Use This Form If:

• Individuals who are selling their vehicle and wish to accept installment payments can utilize this form to ensure that the terms of the sale are clearly documented. This protects both the seller's and buyer's interests and provides a legal framework for the transaction.
• Situations requiring the sale of a vehicle 'as is' can benefit from this form, as it allows sellers to limit their liability regarding the vehicle's condition. This is particularly useful for older vehicles or those with known issues.
• For those purchasing a vehicle from a private seller, this form serves as proof of ownership and can be crucial for registration and insurance purposes. It helps establish a clear record of the transaction, which can prevent future disputes.
• Buyers who are financing their vehicle purchase through a promissory note will find this form essential. It outlines the payment terms, including interest rates and payment schedules, ensuring that both parties are aware of their obligations.
• In cases where a seller needs to disclose the vehicle's mileage, this form includes an odometer disclosure statement, which is a federal requirement. This ensures compliance with the law and protects the buyer from potential fraud.