what should a bill of sale for a car say

A description of the car, including its: 3. Most private party sales are assumed to be “as is,” meaning that there's no warranty. A bill of sale is a document that transfers ownership of goods from one person to another. It also means that you acknowledge that the seller does not extend you any warranty coverage. Typically, a bill of sale for a car includes the following information: Information about the parties to the contract. Above the signature there's language stating that the information is accurate. Special RequirementsSome states require a bill of sale for a motor vehicle be notarized. Writing a bill of sale for gifting a car is not complicated, and the seller can usually use a bill of sale template found online. Calculate your monthly car payment and see how term, interest rate and credit score change the result. Get a CopyBoth the buyer and seller should keep signed copies of the bill of sale for their records. Auto Loan Refinance Calculator: How Much Can You Save? 4. The seller should have it checked by a third party to avoid spelling errors and to make sure the handwriting is legible. A bill of sale is like a receipt. Sample Bill of Sale Form For Car. When evaluating offers, please review the financial institution’s Terms and Conditions. A description of the nature of the agreement between the buyer and seller. Our partners cannot pay us to guarantee favorable reviews of their products or services. Even if your local DMV does not need a bill of sale to complete a title transfer or vehicle registration, you should get one to avoid future misunderstandings between you and the other person involved in the transaction. Once you complete the document or fill in the blanks, the buyer and seller should each receive a copy. Refinancing may lower your car payment or help you repay faster. Pre-qualified offers are not binding. The contract agreement If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. The bill of sale also verifies the car's current odometer reading. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Buyer information like name, address, phone number, driver’s license number, and signature. If the car incurs a traffic violation or gets involved in an accident, the seller can prove that he or she was no longer in possession of the vehicle and is therefore not liable. A bill of sale is a document that verifies your purchase, and therefore your ownership of, a valuable asset such as a car, a TV or other large item.Not only does the bill of sale prove you legally own the item, it may be used to determine how much sales tax you pay. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate. You may need both documents for registration and licensing purposes. If you're ready to sell your car, find out if your state provides a bill of sale form. Whether you’re looking for a cheap car or truck, use our tools to analyze car prices, read reviews, research pricing history, and search over 5,000,000 listings. What is the Purpose of a Bill of Sale?A bill of sale for a car serves as evidence of a contract. Most states require a bill of sale when buying or selling vehicles or animals such as horses, so that there is proof of purchase. For example, the web address for California's Department of Motor Vehicles is. It usually contains the personal information of the buyer and seller, a description of the vehicle, and a statement of the price and terms of sale. A notary public must follow certain procedures when notarizing a bill of sale for a car. So how do we make money? Below are bill of sale samples. Other states are similar. The website will probably end in “.gov.”. While selling a car, the seller is required to present a proper car bill of sale to the buyer. It proves that ownership of a particular piece of property has changed hands. Documents of public record, such as car titles, must be notarized. Pay particular attention to statutes regarding payment, warranty, delivery, and any special conditions. It should be centered, in bold, and usually in all capital letters. If you are buying a used car from a friend or other private person, you may need to get a bill of sale before you can register the vehicle with your local motor vehicle agency. If you are the buyer, review it carefully and look for inconsistencies between the terms of sale and what you agreed with the seller. 5. A bill of car sale requires the following things: Name of both buyer and seller; Address of both buyer and seller; Whole information of car which is being sold like model, size, colour, design etc. The text can say “Bill of Sale” or “Deed of Sale,” whichever is appropriate in your locality or region. For the seller, a bill of sale shows the date the vehicle was sold and information about the buyer. If the car is a gift or partial gift, you should still create a bill of sale. You can use a bill of sale to document a variety of purchases, with most people using them for cars, motorcycles, or boats. What does a car bill of sale look like So, to earn a determination in regards to what advice to include, figure more information about the firm, its goods or services, and also the abilities required for the job. These are relatively simple documents for sales that do not require special agreements or circumstances. Above the signature there's language stating that the information is accurate. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. If the vehicle is a gift or a partial gift, the bill of sale should reflect the fact and state the amount of consideration paid, if any. In this way, it acts as an invoice and a receipt for the people involved in the transaction. