The date of the transaction should be included as well. It should list the make, model and build year of the vehicle, in addition to the vehicle’s identification number and the accrued mileage showing on the vehicle’s odometer at the time of the transfer.īoth the buyer and seller’s contact information should be listed including the parties’ names, physical addresses and phone numbers. Consideration can be money, another car, or anything else the two parties agree upon as fair compensation for the transfer of ownership of the vehicle.Ī typical bill of sale for an automobile transaction lists the seller, the buyer, and the amount of money (or whatever the seller accepted in trade) given in exchange for transferring ownership of the automobile. When signed by both the buyer and the seller, the Vehicle Bill Of Sale becomes a legal document acknowledging the acceptance of whatever consideration is offered in exchange for a given automobile. Upon satisfactory completion of the bill of sale, a notice of transfer, and a release of liability, the DMV will issue a new certificate of registration to the buyer. A bill of sale is typically requested at the Department of Motor Vehicles, along with a signed vehicle title transfer certificate, before the transfer of the vehicle’s title and ownership can be completed to the buyer. Basically, a Vehicle Bill Of Sale is the “receipt” a seller gives to the buyer of a car in exchange for the monetary or other agreed upon compensation for an automobile transaction.
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