Auto Bill of Sale Forms - Lease Deals
Our Bill of Sale Package contains a Bill of Sale for an Auto, Watercraft, Animal, and other Personal Property. Download online or order in hard copy.
Download a Bill of Sale and Odometer Statement for use when selling your automobile. You may also download a promissory note separately or as part of a forms package.
Auto Bill of Sale FAQ Calculating Lease Payments
What is an auto bill of sale? An auto bill of sale is a document that transfers an automobile from a seller to a buyer.
What is included in an auto bill of sale form? Most auto bill of sale forms include the following information:
- Amount of consideration paid for the transfer of title and date of purchase.
- Name and address of seller(s).
- Name and address of buyer(s).
- Specific information about the automobile being sold: make/model of the vehicle, VIN number, etc.
- Signature of the seller(s).
- Odometer Disclosure Statement as required by federal and state law.
- Signature of a notary public.
What information is required to be listed in the Odometer Disclosure Statement?
The Odometer Disclosure Statement requires the following information:
- The seller must disclose the current reading of the odometer and warrant that to the best of his/her ability this reading reflects the actual mileage of the vehicle being transferred to the buyer.
- The make/model/body type of the vehicle.
- Name and address of the seller.
- Name and address of the buyer.
- Signature of a notary public.
What You Should Know before Creating a Bill of Sale for a Car Lease Car
Whenever you buy something from the store, you get a receipt. Similarly, when you purchase a vehicle from a private seller, you obtain proof of it, but this time in the form of a Bill of Sale.
A Bill of Sale is a document drafted by two parties to record evidence that a car has transferred from one party (seller) to another (buyer). However, there’s more to this document than simple evidence that this transaction has occurred.
Is an Auto Bill of Sale Enough to Prove the Ownership of the Vehicle? Odometer Disclosure Statement
No. Whereas a Bill of Sale for a car records an event of transferring the car, the title indicates ownership of the vehicle. The latter contains critical information on the car, such as the brand, model, year, VIN, mileage, and information on the loan (if applicable).
When you buy a vehicle from a private seller, you must proceed to the title transfer and car registration. Once all necessary paperwork, including the Motor Vehicle Bill of Sale, is completed, you must take it to the local DMV office to initiate the registration process. This procedure varies by state. Make sure to contact your DMV before finalizing the purchase to find out what you need to do.
How Does the Vehicle Bill of Sale Protect the Buyer and the Seller? The Best Car To Lease
Buying or selling a car is always risky for all parties involved. While a Bill of Sale may seem like a mere formality, it helps make this process as smooth as possible. Here’s how this document benefits you.
- If you’re a seller: First and foremost, the document frees you, the seller, from liability if adequately drafted, dated, and notarized. If the buyer claims to have never purchased the car from you, the Bill of Sale provides evidence that you’re not responsible for anything that happens to the vehicle after the sale. Also, it’s worth mentioning that the document contains information on the price, which helps accurately figure out how much you need to pay in taxes.
- If you’re a buyer: Each Bill of Sale must describe the car's condition at the time of purchase. This way, you’ll ensure you’re not buying a pig in a poke. Also, if you purchase a car in a different state, you’ll have a certain number of days to register your new vehicle at your local DMV. And most certainly, its representative will ask you to provide a Bill of Sale to verify whether you paid the correct amount of tax on your out-of-the-state purchase.
The ABCs of Filling out the Form Used Car Lease Programs
Here’s some general information that a typical sample includes.
- 1. Date of sale
- 2. Name and address of the buyer
- 3. Sale price
- 4. Mileage
- 6. SSN (applicable in some states)
Please note that in some states, the seller must notarize the document.
If you want to draft this document confidently, avoid looking for Bill of Sale examples online to write it from scratch. Use US Legal Forms, a professional legal forms provider.
You can select from various templates created for different state-specific cases. As soon as you find the template, you can immediately purchase and download a printable bill of sale for a car! You will also get general tips and instructions on completing the document correctly.