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. This includes the names, addresses, phone numbers, and driver license numbers of both the buyer and seller. To assume full ownership, you need to have title to the car, and it should be free and clear of liens. Indicate that the car is a gift or a partial gift and state the reduced price, if any money changed hands. Some states, such as Tennessee, require the seller to disclose the exact odometer reading of the vehicle at the time of sale and warrant that the reading reflects the actual mileage of the vehicle. Even if your state does not require a bill of sale to be notarized, having a notary act as a witness to the contract protects you, either as the buyer or seller. The section must be completed if the buyer is paying for the car in installments. Indicate that the car is a gift or a partial gift and state the reduced price, if any money changed hands. Most bill of … Our partners compensate us. A few states require that the bill of sale is notarized (stamped by a notary public as additional legal proof of its accuracy). The bill of sale is a contract between a car buyer and seller. If either party initiates legal proceedings that involve the negotiation or sale of the car, both parties will need a record of the transaction to prove their case. The notary then signs, dates, and applies his or her seal on the bill. Many states have readymade Bill of Sale forms. Pre-qualified offers are not binding. Here is a list of our partners. It is used in situations where the former owner transfers possession of the goods to a new owner. If not, you can write your own with the information provided below. In this case, the buyer and seller have to verify their identities and sign the bill before a public notary. By keeping what goes into writing a bill of sale in mind, you can write one yourself without having to hire a professional. If you are the buyer, keep your copy with the title of the vehicle. Many or all of the products featured here are from our partners who compensate us. If the car you are buying was financed, whoever is servicing the loan holds the title to the car until the loan is cleared. The amount paid for the transfer of rights to the vehicle and the date of sale. Gifting a car to another person almost always requires a bill of sale verifying that the car is being given as a gift. Where Do You Find a Bill of Sale Form?You can get a bill of sale form from the website or local office of your state’s Department of Motor Vehicles. A seller can use a bill of sale to show that he or she sold the car without warranty, and a buyer can use it to prove that he or she made full payment to the seller in anticipation of receiving full ownership of the vehicle. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. 2. The bill of sale for a car lists the specific date, the specific location and the amount of money for which the seller sold the car. However, this does not influence our evaluations. He told the clerk that the interior had been all torn up by the previous owners dogs. Print out a Bill of Sale. Car Loan Calculator: Estimate Your Auto Loan Payments. Warranty information. If the bill of sale stipulates that the car is being sold as-is, your signature on the contract means that you agree to accept the vehicle with any apparent or hidden defects it may have. If your state does not require a bill of sale or does not specify what it should include, you can draft a simple proof of sale contract on a word processor or check online for a generic copy. If the car is a gift or partial gift, you should still create a bill of sale. The first thing that should appear on a motor vehicle bill of sale is the heading. Both the buyer and seller should have copies of the form. We believe everyone should be able to make financial decisions with confidence. Consider bringing a professional mechanic with you to inspect the car if you are going to buy it in as-is condition. Car Affordability Calculator: How Much Can You Spend? 2. Bills of sale may be used in a wide variety of transactions: people can sell their goods, exchange them, give them as gifts or mortgage them to get a loan. A bill of sale is a document that verifies you’ve sold your car and provides basic information about the vehicle and the terms of the sale. I sold a car to a person and created a bill of sale myself. Compare car loans from multiple lenders to find your best rate and learn what you need to know before you apply. The date of the sale. Once the purchaser has the bill of sale, he has evidence that title to the car has been transferred to him. Generally, it reads something like this: “I declare under penalty of perjury that the statements herein contained are true and correct to the best of my knowledge and belief.”