This forms package contains a Bill of Sale, Odometer Statement and Promissory Note. It is for the situation where the Buyer may be making a downpayment and paying the balance over time.
Auto Bill Of Sale Illinois With Lien Holder
State:
Illinois
Control #:
IL-00431-C
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Illinois Bill Of Sale For Automobile Or Vehicle Including Odometer Statement And Promissory Note?
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FAQ
You can submit a bill of sale, receipt or canceled a check. If that is not possible, just submit a notarized statement of how you were able to acquire the said vehicle. Submit a written appraisal of the vehicle's current wholesale value for a licensed vehicle dealer.
To obtain a title for a vehicle without the proper surrender documents, the following items must be submitted to the Secretary of State's office: 1. Evidence of your right to acquire a title, such as a bill of sale, receipt or canceled check.
In Illinois, the only legally required documents to sell a car are your title and registration. Provided these two documents are in good order, you are ready to sell the vehicle. If the title has a lien on it, the lien will need to be paid off before you can sell the car.
If the title has a lien on it, the lien will need to be paid off before you can sell the car. A dealership can purchase a vehicle with a lien, but a private buyer cannot. This means that if you owe money on your vehicle, you'll have to make arrangements to have it paid off before transacting the sale.
On the front of the title, you will complete the bottom block called ASSIGNMENT OF TITLE. On the first line print the buyer(s) name and address. Fill in the odometer reading in the space provided. Enter your mileage EXACTLY AS IT APPEARS ON YOUR ODOMETER.