Why You Should Use An Auto Bill Of Sale!

If you are about to sell your car or buying a used one, then it is important that the sale is recorded with an auto bill of sale form. For the seller, a bill of sale is useful as it provides evidence that the vehicles title has been legally given to another party. For the person buying the vehicle, an auto bill of sale documents the transaction and is proof of purchase. There are several things that each bill of sale form needs to contain. The names and addresses of both the buyer and the seller, a description of the automobile as well as the purchase price should all be documented.

An auto bill of sale form must be provided before a vehicle can be registered in the new owners name in nearly every states. The main reason this is required is to record the vehicle sale price for tax assessment as well as to record the odometer reading, which is used to counter odometer fraud.

A bill of sale form that fails to provide all the stated information will in many cases not be accepted and the vehicle will not be able to be registered.

Although there are one or two states that do not require a bill of sale form in order to finalise your vehicle registration, purchasers of used cars are still advised to complete such a form for their own protection and peace of mind.

Completing a bill of sale form will take just a moment but will give the used car buyer security about their vehicle purchase and the money they have spent.

Buying or selling a vehicle through a private sale is something that a lot of people will do at some time in their life. Most people understand the need to fill-in an auto bill of sale form when purchasing a vehicle, it is also just as important to protect yourself when you are offering your vehicle for sale..

The term odometer fraud is defined as the act of turning back the odometer so that the vehicle looks to have travelled fewer miles than it truly has. This is done to receive a better price for the vehicle when sold. Records show that almost half a million vehicles are sold every year in the US with odometer readings that are not correct.

An all too common scenario is as follows. A vehicle is purchased privately and an auto bill of sale form is not used. The new owner rolls back the odometer and then re-sells the vehicle for a higher price than they purchased it for. At a later time the fraud is discovered and all previous owners of the vehicle are questioned to determine when the fraud occurred.

The easiest way to record the odometer reading at the time of sale is to use an auto bill of sale form. Even if the original owner of the vehicle can clearly remember the odometer reading when the car was sold they will have a difficult time proving that was the case.

It is suggested that anyone selling an automobile privately should utilise a auto bill of sale form with the following pieces of information. It must have the names of both the buyer and the seller. The specifics of the vehicle being sold including the make, model and age of the vehicle. It must include the price at which the vehicle was sold. It must state the odometer reading and the VIN. Lastly it should be dated and signed by both parties.

In order to avoid any difficulties and to protect yourself from being investigated for in odometer fraud, always use an auto bill of sale form when you plan to sell your vehicle through a private sale.