If you plan to buy or sell a vehicle such as a car, boat, motorcycle or almost anything that has an engine you should use a Vehicle Bill of Sale and Promissory Note. This form will serve as proof that title to the vehicle has changed hands and will document certain information required under federal law when transferring ownership of a vehicle, such as mileage. Many states have their own Vehicle Bill of Sale form that you must submit in order to register your vehicle with that state.
A promissory note is a promise to pay and can be used as a written agreement that outlines the terms of payment for a vehicle over time. The terms of this agreement can be decided upon by the buyer and seller according to their needs.
Click here to get a Vehicle Bill of Sale and Promissory Note .