Minnesota 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 Minnesota 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 Minnesota Automobile / Vehicle Bill of Sale and Promissory Note;
- Automobile / Vehicle Bill of Sale;
- Promissory Note for Purchase of Vehicle;
- Odometer Disclosure Statement.
Minnesota Vehicle Bill of Sale and Promissory Note
Product Details
| Product | Minnesota 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 | #17138 |
| 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
A Vehicle Bill of Sale is a legal document that outlines the details of a vehicle sale, including the buyer and seller's information, vehicle specifications, and the terms of the sale.
A Promissory Note is essential when the buyer is making installment payments, as it legally documents the payment terms, including the amount, interest rate, and due dates.
Yes, the form allows for an 'as is' sale, meaning the seller is not providing any warranties regarding the vehicle's condition, which must be clearly stated in the agreement.
The Odometer Disclosure Statement must include the vehicle's current mileage at the time of sale, as federal law mandates this disclosure to prevent odometer fraud.
Yes, this Vehicle Bill of Sale and Promissory Note is specifically designed to comply with the legal requirements of Minnesota, ensuring that both parties are protected.
Is This Form Right For You?
Use This Form If:
- Individuals who are selling their vehicle and wish to receive payments over time can utilize this form to formalize the transaction. This ensures both parties are protected legally and have a clear understanding of the payment terms.
- Situations requiring the transfer of vehicle ownership while maintaining a record of the sale can benefit from this document. It provides necessary details such as the vehicle's make, model, and VIN, which are crucial for registration and ownership verification.
- For those purchasing a vehicle from a private seller, this form serves as proof of ownership and payment. It can be particularly important for tax purposes and to establish a clear chain of ownership in case of future disputes.
- When a seller wants 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.
- In cases where the buyer needs to finance their vehicle purchase through installment payments, the included promissory note outlines the payment schedule and terms. This helps prevent misunderstandings and provides a legal framework for the transaction.
Do Not Use If:
- – This form is not appropriate for transactions involving vehicles that are not roadworthy or have significant mechanical issues. In such cases, a more detailed inspection and disclosure may be necessary.
- – If the vehicle is being sold through a dealership, this form should not be used as dealerships typically have their own sales agreements and financing options.
- – In situations where the seller is not the legal owner of the vehicle, such as when the vehicle is financed or leased, this form cannot be utilized without proper authorization from the lienholder.
- – For transactions involving vehicles that require extensive legal documentation, such as those involved in estate sales or divorce settlements, a more comprehensive legal approach should be taken.
- – If the buyer is not able to fulfill the payment terms outlined in the Promissory Note, it is advisable to seek alternative arrangements or financing options before proceeding with this form.
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Save Money by getting our popular Vehicle Bills of Sale forms together in one convenient packet
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