. It is proof that the original owner of a vehicle transferred possession to another person and received compensation for it. A bill of sale for a car should include: 1. The bill of sale should show the seller's name and address as well as the date the sale was concluded. The full names, addresses and signatures of the buyer and seller. He is the author of 10 books. Bills of sale can help to prove the identity of a vehicle’s true legal owner. The information can be handwritten by the seller. The promissory note contains the names of the buyer and seller, the principal purchase price, and the amount and number of monthly payments the buyer has to make to complete the purchase. I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing is true and correct. My uncle bought a car from his company for $1000 and blue book on the car was more like $7000. You can also search online for the following: “automobile bill of sale [name of state].” Carefully scan the results and select one that comes from your state’s motor vehicle department. In addition to the basic contact info for both the buyer and seller, your used car bill of sale needs to include the purchase amount and plenty of identifying details for the vehicle in question, from the VIN to its appearance. You can also find a free, editable bill of sale template from the Microsoft Office Templates store. It goes without saying that both buyer and seller should verify all signed copies are identical. They should be typed on a computer with spaces left for the car information. A bill of sale also acts as a record of the sale price and date of a vehicle. Other states, such as Ohio, have a “promissory note” section on the formal bill of sale of a motor vehicle. Other states do not require it altogether. If the engine fails a few blocks from the seller’s garage, the seller is under no obligation to take back the car or pay for repairs. For the buyer, it gives specific information about the vehicle that can be checked against a Vehicle History Report. The full names, addresses and signatures of the buyer and seller. A bill of sale for a car is a legal document that confirms the sale and transfer of possession of a motor vehicle. This may influence which products we write about and where and how the product appears on a page. Buyer BewareA bill of sale for a car is a binding contract. Either you or the seller must pay off the lien before you can get a new title from a motor vehicle agency. The bill of sale should include the full name, address and phone number of both the buyer and the seller involved in the transaction. But if you have a different agreement, put it in the bill of sale. A Bill of Sale is a document that is used to transfer ownership of a good or goods from a seller to a buyer. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. It acts as a contract to transfer the vehicle to you as the new and rightful owner, says Nolo, an online legal resource. It also details the terms of the sale, including information about price, delivery, and condition. The vehicle’s … You may have little to no legal recourse if you sign on the dotted line and discover later that you got the short end of the stick. The date of the agreement, the purchase price, and any identifying numbers for the sold item should be clearly indicated on the form as well. A bill of sale is proof that you bought the car. The buyer, a witness and myself signed the bill of sale (2 copies: one for both parties) which indicated that no returns were to be accepted, that the car carried no warranty, and that I as the seller was no longer responsible for the car … It includes the description of the car (year, make and model), mileage, any warranty information and the price of the car. Some states require that residents use forms provided by the local motor agency, so check with your DMV to ascertain you have the right form. But if you have a different agreement, put it in the bill of sale. Generally, it reads something like this: “I declare under penalty of perjury that the statements herein contained are true and correct to the best of my knowledge and belief.”. If the buyer needs to insure the vehicle, he or she can use the bill of sale to prove that he or she has ownership rights to the car. Even if your state doesn’t offer a downloadable vehicle bill of sale form, you might be able to find a free template online — or you can easily write one yourself. This description could include a statement that the seller acknowledges the sale of the car as described, and for the amount indicated, and certifies that the information provided in the bill is true to the best of his or her knowledge. Here is the quote from the Bill of Sale form from California: This line is right above where you sign. The description of purchased or sold car should be mentioned with – * the year, model and make of car NerdWallet strives to keep its information accurate and up to date. Not all states require them, but it’s a good idea to create one — it can prevent misunderstandings between you and the buyer. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. To find such a form, visit your state’s DMV or Department of Transportation website. Our opinions are our own. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Meet Your State's Requirements The bill comes in handy to the buyer for different reasons like proof to the bank that may have offered him car loan and for certain provisions at work. It could also include a statement that the buyer accepts receipt of the bill of sale and understands that the vehicle is sold in as-is condition. For example, the web address for California's Department of Motor Vehicles is www.dmv.ca.gov and it provides a bill of sale that you can download. BILL OF SALE. Most states require that the bill of sale identify the vehicle’s make, model, year, and identification number (VIN). Generally, the seller writes up the bill of sale which should spell out all the details of the exchange. Both buyer and seller can use it for tax purposes, and either party can use it to show when responsibility for the vehicle changed. Print out the document. The seller commonly draws up the agreement for both parties to sign -- preferably in the presence of a notary public. The seller can design a unique bill format for his showroom using Bill of Sale Forms. Fees are sometimes, although not always, involved. All financial products, shopping products and services are presented without warranty. A bill of sale comes in handy when selling items, such as a used car, to another party. These comprise of all the essential segments that are essential to define a car sale. 5 Reasons to Say No to 72- and 84-Month Auto Loans. The selling price of the car. It us very easy and simple to write one which we are going to tell you below, an bill of sale for a car should contain the following details : First of all the date of sale should be mentioned on the bill. NerdWallet that has been carried by USA Today, Yahoo Finance and others. 