Bill of Sale in North Carolina
If you purchase your vehicle from a dealer, they must provide a bill of sale for you as proof of purchase. This is needed to title a vehicle or to transfer a vehicle's title to a trust. The bill of sale is also used to calculate Highway Use Tax. (If you purchased it from an individual, the tax is calculated according to a table of values kept by the Division of Motor Vehicles.)
When purchasing a vehicle from a dealer, you should receive a bill of sale that lists the following information, if possible:
- Name and address of the buyer/trader.
- The date of the sale or trade.
- The name and address of the motor vehicle dealer, manufacturer, factory branch, distributor, distributor branch or wholesaler that sold or traded the vehicle.
- The odometer reading.
- The vehicle's model, year, make, body style, and vehicle identification number (VIN).
- The sale price of the vehicle.
- The amount of the buyer's cash down payment.
- A description of vehicles used for trade-in, if applicable, and the amount credited to the buyer for the trade-in. Include model, year, make, body style, and VIN.
- The amount of finance charges, if any, and interest.
- The cost of insurance to the buyer, if any, and an explanation of the type and amount of coverage.
- Any charges for investigations, service charges, and any other charges not listed above, plus the purpose for each.
- The amount of the net balance that the buyer owes.
- Deferred payment amounts, time and schedule of deferred payments and to whom the payments will be made.
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