Importance of Bill of Sale for Buying a Car

Importance of Bill of Sale for Buying a Car

What is the importance of the bill of sale for buying a car?

 

Why you need A Vehicle Bill of Sale :

A vehicle bill of sale is a written agreement by which a used auto owner assigns or transfers their rights or interest in the vehicle to the buyer. For used auto sales, having this form will be of great help in the selling process.A vehicle bill of sale may serve as one of the necessary documents that establishes a buyer's proof of ownership when trying to obtain auto insurance or prove ownership.

If any problem arises later, the document will help the seller or the buyer to prove their case. In addition, the bill of sale serves as proof the buyer really bought the Car and owns it. And last but not least, the document is what you need for accounting and taxation purposes.

 

To prevent frauds, the used vehicle is usually not registered without an auto bill of sale form, furnishing correct and verified information and completed in all respects. In case, the seller refuses to record the sale in auto bill of sale form, do not make any deal with him or try to convince him for the same.

 

Even if the state in which you live does not require an auto bill of sale form to register the purchase of a used vehicle, creating one is good for you. You should also insist the seller to create one so that both the parties are aware of exactly what legal terms they are agreeing to. One can also hire a lawyer to provide legal advice regarding the same. In short, an auto bill of sale form makes buying and selling of used cars more comfortable, reliable, and professional, and should be considered.

 

The Information usually included in Vehicle Bill Sale :

The buyer retains the original copy of the used auto bill of sale, and provides it to the DMV with the other acceptable proofs of ownership required when purchasing a tag.

 

Additionally, the vehicle bill of sale may be notarized. The Buyer and Seller can make copies of the bill of sale, for record keeping purposes. A bill of sale of a motor vehicle, is not only sufficient proof of auto ownership. So, the vehicle purchaser may need other forms of proof of ownership, such as the vehicle Title.

 

 

 

Where does one find a vehicle bill of sale template or form ?

In many cases you may be able to download a car bill of sale that's printable from the government driver and vehicles services website where you live. This is a nice way to do it because you know that you're getting the official word and form right from the people who will handle the transfer of your vehicle title. In any case, the net is full of sites with vehicle bill of sale forms, bill of sale templates and bill of sale samples - free or with charge. All you have to do is Google the term your looking for - whether it be a free downloadable template or a sample bill of sale form.

 

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