mileage of the motor vehicle.
Preview of Contract:
<iframe src="https://workdrive.zohoexternal.com/embed/m3aw00e1fbb632dd245d78f7981e95b2b7c94?toolbar=false" scrolling="no" frameborder="0" allowfullscreen=true width="800" height="520" ></iframe>