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. 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 is widely used in private sales transactions.This template offers insightful tips for you to take advantage of when preparing your bill of sale.The seller is usually responsible for drafting the vehicle bill of sale.A bill of sale is sometimes referred to as a receipt of purchase.
This template is easy to follow and completely customizable.A bill of sale is more or less a receipt to show the sale occurred and between what parties. It is proof that a transaction occurred and can be provided to the buyer’s local Department of Motor Vehicles (DMV). This ensures that both parties have an agreement and a signed document for proof to avoid legal issues that could arise down the line.A motor vehicle bill of sale is an important legal document. Thus, this template may be used by both parties when conducting the transaction. Whether you are a buyer or the seller, you should never walk out of a vehicle sale transaction without a copy of the Vehicle Bill of Sale. This protects both the seller from any liability in the future, such as fines and violations, and the buyer from wrongfully making a wrong buying decision.Ī Vehicle Bill of Sale is a wise documentation of the transaction. This Free Vehicle Bill of Sale Template also states that the odometer was not altered and that the seller believes, to the best of his knowledge, that the vehicle is being sold in good operating condition. This protects the buyer from buying a faulty vehicle, or paying an overpriced amount. This template also states that the buyer can have the vehicle inspected by a mechanic, and that no sale can take place if the vehicle inspection is found unsatisfactory to the buyer.
It indicates acknowledgement of the seller upon receiving a certain amount of down payment for the vehicle from the buyer, as well as an agreement that the full amount of payment and title transfer will take place within a certain number of days. This bill template also states the conditions and representations of the sale. It also indicates the mileage of the vehicle through the Odometer Reading. This Car Bill of Sale Template indicates the Make, Year, Model or Series, VIN Number, Color, Style and TItle Number of the Vehicle.
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