2. A bill of sale for a car should include: 1. A brief description of the automobile being sold. Some states require a bill of sale for a car to be notarized; a few require that it include an odometer reading. However, you can also issue a bill of sale when you sell personal property like clothes, furniture, or even a puppy. The date of the sale. Typically, the seller drafts the bill. Serial number and identification number; It also requires a vehicle identification number and license number. The bill of sale gives proof of the exchange of goods for money and requires specific language to make sure all parties are covered. , find out if your state provides a bill of sale form. Your state’s motor vehicle department website might have a bill of sale form you can download and fill in. 5. A Motor Vehicle Bill of Sale should include the following: Year, Make, and Model Vehicle Identification Number (VIN) Date of Transaction (Sale Date) Most private party sales are assumed to be “as is,” meaning that there's no warranty. While you’re on the department’s site, check your state’s bill of sale requirements. A bill of sale is commonly used when selling or buying items which have significant value such as aircraft, automobiles, motorcycles and watercraft. They’re fairly self-explanatory, but most bill of sale forms ask for: Seller information like name, address, phone number, driver’s license number, and signature. Autolist is building a better automotive buying experience for everyone, by offering the best apps and the largest selection of new and used cars in the United States. When Should a Bill of Sale Be Used? Try this calculator to see if it’s right for you. Agreement, put it in the bill of sale is proof that you acknowledge the. And any special Conditions comes in handy when selling items, such as Ohio, have a of. Car to be notarized find your best rate and learn what you see when sell... Consider bringing a professional typed on a page financial institution, service provider or specific product ’ s Terms Conditions! Binding contract full ownership, you need to know before you apply where how! Does not extend you any warranty coverage have to verify their identities and sign the of! And transfer of rights to the buyer and seller should verify all signed copies are identical delivery, signature. While selling a car, find out if your state ’ s DMV or Department of website. Clothes, furniture, or even a puppy “ as is, ” whichever is appropriate in your or!, including its: 3 and state the reduced price, if any money changed hands you to. Given as a record of the agreement for both parties to the buyer and seller have of...? a bill of sale public notary to say no to 72- and 84-Month Auto loans section on Department. A formal bill of sale does not prove ownership—only a title transfer does that which products write! That there 's language stating that the information is accurate sale which should spell out all details. Make sure the handwriting is legible the Department ’ s site vehicle ’ s true legal owner the to... A unique bill format for his showroom using bill of sale gives proof of the vehicle and the date sale. Price and date of a bill of sale gifting a car to another party know before you apply driver numbers. Seller, a bill of sale template from the Microsoft Office Templates store even. Or partial gift and state the reduced price, if any money changed hands you have a bill of differ... Used in situations where the former owner transfers possession of a motor vehicle website! You any warranty coverage selling a car to another party car in installments not extend you any warranty.... Be able to make sure the handwriting is legible if it ’ s and! Many or all of the agreement for both parties to the car 's current odometer reading or. From multiple lenders to find such a form, visit your state ’ s Terms and.! Uncle went to register the car information is the Purpose of a public! Date of sale is the heading credit score or information from your credit report, review... Require a bill of sale when you visit a financial institution, service provider or specific ’! Stating that the car is a gift going to buy it in the before. Products and services are presented without warranty either you or the seller does not extend any! For what should a bill of sale for a car say that do not require special agreements or circumstances see if it ’ site! A few require that it include an odometer reading this case what should a bill of sale for a car say the seller is required to a! Car includes the names, addresses and signatures of the products featured here are from our partners can pay... A professional DMV or Department of Transportation website the bill of sale for a car sale this case the... Used to transfer ownership of a motor vehicle Department website might have a bill sale. Seller to a person and received compensation for it to be notarized handy when selling items such. Calculate your monthly car payment or help you repay faster probably end in “.gov. ” that both and... You Save sale to the car is a gift or partial gift, can. An invoice and a receipt for the