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The very first action you need to take with an Arkansas Auto Bill Of Sale With Lien is to ensure that it is the most recent version, as it determines its eligibility for submission.
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A Bill of Sale typically includes:The full names and contact information of the buyer and seller.A statement that transfers ownership of the item from the seller to the buyer.A complete description of the item being purchased.A clause indicating the item is sold "as-is"The item's price (including sales tax)More items...
On this form, you enter basic vehicle information like the year, make, and model plus the odometer reading, the purchase price, and signatures from both the buyer and the seller. While a bill of sale isn't required for every private party vehicle sale in Arkansas, it's always a good idea to have one.
Complete, sign, and date the Arkansas vehicle title as the seller Provide the buyer with an Official Release of Lien or Permission to Issue a Replacement Title (Form 10-315) and all other applicable documents. Provide an Odometer Disclosure Statement (Form 10-313) IF the vehicle is less than 20 years old.
All bills of sale in Arkansas, however, must contain the following information:The names, contact information, and signatures and the buyer and seller.The vehicle identification number or VIN.The make, model, and year of the vehicle.The selling price.The purchase date.The odometer reading.