How To Sell A Used Car Video

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It is important to complete an auto bill of sale form when selling or buying

a used car. For the seller, an auto bill of sale form provides proof that

title to the used car has been legally transferred. For the buyer, the auto

bill of sale form documents the purchase of the used car. The auto bill of

sale form should contain:

1. name and address of the buyer;

2. name, address and signature of the seller;

3. complete vehicle description, including the Vehicle Identification

Number(VIN);

4. description of trade-in, if any;

5. purchase price of the vehicle.

Auto bill of sale forms are required in many states to register the newly

purchased used car. These states usually require a state specific auto bill

of sale form that documents specific information such as the purchase price

for tax assessment or to obtain the actual mileage/odometer reading of the

used car. A generic auto bill of sale form will not be accepted in these

states. You will need to obtain a state specific auto bill of sale form.

To register a used car in other states, all that's required is that the

title assignment section on the title be completed and signed. Many of these

states have added to the title assignment section of the title the

information that was previously collected with separate documents (i.e.

odometer disclosure statement, sales price/tax statements, etc.). In these

states, an auto bill of sale form is not required to register the used car

and is used by the seller/buyer to document the initial sale/purchase of the

automobile.

A promissory note form is a written promise to pay money to someone. A

promissory note form can be used to create a legally binding agreement when

financing the sale of personal property, such as a used car. You can

complete a promissory note`s payment schedule to fit your needs. You set out

the terms of the loan in a secured promissory note form: how much is loaned,

the interest rate, the rate of repayment and the security interest.

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