25+ Sample Vehicle Bill of Sale
What Is a Vehicle Bill of Sale?
It is the work of a vehicle bill of sale to prove that a buyer has bought a vehicle from a seller. This transaction is usual in buying trucks, cars, and other kinds of vehicles. Through this document, you can have an invoice or receipt that can guarantee that you have bought the vehicle and that you are the rightful owner of it. This is a legal document that is binding in the law of court. It can be used by both parties. On the side of buyers, they will have the perfect evidence that they own the vehicle. On the side of the seller, they will be no longer accountable if the vehicle will be involved in an accident.
A bill of sale can be also referred to as proof of purchase or sales receipt. The transfer of ownership is done through it. In buying any property, this is a very important document. The vehicle bill of sale is a complete record of the vehicle property that has been sold. Some examples of a vehicle bill of sale are a mass car bill of sale and a used car bill of sale.
Components of a Vehicle Bill of Sale
To be valid, a vehicle bill of sale must be notarized. But for it to be complete, it should have all the necessary components. So, sellers have to know the components of a vehicle bill of sale so that they can give an accurate vehicle bill of sale. Come let us know what makes up a vehicle bill of sale.
Vehicle Description: The vehicle should be fully described in the motor vehicle bill of sale. As much as possible, be specific. The vehicle must be identified from your description. The things that you should include about the vehicle are the model, make body type, VIN (Vehicle Identification Number), year, and location. In stating the location, you must put the country and the state. The make of the vehicle is its brand. Include the specific model of the vehicle. The body type is whether it is an SUV, sedan, or convertible. The VIN is the unique identifier of the vehicle which has 17 characters. It can be located in the steering column, driver-side door, dashboard, or car’s firewall. Purchase Price: The purchase price of the vehicle should be clearly written in the bill of sale. This is the price that the buyer has paid to the seller. You can include down payments that are given to secure the vehicle. To make everything clear, you should write the purchase price accurately. This is proof that the buyer has paid the just price that is meant to buy the vehicle. Because of this, the seller and the buyer will have a clear understanding that they have done good business.Location of Sale: You should write where the sale has happened. The state and the country must be included. If the buyer and the seller are from different countries, you must write the location of the motor vehicle or automobile as the location of the sale. If possible, you can write the complete address of the location. This can give accurate information to the vehicle bill of sale. If ever any problem arises, you can use it as a reference.Information of Parties: To identify the parties, you must write the name and the address of both parties in the bill of sale. Write the full details of the buyer and the seller. This is important to identify the parties that are involved in the sale. Refer to parties such as the ‘Seller’ and the ‘Buyer’. The ‘Seller’ is the one who sells the vehicle and the ‘Buyer’ is the one who buys the vehicle. The buyer and the seller are the ones who are going to sign the vehicle bill of sale.Warranties: Warranties should be included in the auto bill of sale. The seller should have a warranty that no other party was involved in the ownership of the car. The buyer should warranty his or her authority in signing the bill of sale. They should disclaim that there will be no other warranties other than the things that are written in the bill of sale. If they have to guarantee something, they must be sure to include it in the document. There should also be a warranty that if something happens to the vehicle in the future, the seller has no responsibility for the vehicle anymore. It is up to the buyer to be accountable for everything about the motorcycle, truck, or car.Vehicle Inspection: To be sure that you are selling the vehicle in good condition, you must include information about vehicle inspection. So, it is time for you to get your vehicle inspection checklist and ensure that all parts of the vehicle are working well. The buyer should have the assurance that the vehicle is in top-running condition. This way, the buyer will not complain about anything about the vehicle. If the vehicle has some issues afterward, it will not be the responsibility of the seller anymore. Because you have provided information about vehicle inspection, you have done your part to ensure that the vehicle is running well. Because of this, the buyer cannot dispute anything about the damage to the vehicle.Delivery of the Vehicle: The way that the seller delivers the vehicle to the buyer should be included in the auto bill of sale. The vehicle can be picked up or delivered to the buyer. In some cases, it can be shipped to the buyer. You should explain how the buyer gets the vehicle. Write the date when this happened.Conveyance of Title: This states that the title of the vehicle property has been given to the buyer at the date of the purchase. This is assurance that the transfer of ownership has been done. If not, the seller has to promise that he or she will sign everything to give the title of transfer. Through the conveyance of the title, the buyer can have the assurance that he or she will receive full ownership of the vehicle.Odometer Disclosure Statement: There should be an odometer disclosure statement in the vehicle bill of sale. Any sample bill of sale or bill of sale example has the disclosure for the odometer of the vehicle. Federal and state laws require this thing. You should reveal the mileage of the vehicle that you are going to sell. A disclosure statement should be given in the bill of sale. Input the number of miles that the vehicle can do. To the best of your knowledge, put a correct odometer reading.Additional Terms of Sale: The vehicle bill of sale should have the right terms and conditions. Before buying the vehicle, the buyer should negotiate with the seller about all the terms that they will want to have in the sale. They should add the provisions that they have agreed upon in the document. This is to make clear that they will do everything to make the sale favorable to both parties. Both parties should ascertain that they will follow all the terms and conditions of the sale.Signatures: This is the most important component of the bill of sale. To be legal, the vehicle bill of sale should contain the signatures of both parties. In the signature blocks, the buyer and the seller should input their signatures. But, of course, before they should sign the vehicle bill of sale, they should read it first carefully.
