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.
Bill Of Sale With Promissory Note For Automobile
State:
Montana
Control #:
MT-00431-C
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Montana Bill Of Sale For Automobile Or Vehicle Including Odometer Statement And Promissory Note?
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FAQ
A car promissory note is an agreement where a borrower promises to make payments in exchange for a vehicle. It typically has even terms throughout the loan, but often also includes a lump sum down payment at the beginning of the loan term. It also should include information about the make and model of the vehicle.
A promissory note can be used for different types of loans such as a mortgage, student loan, car loan, business loan or personal loan.
A promissory note is a promise to pay. So a bill of sale for an automobile with a promissory note is what you might expect from the (very long) name: A certification someone has bought, and promises to pay for, your car. In this case, likely in monthly installments.
When you write the promissory note, make sure to contain the following information:Name and address of the borrower and lender.Model, year, make, and VIN of the vehicle.Loan amount, interest rate, length of the loan, and maturity date.Late fees and penalties.Collateral information.Odometer reading.More items...
How to Write Your Own Vehicle Purchase AgreementIdentifying the buyer, the seller and the reason for the contract.Provide the buyers and addresses as well.Provide a description of the vehicle.Be sure that all the information is accurate.State the date of the sale and the purchase price.More items...