Motor Vehicle Bill of Sale Form
A Motor Vehicle Bill of Sale document is used for the legal sale of a personal or commercial automobile from one individual to another person. Cars, trucks, and small vans all fall into this category as they serve as a means of transportation for people and cargo. A bill of sale is also referred to as a receipt because it shows that a buyer purchased a vehicle from a seller (opposed to stealing or borrowing it). Both parties should make sure that it is filled out as accurately as possible considering its importance in proving the transfer of the vehicle.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
Commonly Asked Questions
The list below contains frequently asked questions along with answers.
How Do You Sell a Vehicle?
Selling a car takes time and few detailed steps. First, consider the quality and cleanliness of the vehicle. To make it look its best, clean it thoroughly on the inside and outside.
The next step after washing is the selling process. Some owners prefer to use online services, while others advertise locally. They may also utilize the offerings of a nearby dealership. Generally, private sales are more profitable since dealerships collect fees for selling.
If you decide to sell privately, choose a realistic price based upon the car or truck’s value. Online appraisal tools give you a clearer idea of how much to charge. After settling on the price, list the vehicle on an online service or through local paper ads. To catch the eye of shoppers, use attractive photos and write a detailed description of the vehicle’s condition.
Private sales require more trust from the buyer, so it is important to remain friendly throughout the touring process. Since they may be on the lookout for scams or reasons not to buy, work with them to alleviate their concerns and answer all questions honestly.
Buyers often try to negotiate. While the end goal is to sell the vehicle, you want to do so at a reasonable price. Prepare for this situation by considering the lowest value you will sell for and sticking to that amount. Once you and the buyer agree on the price, move onto the form-filling step and include a bill of sale in the process.
Can You Sell a Vehicle With an Unpaid Loan?
If the loan is not paid off on a motor vehicle, you can still sell it. The only difference in this scenario is that you must pay your lender in full before collecting the funds. It is recommended to talk with your loan provider before selling to sort out the details.
How Much is a Vehicle Worth?
New cars, trucks, and vans usually depreciate after purchasing; however, their worth depends on a few factors. Their make and model, year, condition, and even color can affect their worth. Online tools, like Kelley Blue Book and NADA, provide estimates so you can set an ideal asking price. Without using an appraisal service, it is possible to under-or overvalue your vehicle. If you set the price too low, you will lose out on money. If you set the price too high, buyers will be less interested and it can take longer to sell.
Can You Sell a Vehicle Without a Title?
Laws differ when it comes to selling a vehicle without a title. Some states allow sellers to transfer ownership even when there is not a title present. However, in those situations, it is likely that you and the buyer will have to complete other forms instead.
On the other hand, many other states declare it illegal to sell a vehicle without a title. Before selling, owners must then acquire a new one through their local motor vehicle office.
How Do You Sell a Vehicle for Parts?
If your automobile has a very low value, it may be more beneficial to sell it for its parts. Sometimes the parts may be worth more than the vehicle as a whole. For example, the parts might sell for anywhere from $500-900, even if their overall value is much lower.
Similar to the process of selling a car, posting online can bring in buyers. Local scrap yards or junkyards could also be another option to sell parts.
What Do You Need to Sell a Vehicle?
Before putting your vehicle up for sale, it can help to find and organize the necessary paperwork. Listed are a few common items that are important in the selling process.
- Bill of Sale
- Vehicle History Reports
- License Plates
- Maintenance Records
- Warranty Documents