Monday, May 12, 2014

What Goes in a Car Bill of Sale?

Every car you buy should come with a bill of sale. This document states that you are the legal owner of your new car. This is also true for many other types of vehicles.

Transfer of Ownership

    The bill of sale should include the name of the business or person selling the car and the seller's name and address. It will also include the new owner's name and address.

Vehicle Information

    The bill of sale should have the car's make, model, year, color, style, VIN and exact mileage at the time of sale.

Warranty Information

    The bill of sale should specify any warranty information related to the vehicle. If it does not have a warranty, that should be stated clearly.

Date

    The bill of sale should have the date the vehicle was sold.

Legal Disclaimer

    There should be a section disclosing that it is a binding contract of sale; the document should be signed and dated by an authorized representative of the selling company or by a Notary Public.

Vehicle Selling Price

    The selling price of the vehicle should be included on the bill of sale for calculating sales tax.

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