Why Use A Vehicle Bill Of Sale During A Car Sale?

For most people, the sale or purchase of an automobile is a big financial transaction. In case you intend to sell a car, a bill of sale is an important document that you must never ignore. It can be very assistive during a sale or purchase process. Find out why you should use this type of a car bill of sale when you are selling a car.

Legal protection

It can safeguard your legal interests, and serve as a proof that a transaction actually occurred. This is very important information in case anything goes wrong with the car, and the buyer feels that the seller knew something about the car and deliberately concealed information. Without this document, the new owner can pass off his speeding and parking tickets incurred on the vehicle to the prior owner and say that it is his responsibility to clear the same. It is very important that both parties – the buyer as well as the seller – sign the document.

More convenient registration process

An auto bill of sale form is very complex, at least much more complex than retail store receipts. In the majority of states, it has to include comparatively detailed info, such as the Vehicle Identification Number (VIN), year of manufacture, odometer reading, model, make and other important details. This kind of information can make it easier to register the vehicle in the name of the new owner, as many states need such details at the time of registration.

Needed by the law

In a few states, it is financially and practically sensible to get a bill of sale. A vehicle bill of sale is also required by the law. Most states also need to specify all the requirements for the types of details that need to be included in these sale forms. In some states, the law specifies that automobile bill of sale forms should be notarized. You have to find out about the laws in your own state and keep in mind that a bill of sale does not prove ownership. You will require a title transfer for the purpose of ownership.

Author Resource:-

Carl writes often about online legal drafting like affidavit, bill of sale and release/ waiver agreement to help the people. You can find his thoughts at bill of sale document blog. For more information about getting a bill of sale in Wisconsin, please visit this website.

About This Author

Carl Glendon Joined: October 4th, 2017