Are you selling your car? Then, you should enter into legally written agreement to show the payments and car ownership transfer. Verbal agreements may create disputes in future and may harm the cordial relationship enjoyed by both parties.
In America, Vehicle Sale Bill is necessary for any type of vehicle sale transactions. The reason being, such agreement is written documentary proof of the vehicle sale transaction between the buyer and seller, ownership transfer, mode of payments and location of the sale. Such sale bill is also essential for legal tax authorities for determining the taxes. Even legal courts demand, written evidences for the settlement of any disputes.
A Vehicle Bill of Sale can be defined as written agreements between owner and buyer for sale of vehicle and ownership transfer by accepting specific compensation for the vehicle. The owner also proves his ownership of thee vehicle at the time of sale and bears full responsibility of any dispute regarding the ownership at distant future date.
Vehicle Sale Bill contains following provisions for owner and buyer:
•Contact details of both parties
•Date and time of the contract
•Color, Make, Model, and Mileage of the vehicle
•Mode of Payment
•Registration and Identification Numbers
•Equipments transferred with the sale
•Location of the vehicle
•True Ownership of the original owner
•Offer Warranty and Guarantee on the vehicle
•Signature of both parties
This agreement can also be notarized for recording and can be produced in the court for settlement of any disputes.
If you are also selling your car, you can download Vehicle Bill of Sale and print it, for entering into agreement with the buyer.
Free Printable Bill of Sale Colorado Template – download