Arkansas Vehicle Bill of Sale and Promissory Note
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Used for the sale of a vehicle like a car, van, truck, trailer or motorcycle with installment payments. It offers the option to sell the vehicle "as is" or with a warranty.
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The Automobile/Vehicle Bill of Sale form in this packet is designed to document the terms and conditions of the transaction and to protect the rights of both the seller and buyer. This legal form is also helpful for accounting and tax purposes and includes the make, model, year, mileage, and vehicle identification number (VIN) of the vehicle. The buyer can use an Automobile/ Vehicle bill of sale form to help prove ownership of the vehicle.
An Odometer Disclosure Statement is also included in this packet since federal law provides that the seller reveal the mileage upon transfer of ownership.
This Vehicle Bill of Sale form also allows the option to sell the vehicle “as is” or with some type of express warranty.
The Promissory Note for Purchase of Vehicle that is also part of this packet, is useful to protects the seller and to avoid possible problems in the future, and permits payment in monthly installments.
This Automobile/Vehicle Bill of Sale and Promissory Note packet also include simple instructions that guide you through each provision making it simple to easily understand the terms of your legal document.
These Important provisions are included in this Arkansas Automobile / Vehicle Bill of Sale and Promissory Note:
- Consideration paid: This provision indicates the sum paid for the vehicle and also can be used by the buyer to prove that valuable consideration was paid for the vehicle;
- Name and Address of Seller and Buyer : Identifies and locates the parties to this sale in case of a dispute;
- Make/ Model/ Year/ Mileage/ Vehicle identification number:Identifies the vehicle being sold;
- Covenant of Ownership: Seller warrants that he/she is the true owner of vehicle and has the right to sell the vehicle;
- Encumbrance Covenant: Seller warrants that the vehicle is free from any lien, security interest or other encumbrance;
- Defend Covenant: Seller will defend vehicle against any claims or demands.;
- Optional AS-IS Clause: Seller is not making any implied or express warranties as to the condition of the vehicle;
- Promissory Note: Documents the terms and conditions for the Promissory Note, including amount, payments, interest rate and vehicle information;
- Odometer Disclosure Statement: Under Federal Law, the seller must disclose the mileage upon transfer of ownership;
Protect Yourself, Your Rights, and Your Property, with our up-to-date forms.
This packet prepared by lawyers contains:
- Step by Step Instructions, easy to use checklist, and important facts for the Arkansas Automobile / Vehicle Bill of Sale and Promissory Note;
- Automobile / Vehicle Bill of Sale;
- Promissory Note for Purchase of Vehicle;
- Odometer Disclosure Statement.
Arkansas Vehicle Bill of Sale and Promissory Note
Product Details
| Product | Arkansas Vehicle Bill of Sale and Promissory Note |
| Country | United States |
| Pages | 7 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Vehicle Bill of Sale and Promissory Note |
| Product number | #17117 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
The Arkansas Vehicle Bill of Sale includes essential details such as the buyer's and seller's names and addresses, vehicle make, model, year, mileage, VIN, and the terms of the sale, including whether the vehicle is sold as-is or with a warranty.
While notarization is not typically required for a bill of sale in Arkansas, having it notarized can provide an additional layer of protection and verification for both parties.
An odometer disclosure statement is a legal requirement that mandates the seller to disclose the mileage of the vehicle at the time of sale. This protects the buyer from potential fraud regarding the vehicle's mileage.
Yes, this form can be used for various types of vehicles, including cars, trucks, vans, motorcycles, and trailers, as long as the transaction complies with Arkansas state laws.
If the buyer fails to make payments as outlined in the promissory note, the seller may have legal grounds to reclaim the vehicle or pursue further action to recover the owed amount.
Yes, this legal form packet is designed to comply with the laws of Arkansas, ensuring that both parties are protected under state regulations.
The promissory note section includes specific terms such as the loan amount, payment schedule, interest rate, and vehicle details. Clear instructions are provided to guide you through the process.
If you wish to sell the vehicle with a warranty, you can specify the terms of the warranty in the bill of sale, ensuring that both parties understand the obligations involved.
Is This Form Right For You?
Use This Form If:
- Individuals who are selling their vehicle and wish to receive payment in installments can utilize this form to formalize the transaction. This ensures that both parties are clear on the payment terms and protects the seller's rights in case of disputes.
- Situations requiring proof of ownership transfer, such as when a buyer needs to register the vehicle with the Department of Motor Vehicles, can benefit from this form. The bill of sale serves as a legal document that verifies the sale and details the vehicle's specifics.
- For those purchasing a used vehicle, having a bill of sale that includes an odometer disclosure is crucial for compliance with federal law. This protects the buyer from potential fraud regarding the vehicle's mileage.
- When a seller opts to sell a vehicle 'as-is', this form allows them to clearly communicate that no warranties are provided. This protects the seller from future claims regarding the vehicle's condition after the sale.
- Buyers looking to finance their vehicle purchase through a promissory note will find this form essential. It outlines the terms of the loan, including payment amounts and interest rates, ensuring clarity and legal protection for both parties.
Do Not Use If:
- – This form is not appropriate for transactions involving vehicles that are not legally owned by the seller. If the seller does not have clear title or ownership, the sale cannot be legally executed.
- – In cases where the vehicle is being sold through a dealership or a third party, this form may not be suitable. Dealerships typically have their own sales agreements that comply with specific regulations.
- – If the buyer and seller are not in agreement on the terms of the sale, such as the price or payment method, this form should not be used until all terms are negotiated and agreed upon.
- – For vehicles that are being sold for parts or salvage, a different type of documentation may be required. This form is intended for complete vehicle sales rather than parts sales.
- – When the vehicle is under a lien or has outstanding loans, this form should not be used until the lien is resolved. Selling a vehicle with an existing lien can lead to legal complications.
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Save Money by getting our popular Vehicle Bills of Sale forms together in one convenient packet
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