A Motor Vehicle Bill of Sale is required in most states in order to complete a transaction involving a motor vehicle. It’s an important document especially in the private market by individuals and used car sales.
How to write a Motor Vehicle Bill of Sale?
The document records the transaction and it can be used as proof of purchase, much like a receipt. It should include the following information:
- Date of Transaction (Sale Date)
- Year, Make, and Model
- Vehicle Identification Number (VIN)
- Purchase Price
- Name/Address/Signatures of Buyer and Seller
This is how you use it
Not only is a Motor Vehicle Bill of Sale used to show proof of purchase, but it also acts as a valuable document for both the buyer and the seller. For the buyer, he or she can use a copy of the Vehicle Bill of Sale when going to the DMV when submitting the Title to transfer ownership, as many states require a Bill of Sale when submitting a Title transfer.
As for the seller, a Motor Vehicle Bill of Sale indicates that the vehicle is no longer in their possession, which is important if the new owner gets into legal trouble with the vehicle (traffic tickets, accidents). The seller is mainly responsible for drafting the Motor Vehicle Bill of Sale prior to the transaction.