Selling or buying a vehicle is a significant endeavor that requires utmost care, and the sale agreement should always be legally documented using an automotive bill of sale form.
The automotive bill of sale form serves as a legal document for the sale of a car, making it an essential document for both the buyer and the seller. In addition to facilitating the vehicle transfer, it is also used in some jurisdictions to calculate the tax on the sale.
The form serves as a guarantee of the sale for both the buyer and the seller. For the seller, it acts as proof that the vehicle becomes the buyer’s legal responsibility from the indicated date. Consequently, any claims arising from a third party cannot be directed to the seller.
The buyer’s bill of sale form serves as evidence that they legally own the vehicle once both parties have signed the transaction.
Additionally, it can help detect possible odometer fraud, as some vehicle owners may tamper with odometer readings to falsify vehicle mileage.
Consequently, it provides assurance that the buyer is not being defrauded. In essence, the automotive bill of sale form ensures that the transaction is legal, professional, and reliable.
The automotive bill of sale form should include some essential components. Firstly, it should feature the name and address of the seller, who declares themselves as the legal owner of the vehicle being sold. Secondly, it should record the details of the buyer.
It should also include the vehicle’s make, model, year of manufacture, and vehicle identification number (VIN).
There should also be an indication of the amount of money received by the seller, along with the odometer reading at the time of sale.
There should also be a declaration that the vehicle is free from fees, taxes, and other liabilities. Finally, the form should be signed by both parties, possibly with a witness, and the transaction date should be indicated.
Download the following printable automotive bill of sale form to quickly and easily prepare your own sales document.
