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Motor Vehicle (DMV) Bill Of Sale Form PDF Free Download
Vehicle (DMV) Bill Of Sale
Do I Need a Motor Vehicle Bill of Sale?
In some states, it is mandatory that all individuals taking part in the sale/purchase of an automobile carry out a bill of sale.
Other states may not require the execution of this agreement, but it is still suggested to fulfil as it can be very beneficial to have a physical record on hand.
The buyer may present the document to the DMV in order to disclose the purchase price and pay the necessary sales tax when registering the vehicle.
The seller should also retain a copy as it can provide evidence that they are no longer liable for the vehicle.
What Should It Include?
The form should include the following:
Buyer’s name and address
Seller’s name and address
Vehicle description (i.e. make, model, year, and body style)
Vehicle identification number (VIN)
Transaction details (i.e. purchase price, trade, or gift)
Warranty details (usually sold on an “as-is, where-is” basis)
How to Privately Sell a Used Car
If you are looking to sell your used car, there may be some things you should consider.
A lot of times people feel timid at the thought of marketing and selling their own car, and instead, sell their vehicle to a dealer.
The truth is that the dealerships typically undercut the value of your car so that they can make a substantial profit.
So what we have done is created a step-by-step process showing how you can sell your vehicle privately for the best price.
Step 1 – Pricing the Vehicle
The first thing that is going to need to be addressed is the price.
What is the vehicle worth? The most popular way of figuring this is by using Kelly Blue Book.
You can look up your car’s value by providing information such as the vehicle details, condition, and any extra features it may have.
Once you input all the necessary information, KBB will calculate the value of the vehicle.
They provide a “Trade-in Value” and “Private Party Value” (you may notice that the PPV is higher than what you would get for a trade-in).
Step 2 – Collecting the Paperwork
When you’re getting prepared to sell your car, it is important to have all the vehicle’s paperwork readily available.
A missing title can take days, even weeks to receive a duplicate copy from the state.
That’s why it is essential to collect the necessary documentation prior to meeting with potential buyers.
Be sure to gather the following paperwork:
Bill of Sale (2 blank copies for each party to complete upon transfer)
Certificate of Title
Receipts for Repairs and Maintenance
Vehicle Warranty Information
Odometer Disclosure Statement
Vehicle History Report
Step 3 – Advertising Your Vehicle
Once you have established your vehicle’s worth and have all the necessary paperwork at your fingertips, it’s time to list the vehicle for sale.
In the past, people were limited to only a few different types of advertising outlets.
The standard used to be posting an ad to a local newspaper or magazine, or putting a “for sale” sign on the car and parking it along a busy street.
Luckily today, the internet enables us to reach a far greater audience by using some of the classified ad websites that we have at our disposal.
Some user-friendly websites that are great for advertising automobiles would be:
AutoTrader – One of the most popular websites that specifically cater to the online sale and purchase of automobiles.
eBay Motors – The website “eBay” contains its own motor vehicle division that is dedicated to the sale of cars and trucks.
CraigsList – Advertise to local buyers by going to the “for sale” section and posting under “cars+trucks”.
Step 4 – Coordinate a Meeting with a Potential Buyer
After posting your ad, it is only a matter of time before you start receiving emails and calls regarding your vehicle.
Be prepared to answer any questions concerning the car.
If the inquiring party is interested, schedule an appointment to meet at a specific time and place to show them the vehicle.
Be sure to thoroughly clean the vehicle inside and out prior to the encounter, making sure that it is in top-notch condition.
At the showing, allow the interested party to inspect the car and be sure to disclose any pertinent details related to the vehicle.
(Note: Sometimes a buyer will request a pre-purchase inspection before committing to any type of sale.)
Step 5 – Coming to an Agreement
If interested in purchasing the vehicle, the buyer and seller should discuss how the transaction will unfold.
Sometimes the buyer is willing to pay the full listing price which makes it easy for the seller, but a lot of times the buyer will want a discount on the initial asking price (keep this in mind when pricing your vehicle, it is always good to have a little wiggle room for negotiations).
|No. of Pages||3|
|PDF Size||0.2 MB|
Motor Vehicle Bill Of Sale PDF Free Download