3 Things You Need to Know About a Used Car Bill of Sale Form
Many habitancy have heard of a bill of sale. However, few authentically take the time to use them and fewer still authentically understand the benefits and safety they provide. In this record I will talk some of the most often asked questions with regard to used car bill of sale forms.
3 Things You Need to Know About a Used Car Bill of Sale Form
Do I Have To Use A Bill Of Sale When Buying A Used Car?
The majority of states in the Us do in fact need a bill of sale before they will allow you to register the car in your name. The group of Motor Vehicles will need this as well as other proof of ownership before changing the registration.
What information Should I Put On A Bill Of Sale Form?
When completing a used car bill of sale form it is recommended to consist of the following;
- price at which the vehicle is to be sold.
- general health of the car.
- make and model specifics.
- Vin (vehicle identification number).
- names and addresses of the buyer and seller.
- odometer reading.
- statement by the seller attesting that no money is owed on the vehicle.
- signatures of both parties.
How Can A Bill Of Sale Form protect Me From Fraud?
Buying a used car confidentially can put you at risk of some things such as buying a stolen vehicle, buying a car that has had its odometer altered to show a smaller amount of miles traveled than it authentically has or even buying a car on which a lien is held. As is often the case with such activities, they are not often discovered until some time later and determining who was responsible is not all the time easy. Being able to yield a used car bill of sale showing when and from whom you bought your car from as well as the odometer reading at the time will swiftly clear you of any wrongdoing.
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