Vehicle Bill of Sale and Promissory Note

for
Bahman Eslamboly

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A seller of an automobile or any other type of vehicle (van, motorcycle, truck or trailer) that is willing to receive payments for the sale, will require an Automobile/Vehicle Bill of Sale in conjunction with a Promissory Note.

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 [STATE] 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:
  1. Step by Step Instructions, easy to use checklist, and important facts for the [State] Automobile / Vehicle Bill of Sale and Promissory Note;
  2. Automobile / Vehicle Bill of Sale;
  3. Promissory Note for Purchase of Vehicle;
  4. Odometer Disclosure Statement.
State Law Compliant: This legal form packet complies with the laws of [STATE].

Vehicle Bill of Sale and Promissory Note

Product Details

Product 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 #17113
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 between a seller and a buyer. It includes important details such as the vehicle's make, model, year, and VIN, as well as the terms of the sale.

If you are financing the purchase of a vehicle through installment payments, a Promissory Note is essential. It outlines the payment terms and protects both parties by documenting the agreement.

Yes, the Vehicle Bill of Sale allows you to sell the vehicle as-is, meaning you are not providing any warranties regarding its condition. This is an important option for sellers who do not want to assume liability for potential issues.

Yes, federal law mandates that sellers disclose the vehicle's mileage at the time of sale. This is to prevent fraud and ensure transparency in the transaction.

The seller must warrant that the vehicle is free from any liens or encumbrances. If there are existing liens, they must be resolved before the sale can legally proceed.

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 that both parties understand the terms of the sale and protects their rights.
  • Situations requiring proof of ownership transfer, such as when a vehicle is sold to a family member or friend, can benefit from this document. It serves as a legal record that can help resolve any disputes regarding ownership in the future.
  • For those engaging in a private sale of a vehicle, this form provides a clear outline of the sale conditions, including whether the vehicle is sold as-is or with a warranty. This clarity can prevent misunderstandings between the seller and buyer.
  • Buyers looking to finance their vehicle purchase through installment payments will find the Promissory Note component essential. It details the payment schedule and terms, ensuring both parties are aware of their financial obligations.
  • In cases where the seller is required to disclose the vehicle's mileage, this form includes an Odometer Disclosure Statement to comply with federal law. This protects the buyer from potential fraud regarding the vehicle's condition.

Do Not Use If:

  • This form is not appropriate for vehicles that are being sold for parts or scrap. In such cases, a different type of documentation may be required to reflect the nature of the sale.
  • If the vehicle is being sold through a dealership, this form should not be used as dealerships typically have their own sales agreements and processes.
  • In situations where the seller does not have clear ownership of the vehicle, such as if it was inherited or is still under a loan, this form is not suitable until ownership is clarified.
  • Should the vehicle have significant mechanical issues or safety concerns, it is advisable to consult a legal professional to ensure proper disclosures are made, rather than using this standard form.
  • For transactions involving multiple parties or complex financing arrangements, a more detailed legal agreement may be necessary to cover all aspects of the sale.

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