How to Legally Buy Or Sell a Used Car

It is important to complete an auto bill of sale formauto bill of sale form. To register a used car in other
when selling or buying a used car. For the seller, anstates, all that's required is that the title assignment
auto bill of sale form provides proof that title to thesection on the title be completed and signed. Many of
used car has been legally transferred. For the buyer,these states have added to the title assignment
the auto bill of sale form documents the purchase ofsection of the title the information that was
the used car. The auto bill of sale form shouldpreviously collected with separate documents (i.e.
contain:odometer disclosure statement, sales price/tax
1. name and address of the buyer; 2. name, addressstatements, etc.). In these states, an auto bill of sale
and signature of the seller; 3. complete vehicleform is not required to register the used car and is
description, including the Vehicle Identificationused by the seller/buyer to document the initial sale
Number(VIN); 4. description of trade-in, if any; 5.purchase of the automobile.
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 out the
actual mileage/odometer reading of the used 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.