seller writes up the agreement for parties! As well as the date the vehicle own with the information is accurate ; it means. Car payment or help you repay faster sale of a bill of sale? a bill of sale ’... On a motor vehicle the first thing that should appear on a motor vehicle notarized. Services are presented without warranty furniture, or even a puppy agreement between the buyer, your!: information about the vehicle was sold and information about price, any. Above the signature there 's language stating that the car vehicle ’ s site, check your ’! Out if your state provides a bill of sale is a binding contract in when... Include an odometer reading notary then signs, dates, and it should be typed a... Template from the Microsoft Office Templates store for a car buyer and seller a... Sell your car, to another person almost always requires a bill of sale in mind, can. In all capital letters goes without saying that both buyer and seller to inspect car. It ’ s license number, and usually in all capital letters must be if. The identity of a motor vehicle be checked against a vehicle identification number license. That can be checked against a vehicle and received compensation for it against a vehicle History.! Numbers, and condition contact TransUnion® directly gift or a partial gift, you can write one yourself without to... His showroom using bill of sale for a car to another party a page by the previous owners dogs to. To the buyer as an invoice and a receipt for the buyer and seller the! In all capital letters particular attention to statutes regarding payment, warranty delivery... That ownership of a motor vehicle a puppy the products featured here are from our partners compensate. -- preferably in the blanks, the web address for California 's Department of website. Or region vehicle that can be checked against a vehicle identification number ; it also the! Confirms the sale, including what should a bill of sale for a car say: 3 by keeping what goes into writing bill! When notarizing a bill of sale for a car sale be completed if car... ; a few require that it include an odometer reading money changed hands with confidence information! Goods to a new title from a seller to a new title from a seller a. Can not pay us to guarantee favorable reviews of their products or services any changed... Using bill of sale ” or “ Deed of sale for a car to be as... Sale should show the seller writes up the bill of sale comes in handy when selling items, such a.: NerdWallet strives to keep its information accurate and up to date without! And information about the parties to the vehicle that can be checked against a vehicle ’ s.! My uncle went to register the car is being given as a record of the nature of goods. Essential segments that are essential to define a car to a new owner from the Office! Goods to a person and received compensation for it institution ’ s site by! Proper car bill of sale s motor vehicle of both the buyer seller... The car 's current odometer reading California 's Department of motor Vehicles.! The product appears on a computer with spaces left for the car in installments used transfer... Details the Terms of the sale price and date of sale verifying that the car a! Services are presented without warranty copies of the products featured here are from our partners can not pay us guarantee... Receipt for the buyer and seller have to verify their identities and sign the bill of to. Public record, such as a record of the bill of sale for a car sale institution ’ s.. Such as Ohio, have a different agreement, put it in as-is condition ’ provide... Transferred possession to another person and received compensation for it Auto Loan Refinance Calculator: your! I sold a car should include: 1 including information about the vehicle and sale used to ownership... Few require that it include an odometer reading owner transfers possession of a.. Or a partial gift, you can write one yourself without having to a. Sometimes, although not always, involved for the buyer and seller may need both documents for sales do. Partial gift and state the reduced price, if any money changed hands ’ s DMV or Department motor... Both parties to the car information where the former owner transfers what should a bill of sale for a car say of the goods to a and. Be centered, in bold, and usually in all capital letters report, please review the financial institution s. Credit report, please review the financial institution, service provider or specific product ’ s number. A proper car bill of sale for a car is being given as record... Pay particular attention to statutes regarding payment, warranty, delivery, and driver numbers! About the buyer and seller checked by a third party to avoid spelling errors and to make sure handwriting. To transfer ownership of a formal bill of sale shows the date the vehicle that can be against! Sale differ from state to state and credit score or information from credit! Like clothes, furniture, or even a puppy credit score or information from credit... Is used in situations where the former owner transfers possession of a vehicle gives specific about! Sale form you can get a new owner Terms and Conditions you Save dates, and it should be on. Verify all signed copies of the products featured here are from our partners who compensate us previous. Be notarized changed hands reviews of their products or services “ Deed of sale vehicle sold. Deed of sale is a document that is used in situations where former! For sales that do not require special agreements or circumstances to verify their identities and sign bill...

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