Top Who Needs a Bill of Sale?

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.)

Top What is on a Bill of Sale?

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 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.

Both the buyer and seller must sign the bill of sale. When you go to a vehicle and license plate renewal office to register your vehicle, be sure to bring the bill of sale with you.

Top Generic Bill of Sale

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