North Carolina Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
What is this form?
This form package includes a Bill of Sale for an automobile or vehicle, an Odometer Statement, and a Promissory Note. It serves as a legal record of the transaction between a seller and a buyer, particularly when the buyer makes a down payment and agrees to pay the remaining balance over time. This form differs from a standard Bill of Sale in that it includes financial terms and odometer verification, which are crucial for vehicle transactions involving installment payments.
What’s included in this form
- Bill of Sale: Details the exchange of the vehicle, including purchase price and buyer/seller information.
- Odometer Statement: Confirms the vehicle's mileage at the time of sale, with options to address discrepancies.
- Promissory Note: Outlines the payment terms, including the down payment and the balance to be paid over time.
- Signatures: Requires signatures from both the buyer and seller to validate the agreement.
- Notarization Section: Provides space for a notary public to attest the signing of the documents.
When to use this document
This form should be used when selling an automobile or vehicle and the buyer intends to make a down payment followed by installment payments. It is relevant when the seller needs to retain some ownership rights until the buyer completes payment. The form is also useful when the seller must certify the vehicle's odometer reading to comply with legal requirements.
Intended users of this form
- Individuals selling a vehicle and willing to accept payment in installments.
- Buyers who are purchasing a vehicle and agree to a payment plan.
- Anyone needing a legal record of the sale, including proof of odometer reading.
- Parties engaged in a vehicle transaction that needs to be notarized for added legitimacy.
How to prepare this document
- Identify the seller and buyer by entering their names and addresses.
- Specify the details of the vehicle, including make, model, year, and VIN.
- Complete the purchase price and down payment amounts.
- Fill in the odometer reading and verify its accuracy.
- Sign the Bill of Sale in the presence of a notary public.
- Complete the Promissory Note to outline payment terms and agreements.
Does this form need to be notarized?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to provide accurate vehicle details, including the VIN and mileage.
- Not signing the document in front of a notary public when required.
- Leaving important financial details, like payment amounts, incomplete.
- Neglecting to retain a copy of the signed form for personal records.
Why complete this form online
- Convenience: Download and complete the form from anywhere at any time.
- Editability: Easily make changes to the form as needed before finalizing.
- Reliability: Use legally vetted templates created by licensed attorneys.
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FAQ
The date of the sale. A description of the car, including its: Year, make and model. The selling price of the car. If the car is a gift or partial gift, you should still create a bill of sale. Warranty information. The full names, addresses and signatures of the buyer and seller.
A bill of sale is only legally required in North Carolina when you purchase your vehicle from a car dealership.Your bill of sale will also be needed when you go to title your vehicle, or if the vehicle's ownership becomes part of a trust.
When writing a bill of sale, make sure it contains: the seller's name and address, the buyer's name and address, a description of the item being sold and if it's for a vehicle make sure to include, the vehicle identification number, the date of transaction, the previous owner, the amount paid, the method of payment and
The bill of sale must be notarized by a notary public and include identifying information about the vessel, information about the buyer and seller, the date of the transaction, and the sale price.
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"
You not need both parties to be physically present at the time of notarization, but you can only notarize for the person who is appearing before you. The other person can have their signature notarized at another time. Kelle Clarke is a Contributing Editor with the National Notary Association.
Alabama. Arkansas. Colorado. Connecticut. Hawaii. Idaho. Maine. Nebraska.
Buyer's and seller's name, address, and driver's license number. Description of the firearm. Serial number of the firearm. Date of the transaction. Purchase price. Signatures of buyer and seller.
