Tutorial For Creating Car Sales Contract For Your Car Sales
There are several ways to sell a car, the first is via a car dealer or agent that will help you to sell your car. Or, you can also sell it directly to your buyer via online platform like Ebay or Craigslist.
Selling a car to a private buyer can be easier and less complicated. Similar to when you sell your car through an agent, you also need to make a Car Sales Contract with the other party. The contract is important to ensure both you as the seller and buyer won’t get any problem in the future regarding the transaction. The car sales contract document also serves as proof of the transfer of ownership of the car.
Bill of Sale
Instead of arranging your own car sales contract from a scratch, we can use a Bill of Sale template. This document is practical and can save our time.
A bill of sale contains the minimum information required to confirm that the transfer of the ownership of an asset has been done in a manner that was agreeable to both parties involved.
Go To DMV Website
A bill of sale form can be found on your local DMV’s website. Please do a small research for your state laws for buying and selling a vehicle. Don’t forget to check if they have standard form to download.
Provide Two Copies
make sure to get two copies of the form for both buyer and seller. You can fill out the form with your information about the car. The information can be Car Model, VIN, color of the vehicle, Current plate number, selling price and many more.
Sign The Bills
Both the buyer and seller need to sign the paper to make the transaction official
The Addition Section
In the Bill of Sale form, you also can find a section where you can put additional information. This is an important part. For example, you can use this part to state that the car that the other person receives is a gift. Thus, they don’t need to have an obligation to pay the transaction taxes.
Other than that, this additional space can also be used to strengthen the transaction agreement. You can add the status of the title in this part. The truth is if you want to sell your car, your car must have a clear title. If can’t be on liens or similar condition.
That’s how to make a Car Sales Contract using the Bill of Sale template. Make sure after you and the buyer sign the contract, you and the buyer have a copy of the contract. This will become a strong legal proof for the transaction. And, do not hesitate to ask the professional if you still confused about this contract.