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Illinois Motor Vehicle Bill Of Sale Template PDF Free Download
Illinois Motor Vehicle Bill Of Sale
Registering a Vehicle
Whether acquiring a vehicle through purchase, gift, or inheritance, it must be registered with the state within twenty (20) days of the transaction.
All individuals purchasing a vehicle privately– that is, not through a dealership– are responsible for completing all paperwork toward registering the vehicle under the new owner.
Once registered, plates must be renewed annually; renewing a registration can be done online via the Vehicle Services page.
Vehicles can be registered in person at the nearest Secretary of State (SOS) office, or all documentation can be sent by mail.
Here is a list of all SOS facility locations.
Illinois Vehicle Bill of Sale Requirements
Illinois law does not require a vehicle bill of sale, which is a legal document that acts as a receipt and shows when ownership of a car is switched hands when it is purchased from an in-state dealer or individual.
However, new Illinois residents who lease vehicles must submit out-of-state titles or other proof of ownership, such as a bill of sale, when they apply for a title and registration.
Benefits of Creating This Document
Though Illinois does not require a bill of sale, there are benefits to creating and keeping one for your records.
Namely, it includes important information, such as the buyer’s and seller’s contact information, the date and location of the purchase, and the sale price.
Maintaining a record with this information protects the seller if the buyer abandons the vehicle or fails to register and title it.
Additionally, this document serves as a receipt for the buyer, as well as a helpful document that they can refer to when they are completing their taxes.
In Illinois, taxes must be paid on all vehicle sales.
Taxes are based on the model year of the vehicle if the selling price is less than $15,000 or on the selling price if it is more than $15,000.
What to Include in One
Since a bill of sale isn’t a legal requirement, Illinois doesn’t provide a form for buyers and sellers.
Buyers and sellers can create their own with the following information:
Buyer’s and seller’s names, addresses, phone numbers, and signatures
Vehicle sale price and when the final payment was made
Make, model, year, and Vehicle Identification Number (VIN)
Date and location of the vehicle sale
Odometer reading
The buyer and seller should keep copies of the document as proof of the transaction.
It is not required to have the document notarized; however, doing so adds credibility to a document.
Other Considerations
Language Requirements
The Illinois Secretary of State Driver Services recommends writing the form in English.
Junked Vehicles
Illinois requires that an owner submit the state-provided form for a Junked Vehicle (VSD 658), along with a Certificate of Final Disposition (VSD 657), if he/she has the lost the vehicle’s title certificate and plans to send it to a salvage yard.
The state will not accept any other bill of sale for junked vehicles.
Required Documents
Bill of Sale;
Odometer Disclosure Statement for Title Transfers (VSD 333.4);
Application for Vehicle Transaction (Form VSD 190), if filled online, it must be submitted to a local SOS office within seven (7) days;
Seller’s Report of Sale (VSD-703);
Certification of Title, signed by the previous owner;
Tax RUT-50 (obtained at SOS office);
Valid Illinois Driver’s License;
Registration Fees (typically $150-$165);
Proof of Car Insurance; and
Motor Vehicle Power of Attorney, if an agent will represent the seller or buyer in any vehicle-related matters.
New Resident Registration Requirements
New residents have 30 days to apply for an Illinois title and registration after establishing residency.
In addition to completing the Application for Vehicle Transaction, you must provide the following documents:
Name and Illinois address of the owner
Odometer reading from the vehicle odometer (do not include tenths of a mile)
Vehicle description, including the year, make, model, VIN, body type, date of purchase, whether it is new or used
Names and addresses of any lienholders in order of priority
Original signature(s) of owner(s)
For new residents who have leased vehicles, these documents must be submitted:
- Lease purchase agreement
- Out-of-state registration, verifying the vehicle was registered in another state
- Out-of-state title
- Manufacturer’s certificate of origin
- Bill of sale identifying the vehicle and the lessor’s name and address
The application must be accompanied by the out-of-state title or other proof of ownership, such as a bill of sale.
Vehicle Taxes
If you recently bought and have not titled or registered a vehicle you are bringing with you to Illinois, you must complete appropriate tax forms.
Tax form RUT-25 must be completed and submitted along with a bill of sale to the Illinois Secretary of State’s Office if the vehicle was purchased from a dealer.
Along with these documents and the application for vehicle registration and title, you must submit any applicable taxes payable to the Illinois Department of Revenue.
If the vehicle was purchased or gifted from an individual, tax form RUT-50 (Vehicle Use Tax Transaction Return) must be completed and submitted with the registration and title application and any applicable taxes.
If the department is questioning the vehicle’s purchase price, you can submit RUT-49 in lieu of a bill of sale.
The seller and purchaser must sign RUT-49.
Illinois Boat Bill of Sale Requirements
Any person who purchases a used jet ski or personal watercraft or watercraft classified in Illinois as Class 2, 3, or 4 from a retailer or individual in Illinois must submit a boat bill of sale and a number of other documents, according to the Illinois Department of Natural Resources.
You must submit:
A completed Watercraft Registration/Title Application
An original watercraft title or Power of Attorney form
If applicable, a lien release letter
A check or money order made payable to IDNR for any applicable fees
Bill of sale
In addition to these documents, if you bought a watercraft from a retailer, you must submit a RUT-25 tax form.
You must also submit a RUT-75 tax form if the purchase was made by an individual.
| Author | – |
| Language | English |
| No. of Pages | 3 |
| PDF Size | 1 MB |
| Category | Form |
| Source/Credits | eforms.com |
Illinois Motor Vehicle Bill Of Sale Template PDF Free Download