If there is a lienholder on the car, they must also sign a statement that they were paid in full or released from liability.If applicable, the vehicle’s purchase price or sales price of the trade-in.
The seller should provide this information on their signed bill of sale. If you’re the new owner, you’ll need to transfer the title to your name.
The vehicle’s year, make, model, VIN (vehicle identification number), and odometer reading. Then, they will send a title transfer form to the DMV for processing when this happens. The lienholder will keep all current titles from previous owners until all payments have been made. In some states, it’s also necessary to have their contact information. The names, addresses, and signatures of both parties involved (buyer and seller) – if there is a lienholder, their name must be included. The date of the sale or transfer and the location where it took place (e.g., dealership). What Should Be Included in a Car Bill of Sale? It also shows that you are free to sell the vehicle to someone else. In addition to proving ownership, this document ensures that both parties are on equal ground regarding legal rights and obligations regarding the vehicle being sold (or traded).įor example, if something happened during or after your purchase (such as a defect in the car or a dispute with the dealership), this document will help you seek compensation. Why Do You Need a Car Bill of Sale?Ī car bill of sale protects consumers from unfair practices by dealerships and manufacturers. Both parties must sign this document for it to be valid. The car bill of sale should also include the selling price of the car and the signatures of both parties involved in the transaction. 
It should have all relevant information, including the vehicle’s make, model, year, and VIN number. This contract doesn’t need to be written by hand, but it must be in writing.
It is also known as an auto sale contract or title transfer. A car bill of sale is a legal document that proves that a dealership and buyer have agreed to purchase a vehicle.
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