How to Legally Buy or Sell a Used Car

It is important to complete an auto bill of sale formauto bill of sale form.
when selling or buying a used car. For the seller, anTo register a used car in other states, all that's
auto bill of sale form provides proof that title to therequired is that the title assignment section on the
used car has been legally transferred. For the buyer,title be completed and signed. Many of these states
the auto bill of sale form documents the purchase ofhave added to the title assignment section of the
the used car. The auto bill ofsale form should contain:title the information that was previously collected
1. name and address of the buyer;with separate documents (i.e. odometer disclosure
2. name, address and signature of the seller;statement, sales price/tax statements, etc.). In these
3. complete vehicle description, including the Vehiclestates, an auto bill of sale form is not required to
Identificationregister the used car and is used by the seller/buyer
Number(VIN);to document the initial sale/purchase of the
4. description of trade-in, if any;automobile.
5. purchase price of the vehicle.A promissory note form is a written promise to pay
Auto bill of sale forms are required in many states tomoney to someone. A promissory note form can be
register the newly purchased used car. These statesused to create a legally binding agreement when
usually require a state specific auto bill of sale formfinancing the sale of personal property, such as a
that documents specific information such as theused car. You can complete a promissory note`s
purchase price for tax assessment or to obtain thepayment schedule to fit your needs. You set outthe
actual mileage/odometer reading of theused car. Aterms of the loan in a secured promissory note form:
generic auto bill of sale form will not be accepted inhow much is loaned, the interest rate, the rate of
these states. You will need to obtain a state specificrepayment and the security interest.