An auto bill of sale is required while purchasing or selling a car in a private sale. It comprises of important information regarding the vehicle as well as the seller and the buyer, and needs to be used for a transfer of the ownership of the vehicle.
It is possible to find an auto bill of sale template online which can be used and customised for or specific usage. A standard car bill of sale document includes important information, such as full name and address of buyers and sellers, vehicle identification number, vehicle information, vehicle cost, signature of both buyers and sellers etc. Find out about some of the optional pieces of information that may or may not be included in the document.
The reading on the Odometer of the car in question can be mentioned in the document, in order to avoid any confusion or arguments in the future.
The phone numbers and other contact details of all the people involved, starting with the buyers and sellers as well as the witnesses, can also be specified in the document.
In case there is a need to get in touch with the parties involved in future, the presence of the contact details in the Arkansas bill of sale document can make the task very easy.
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The optional information that you can include in an auto bill of sale document
Personal identification information
It might also be a good idea to mention personal identification details of all the parties and witnesses who are involved. The signatures of witnesses and both parties – that is the buyer and the seller – must be there in the document.
Any encumbrances or liens against the vehicle in question
It can be mentioned whether the payment for the vehicle was made in full or whether some amount is remaining. The method of payment such as money order, cheque, cash etc can also be specified in the document. The terms of payment, if any, can be mentioned as well.
The add-on information in an auto bill of sale document you must know
In most of the jurisdictions out there, there is no need for the Bill of Sale to be signed by the parties before witnesses. However, in case of any dispute in ownership matters, it can be a good idea to have objective witness offer evidence that the buyer and the seller signed the bill of sale in good faith.
It can be a good idea to have a minimum of one witness, particularly in case the parties happen to be individuals rather than companies.
Other important things – such as special conditions of the sale, where the vehicle was registered for the last time etc can also be specified. A comprehensive bill of sale needs to be used by automotive businesses, which should include specific information about the sales agreement and the vehicle itself. You may also get a free bill of sale Arizona form from this website.
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