North Carolina 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 North Carolina 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 North Carolina Automobile / Vehicle Bill of Sale and Promissory Note;
- Automobile / Vehicle Bill of Sale;
- Promissory Note for Purchase of Vehicle;
- Odometer Disclosure Statement.
North Carolina Vehicle Bill of Sale and Promissory Note
Product Details
| Product | North Carolina 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 | #17147 |
| 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 records the transfer of ownership of a vehicle from the seller to the buyer. It includes important details such as the vehicle's make, model, year, and VIN, as well as the terms of the sale.
Yes, if you are selling a vehicle and allowing the buyer to make installment payments, a Promissory Note is essential. It outlines the payment terms, including the amount, interest rate, and payment schedule, protecting both parties.
'As is' indicates that the seller is not providing any warranties or guarantees regarding the condition of the vehicle. The buyer accepts the vehicle in its current state, which can limit the seller's liability for future issues.
Yes, federal law mandates that sellers disclose the vehicle's mileage at the time of sale. This statement helps prevent odometer fraud and is a crucial part of the transaction.
This form is designed for various types of vehicles, including cars, trucks, vans, motorcycles, and trailers. However, it must comply with North Carolina laws to be valid.
If the buyer defaults on payments outlined in the Promissory Note, the seller has legal recourse to reclaim the vehicle or seek damages. The terms of the Promissory Note will guide the seller's actions.
The Vehicle Bill of Sale should be filled out with accurate information about the vehicle, the seller, and the buyer. It is important to follow the included instructions to ensure all necessary details are captured.
Yes, once both parties sign the Vehicle Bill of Sale and Promissory Note, it becomes a legally binding contract. This means both parties are obligated to adhere to the terms outlined in the documents.
Is This Form Right For You?
Use This Form If:
- Individuals who are selling their vehicle and wish to receive payments over time will find this form essential. It allows sellers to formalize the transaction while ensuring they have legal recourse should the buyer default on payments.
- Situations requiring a clear record of vehicle ownership transfer are common when buying or selling a used vehicle. This form provides the necessary documentation to establish ownership and protect both parties in the event of a dispute.
- For those who want to sell their vehicle without any warranties or guarantees, this form offers an 'as is' option. This can be particularly useful for sellers looking to offload a vehicle quickly without the burden of potential future claims.
- Buyers who are financing their vehicle purchase through installment payments will need a promissory note to outline the payment terms. This document ensures that both the buyer and seller understand their obligations and protects the seller's interests.
- In cases where the seller needs to disclose the vehicle's mileage, the included Odometer Disclosure Statement is vital. This legal requirement helps prevent fraud and ensures compliance with federal law.
Do Not Use If:
- – This form is not appropriate for vehicles that are being sold without the owner's consent, such as stolen vehicles. Selling a stolen vehicle is illegal and can result in severe legal consequences.
- – If the vehicle is being sold through a dealership, this form may not be suitable as dealerships typically have their own sales contracts and processes. It's best to use the documentation provided by the dealership in such cases.
- – In situations where the vehicle is being sold as part of a divorce settlement or estate distribution, specialized legal documents may be required to address the unique circumstances involved.
- – If the buyer is not legally able to enter into a contract, such as a minor or someone declared mentally incompetent, this form should not be used. Legal guardianship or parental consent may be necessary.
- – For vehicles that are being sold with significant mechanical issues or safety concerns, it may be better to disclose these issues separately rather than using an 'as is' clause. Transparency is crucial to avoid future disputes.
Save with a Combo Package
You've found your form, but will you need others? If there are other related forms you may need in the future, it may be beneficial to look at our combo packages. On average, customers who purchase a combo package save 40% on the related forms they need.
Save Money by getting our popular Bills of Sale forms together in one convenient packet
Save Money by getting our popular Vehicle Bills of Sale forms together in one convenient packet
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