Law

How is An Auto Bill Of Sale Important?

An Auto Bill of Sale is a form that is needed while buying or selling a used vehicle. This kind of document serves a proof for the seller that there has been a legal transfer of the title. This type of form also helps buyers by documenting that they bought the used vehicle. Read and find out why this kind of document is so important these days.

Includes all the vital information about the car

An auto bill of sale form consists of all the vital information, such as:

  • Signatures of both parties
  • Odometer reading
  • General condition of the car
  • VIN (vehicle identification number)
  • Sales price of the car
  • Make and model specifics
  • Seller’s statement, confirming no outstanding monetary liabilities on the vehicle
  • Names and addresses of both parties – buyer and seller

Often, people encounter various kinds of issues which can happen in future due to badly prepared and hastily written documents. There is a need for a proper auto bill of sale, so as to provide both parties with maximum legal protection. While purchasing a car, you always need to get an auto bill of sale and include all the details about the vehicle on it, signed properly by the seller. It proves that the car was sold to you legally, and there has been a title transfer to you – the buyer. For sellers, it is essential to have a copy of the bill of sale – given that it contains the purchase price agreed on. When you get one, it can help avoid all kinds of disputes.

Protects from fraud

The Bill of Sale AZ happens to be a vital legal document, given that it can help safeguard seller’s as well as buyer’s interests. It is often found that in most sales transactions, there is deliberate use of fraudulent practices. It is particularly witnessed when a “No Bill of Sale” document is utilized during the point of sale.

When a used vehicle is purchased in a private way, it can put purchasers at risk of various things, like:

  • Purchasing a stolen vehicle
  • Purchasing a vehicle with a changed odometer
  • Purchasing a vehicle with financial liabilities pending

With these kinds of activities, it is often the case that these are often not discovered after some point of time. It is not always that convenient to determine who actually was responsible. You can be cleared of charges of any wrongdoing when you can show a used car bill of sale AZ – showing that you purchased the vehicle from a specific person at a specific time, and mention the odometer reading at the time of purchase.

Needed in most states

Most states in the US need this kind of document, before buyers are allowed to register the vehicle in their name. The DMV (Department of Motor Vehicles) requires this important document and also for many other ownership proofs, prior to changing the registration. In many states, a newly purchased used car must be registered.

There are many benefits of using such a document, at any time that you intend to purchase a car privately. You are advised to get a professional used car bill of sale form, which can help anybody to easily and quickly get professional used car bill of sale as well as protection.

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