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.
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Selling a car is a big step for both the buyer and the seller. It is crucial to have all of your ducks in a row. Here are a few helpful resources to get you on track:
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BILL OF SALE
This Vehicle Bill of Sale (“Bill of Sale”), dated on this _____ day of _______, 20__ (the “Effective Date”) is entered into between ___________________________________ (“Seller”) with an address of ____________________________________________________________________________________________ and _________________________________(“Buyer”) with an address of _____________________________________________________________________________________________ ____________________________________. For the consideration below, the Seller does hereby sell the following described motor Vehicle (“Vehicle”):
Federal Law requires the mileage of a motor vehicle be expressed upon transfer of ownership. Failure to disclose the appropriate mile or providing a false statement could result in fines and/or imprisonment.
The Seller hereby states that the odometer reading of the Vehicle is as stated above. Further, the Seller certifies to the best of their knowledge that this reading reflects the actual mileage of the Vehicle. If the Vehicle’s odometer was altered for repair or for replacement purposes while in the Seller’s possession, that the mileage registered on the repaired or replacement odometer was identical to the mileage displayed on the replaced odometer prior to the repair or replacement.
The Seller warrants that the Vehicle is being transferred free and clear of any liens and encumbrances.
The Vehicle is being transferred and sole on an “AS IS” basis with no warranties, express or implied, as to the condition of the Vehicle.
SIGNED UNDER THE PENALTIES OF PERJURY THIS ON THIS _____ DAY OF ____________, 20__.
Seller’s Printed Name
Buyer’s Printed Name
STATE OF ___________ )
__________ COUNTY )
Before me, the undersigned, a Notary Public in and for said county in said state, hereby certify that ________________________, whose name is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day, that, being informed of the contents of the above and foregoing, he executed the same voluntarily on the day the same bears date.
Dated this the _____day of___________________, 20__.
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