Why a Bill of Sale is Important
A Bill of Sale states that a vehicle (or other items) has been sold. This is a useful document when you’re buying or selling a car privately when there isn’t as much of a paper trail as there is at a dealership. A Bill of Sale is one more way of verifying a sale has taken place, and in some cases, this may be useful in proving you are no longer liable for the vehicle.
Who Needs a Bill of Sale?
For the most part, the seller just needs a Bill of Sale for his own records, but on the other side of the equation, the buyer might need the form in order to complete the title transfer and register the vehicle. If you show up to the DMV or your local vehicle registration branch without a Bill of Sale, the attendant might turn you away until you can show the proper paperwork with the car’s purchase price.
Another important reason why a Bill of Sale is so necessary during title transfers is because some motor vehicle agencies use this document to calculate the vehicle’s license fee.
- A description of the vehicle and its vehicle identification number (VIN).
- Any warranty that may have been agreed upon (or mentioned sold as is)
- The final sale price of the vehicle.
- The name of the buyer and the seller.
- The county and state in which the vehicle was sold.
- Date of transaction
- Signature and addresses of both parties
Bill of Sale vs. Title Transfer
While a Bill of Sale is an essential part of the sale process, it generally does not prove ownership; only a title transfer proves ownership of a vehicle. In order to fully complete the sale, remember to transfer your title right away.
Bill of Sale Forms
A Bill of Sale is an important part of any vehicle sale; however, it is not the only thing you’ll need to consider.
- No sale is final until you complete a title transfer. Without this step finalized, the seller may be liable for fines and violations associated with the car.
- As a buyer, BE SMART. Don't get saddled with a lemon. Order a Vehicles Report to know for certain you're buying a gem.
Depending on the state you live in, your state’s motor vehicle department may require you to obtain a Bill of Sale. A Bill of Sale can be an important part of any vehicle transaction for both the buyer and the seller.
Premium VIN Report: Don't Sign Without It!
Premium VIN Report reveals information about a vehicle’s past, including details about:
- Previous owners.
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- Full mileage history from the DMV
- Market value (Based on mileage condition *estimates from industry averages)
- Vehicle use records (commercial, lease)
- Title & Problem verifications
- Safety Recalls
- Over 60 checks included in every vehicle report
Before you even consider signing a Bill of Sale, you must make sure your purchase will be a good one. To obtain details on a potential purchase, run a history report and conduct a safe transaction today Vehicles Report/VIN checks.
Premium VIN Report contains up-to-date information to the second from state & federal databases about the vehicle’s complete history. Simply enter the VIN number of any car, truck, trailer, motorcycle, classic cars, RV, motor home to obtain the complete history and specifications. Our comprehensive VIN check is used by customers around the world including the largest dealers & auctions in North America.
Premium VIN Report is an unbiased report that reveals the overall information about any vehicle’s background. You can check various information about any vehicle such as vehicle registration specifications, recall information, loan history of the vehicle, mileage records, how old the vehicle is, the number of previous owners, accident or auction records. This way, you get to know all the necessary details about the vehicle you are planning to buy or sell. Simply provide the vehicles VIN number in order to pull up an instant detailed vehicle report on any car, truck, trailer, classic cars, RV, motor home or motorcycle.
Premium Vin is a tool that will enable you to know how the car has been taken care of by the vehicle’s previous owners. Details about insurance claims, accident records, loan & liens, police reports, service records or manufacturer recalls will come up in the search. Each report will check the following:
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Premium VIN offers a wealth of information about used cars and their past. We have one of the largest used car databases in the world that obtains information from State & Federal records ensuring 100% accurate and up-to-date records. With access to over 21 billion records, we guarantee you will always receive an in-depth history report. Simply enter your VIN Number and pay for the records to instantly view the report within minutes.
A VIN check can help you avoid scams and ensure your vehicle is in good shape. It is useful when selling a vehicle as data shows 35% off sellers providing a history report get their asking price and sell their vehicles faster. When buying a used car, always run a history report when dealing with a private seller or dealer to ensure you know what the vehicle has been through. Enter your VIN and get up to date information by running a vin check today. Here are 4 red flags that we’ve highlighted that come up as costly mistakes if a vehicle hasn’t thoroughly been checked.
– Has the car previously been written off? All this means is that it was decided that the repairs off the car would cost more than what the vehicle is worth. If a car has been written off or issued a salvage title, there’s a good chance it has some invisible damage or shoddy repairs that should be verified. Many of these vehicles are exported to overseas markets.
– Is the car still under finance? If the car is still under finance, the seller should warn the buyer. If you have only found out through the history report, contact the seller immediately to get proof that the vehicle has been paid off. We have seen numerous cases where customers purchase a vehicle with a loan/lien only to have it reclaimed by the financial lender even if the previous owner had the debt under their name, costing the customer thousands of dollars.
– Has the odometer been rolled back? This is one of the easiest ways to see if the seller is trying to rip you off. If our vehicle report shows inconsistencies with the mileage, then it would be in your best interest to walk away from the transaction.
– Is it poorly maintained? If the car has a very poor history, then its a long way from good as new and will likely not be as reliable as other options out there. Always have options and purchase the additional report package to run several vehicles and choose the one that has the most reliable history.
Being the most advanced and comprehensive used car, truck, and motorcycle VIN check, Premium VIN accesses the most up-to-date record available on the vehicle from federal and state databases. If you are planning to buy or sell a used vehicle, you need to be well-informed about its background, and this is where Premium VIN can help. It provides an unbiased vehicle history report and gives information about the vehicle’s past. Premium VIN takes any vehicle’s VIN number to generate a comprehensive report for that vehicle. The report contains various information about the vehicle such as registration details, vehicle specifications, vehicle recalls, accidents, loans & liens, and many other important points.