One of the most important documents in the process of selling or buying a used car from an individual is the bill of sale, an example of a completed bill of sales form may be found in a variety of places to help you out with this process. Look online for a bill of sale template or go to your local DMV with any questions you may have about the process of filling out the bill of sale. The bill of sale is important because it serves as your primary legal proof you've completed the transaction involving the car in question. If you should ever need to prove in court the sale was completed, the particular car was sold, or the amount of money you claim the cost of the car was for is accurate, the bill of sale form is the primary way to do this. Read on to learn about how to fill this form out properly.
Use the Right Form
The DMV branch office in your area is the best resource you have for a generic bill of sale template for you to use. There are two types of used car bills of sale. The first is the generic form that can be used for any transactions around the country, and the second is the state specific form. Ask your DMV representative which is the best form for you to use. While it's true you can write up your own bill of sale without using a form, it's best you obtain one of these forms so you have the correct information listed in the proper way.
Fill the Form out with the Other Party
Once you've obtained the form, you can gather together the other party who is involved in the transaction and complete the process of filling out the bill of sale. You'll both need to write your names, addresses and telephone numbers under the contact information section. Next, you'll have to identify the vehicle that is being sold. You can do this by including the make, model, production year and VIN for the car (VIN stands for vehicle identification number, and can be found on the inside of the windshield of most cars). You'll also need to include the odometer reading at the time of the sale in some states. Third, include the amount of money you and the other party have agreed upon to exchange in payment for the car. Finally, both you and the other party will have to sign and date the form to make it official.
Determine What to do with the Form
After you've completed the bill of sale, it's important you know what to do with it. Check in with your local DMV. Some states require you inform the DMV of the sale within a few days of the writing of the bill. In either case, both you and the other party should obtain and maintain completed copies of the form for your records.