Tips on Vehicle Bill of Sale
A bill of sale template or a free bill of sale template is not enough for you to create a great vehicle bill of sale. Everyone who is going to make a bill of sale should have some tips so that they can create a perfect bill of sale. It may be a challenge to find practical tips. But we are here for you to provide some tips that you can use.
Prepare Marketing Materials: If you want a better purchase price that you can put in the vehicle bill of sale, you have to prepare marketing materials that can help you name a good price for your vehicle property. With the best brand marketing strategy, the buyer can say yes to the high price that you will ask. Not only that. Many buyers will buy from you by have perfect marketing materials.A Good Impression on Your Vehicle: To be sure that you will reach the vehicle bill of sale, you must prepare your vehicle well. Be sure that buyers will have a good first impression of your vehicles so that they will buy them. To do this, you must polish your vehicles before presenting them to clients. Make sure that its outside appearance will be perfect. Ensure also that all parts of the vehicle will be in perfect condition. Make the necessary repairs and replacements if necessary. So, when the client has a test drive, you will have nothing to worry about.Set a Good Selling Price: Setting a reasonable selling price is critical in selling vehicles. If you want clients to buy from you, you should ascertain that your properties have a good price. To make this possible, research the good price for vehicles. Be aware of the right price in the market. This way, you will not sell your vehicles for less. There will be also no chance that you will overprice your properties. If you have good prices for your vehicles, you will have better chances that your clients will buy from you.Gather Your Documents: Be sure that you have all the paperwork before closing the sale. These documents include car maintenance records, the car’s title, and the bill of sale. To not have any problem at the time of sale, you have to ascertain that you have all the required documents with you. In this way, there will be no delay in the sale. Your clients may change their minds if you have incomplete papers. To not lose any clients, have everything prepared with you.Make a Campaign: A campaign launch plan will help you to get many buyers. Through campaigns, many buyers will notice your vehicles. This is the best way of marketing your properties. On a campaign, you will have a chance to showcase your vehicles. People who will participate in the campaign will see how good your vehicles are. It will help them to have an interest in buying your vehicle properties.
How to Write a Vehicle Bill of Sale
Having a free vehicle bill of sale, you may have an idea of how to create it. But having some steps that you can use is better. You can be guided better on how to craft a perfect bill of sale. The following will help you learn how to create a good vehicle bill of sale:
Step 1: Consider the Market
Before you are going to sell your vehicle, you should consider the market. It will be easy for you to give the right price for your commodity if you will research the market. Know that there can be certain prices that are applicable for a used car and a new car. Know the right price that will apply to the type of vehicle that you are selling.
Step 2: Complete the Elements
After having the right price for your vehicle, you can start selling your properties. Have a test drive with the client so that you can give assurance that your vehicle is working well. After that, wait for the buyer to agree with the price. If you get a positive response, you should start writing the bill of sale. Make sure that you can write it with all the complete components. Make it proof of your agreement.
Step 3: Notarize It
Before both parties should sign the vehicle bill of sale, you must notarize it. This is to ensure that the vehicle bill of sale will be legal. After that, make the buyer sign the document. When this is done, you have legally sold your vehicle to the buyer.
Is a vehicle bill of sale necessary?
Yes, a vehicle bill of sale is necessary. It will be proof of purchase for the buyers. This is a complete assurance that the buyer already owns the vehicle.
Do you have to pay sales tax when you buy a vehicle?
Yes, the buyer has to pay sales tax when buying a vehicle. This is necessary to register and have the title of the vehicle.
You should not buy a vehicle without having the vehicle bill of sale. It is proof that you are the rightful owner of the vehicle after buying it. This is for your protection so that no one will contest your ownership of the vehicle. Be sure that you will have a good vehicle bill of sale. You can have peace of mind when you have it with the sale.