BILL OF SALE
Why a Bill of Sale is Important
Who Needs a Bill of Sale?
For the most part, the seller just needs a Bill of Sale for his own records, but on the other side of the equation, the buyer might need the form in order to complete the title transfer and register the vehicle. If you show up to the DMV or your local vehicle registration branch without a Bill of Sale, the attendant might turn you away until you can show the proper paperwork with the car’s purchase price.
Another important reason why a Bill of Sale is so necessary during title transfers is because some motor vehicle agencies use this document to calculate the vehicle’s license fee.
Your Bill of Sale will generally include information about the transaction, including:
- A description of the vehicle and its vehicle identification number (VIN).
- Any warranty that may have been agreed upon (or mentioned sold as is)
- The final sale price of the vehicle.
- The name of the buyer and the seller.
- The county and state in which the Motor Vehicle was sold.
- Date of transaction
- Signature and addresses of both parties
Bill of Sale vs. Title Transfer
Bill of Sale Forms
A Bill of Sale is an important part of any vehicle sale; however, it is not the only thing you’ll need to consider.
- No sale is final until you complete a title transfer. Without this step finalized, the seller may be liable for fines and violations associated with the car.
- As a buyer, BE SMART. Don’t get saddled with a lemon. Order a Detailed Vehicle History to know for certain you’re buying a gem.
Depending on the state you live in, your state’s motor Motor Vehicle department may require you to obtain a Bill of Sale. A Bill of Sale can be an important part of any Motor Vehicle transaction for both the buyer and the seller.
Detailed Vehicle History : Don't Sign Without It!
You should NEVER go into a sale transaction without knowing the history of the vehicle for both parties. If you neglect to learn about a vehicle’s history prior to selling or buying, you could get stuck with a lemon or legal issues down the road that will drain your money and time for years.
Detailed History Report reveal information about a Motor Vehicle’s past, including details about:
- Previous owners.
- Previous states where it was registered.
- Past accidents and damages.
- Full mileage history from the Department of Motor Vehicle
- Market value (Based on mileage condition *estimates from industry averages)
- Vehicle use records (commercial, lease)
- Title & Problem verifications
- Safety Recalls
- Over 60 checks included in every Motor Vehicle report
Before you even consider signing a Bill of Sale, you must make sure your purchase will be a good one. To obtain details on a potential purchase, run a history report and conduct a safe transaction today.