Tennessee 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 Tennessee 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 Tennessee Automobile / Vehicle Bill of Sale and Promissory Note;
- Automobile / Vehicle Bill of Sale;
- Promissory Note for Purchase of Vehicle;
- Odometer Disclosure Statement.
Tennessee Vehicle Bill of Sale and Promissory Note
Product Details
| Product | Tennessee 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 | #17156 |
| 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 sale of a vehicle, detailing the terms of the transaction, including the sale price, vehicle information, and the identities of the buyer and seller.
A Promissory Note outlines the terms of payment for the vehicle, including the amount financed, payment schedule, and interest rate. It protects both the seller and buyer by clearly defining the repayment expectations.
Yes, the form allows for an 'as is' sale, meaning the seller does not provide any warranties regarding the vehicle's condition. This clause must be clearly stated to protect the seller from future claims.
The Odometer Disclosure Statement requires the seller to disclose the vehicle's mileage at the time of sale. This is a federal requirement to prevent odometer fraud.
Yes, this packet is specifically designed to comply with Tennessee laws regarding vehicle sales and includes all necessary provisions to protect both parties involved in the transaction.
Is This Form Right For You?
Use This Form If:
- Individuals who are selling their vehicle and wish to receive payments in installments can utilize this form to ensure that both parties are protected legally. The Bill of Sale and Promissory Note outline the terms of the sale, including payment schedules and vehicle condition, which can prevent future disputes.
- Situations requiring the transfer of vehicle ownership while ensuring compliance with state laws can benefit from this document. The Odometer Disclosure Statement included in the packet is essential for meeting federal requirements regarding mileage disclosure during the sale.
- For those purchasing a used vehicle, this form serves as proof of ownership and details the condition of the vehicle at the time of sale. Buyers can reference the Bill of Sale to establish their rights and responsibilities concerning the vehicle.
- In cases where a seller wants to sell a vehicle 'as is', this form provides the necessary legal language to clarify that no warranties are implied. This protects the seller from future claims regarding the vehicle's condition after the sale.
- Buyers and sellers looking to formalize their transaction can use this packet to document the sale comprehensively. The inclusion of the Promissory Note allows for clear terms regarding payment, which is crucial for both parties in an installment sale.
Do Not Use If:
- – This form is not appropriate for transactions involving vehicles that are not roadworthy or are being sold for parts only. In such cases, different legal documentation may be required to reflect the nature of the sale.
- – If the vehicle has a lien or is financed, this form should not be used until the lien is released. Selling a vehicle with an outstanding lien can lead to legal complications for both the seller and buyer.
- – In situations where the seller is not the legal owner of the vehicle, this form cannot be used. The seller must have clear ownership and the right to sell the vehicle to complete a valid transaction.
- – For transactions involving commercial vehicles or businesses, specialized forms may be necessary to address specific legal and tax implications. This form is tailored for private sales between individuals.
- – If the buyer and seller are not in agreement on the terms of the sale, this form should not be used until both parties have reached a mutual understanding. Clear communication is essential to avoid disputes.
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Save Money by getting our popular Vehicle Bills of Sale forms together in one convenient packet
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