Ever wonder what a dealership or used car lot uses for a car bill of sale? Printable and easy to use, this bill of sale from LovetoKnow Cars will help you understand all you need to know before you buy a new or used car, truck, minivan or SUV.
Example Car Bill of Sale: Printable and Easy
The printable bill of sale you'll find here is basically a generic vehicle bill of sale. States have varying car buying laws, but every state requires that you receive a buyer's order or bill of sale showing what you paid for the vehicle. Necessary information includes tax, title, licensing fees, and any add ons.
As in the example, the bill of sale should have a place for the car you are buying, as well as a place for a trade-in, if you have one. There should be spaces for information such as the vehicle identification number or VIN, year, make, and model, and odometer. The bill of sale should also clearly define whether the vehicle you are buying is a new, used, or demo vehicle.
Bill of Sale Pricing Fields
Every vehicle bill of sale should have a place for the following:
|Price||This is the price you agree to pay for the vehicle.|
|Trade-In Allowance||If you have a trade-in, this is the amount you will get for your trade.|
|Loan Payoff||This is the amount still owed on your trade-in.|
|Subtotal||This amount is vehicle price, minus trade in allowance, plus what you owe on trade-in.|
|State Tax||This is the amount of sales tax for your state. If you have a trade in, this is calculated from the subtotal line.|
|Title & Registration Fees||This amount is what the dealer or seller will pay to the Motor Vehicle Department to register your vehicle.|
|Dealer Transfer Fee||Also called a "Doc" fee, this varies by dealership.|
|Service Contract||This number is the price you pay for a service contract or extended warranty.|
|Credit Insurance||An optional field, this is the price you pay for any credit life insurance.|
|GAP Insurance||This refers to the price of GAP insurance. If you total your car, this pays the difference between your vehicle's value and what you owe.|
|Accessories||You should also include the price of any accessories you are adding to the vehicle.|
|Other||A general category, this covers any other dealer add ons you agree to purchase.|
|Total||This is the total from the Subtotal line to the Other line.|
|Less Cash Down||This is any money you put down including manufacturer rebates.|
|Balance Due||This is what you will either pay in cash or have financed to purchase the vehicle.|
Other Important Items
While every state does vary on laws regarding what should be in a vehicle bill of sale, keep these important items in mind:
- A bill of sale should clearly state if a vehicle is new or used and have a place for you to initial.
- If the vehicle is used, it should indicate if any warranty comes with the vehicle and a place for the buyer's initials.
- The bill of sale should contain a dealership or used car lot disclaimer stating that no alterations to the vehicle have been made. If there have been alterations, you should be informed in writing of those alterations.
- There should be a place for buyer(s) and the seller, whether individual, dealer, or used car lot, to sign.
- The back of the vehicle bill of sale includes items you should read through before you sign. Pay special attention to "spot delivery." A spot delivery is when a dealership or used car lot allows you to sign a bill of sale and lets you take the vehicle without approved financing. This is not legal in all states. To find out if spot deliveries are legal in your state, check with your state's Attorney General's office.
- There should be wording that identifies the city, town, county, and state where you are purchasing the vehicle.
Take the time to understand all the items that appear in it before you visit a dealership or used car lot. Finally, never sign any vehicle bill of sale unless you understand all the elements it contains.