You can easily find a free template bill of sale for car online, with some of the websites offering these for free. These are template of vehicle bill of sale documents – which can be customized and used for specific vehicle ownership transfer purposes. This is often regarded as a very important piece of document that can be useful for ensuring the sale of a vehicle, and it is said to be assistive for the prior as well as the existing owner of a car. Read and find out what exactly makes such kind of a document so important today.
Serves as proof of purchase
A bill of sale for car can be used as a proof of purchase. This can be a valuable document for sellers as well as buyers, and can show that a transaction occurred – with the aim of change of ownership of the vehicle from the seller to the buyer. This can help avoid any argument in future, when it comes to the ownership of the vehicle.
Settles the sale amount
This kind of a document also settles that amount for which the car is to be sold, and makes a mention of whether the amount has been paid in full. Thus, if the amount is duly paid and settled, the seller cannot claim later that the sum has been left unpaid. The buyer also has a document that shows he had paid for the car in full, and now enjoys complete ownership of the vehicle.
Helps avoid legal hassles
In some cases, a car is found to be involved in some crime – such as terrorist attacks, robberies, murder etc. It could also be a stolen car. In all such cases, the current owner of the vehicle is the one who has to bear all the legal brunt. With a car bill of sale in Alabama in his possession, if he is innocent, he can reveal the name and contact details of the previous owner of the car to the police and help settle the case more easily. Even if the previous owner was not party to the crime, his vehicle bill of sale can prove to be very handy in giving something valuable to the cops to use for tracking down the culprit. Thus, this is a very important piece of document.
For a seller, such a Bill of Sale mentions that the car is not in his possession any more. This is important in case the buyer – the new owner, is embroiled in some legal hassle that involves the vehicle – such as accidents or traffic tickets. The seller has then primary responsibility for drafting a car bill of sale before carrying out the transaction.
Useful for Title transfer
As aforementioned, this is a valuable document for sellers as well as buyers. Buyers can use a copy of this document when they go to the DMV or Department of Motor Vehicle during the submission of Title to transfer ownership. This is because a Bill of Sale is needed in many states during a Title transfer submission. You may download Alabama car bill of sale here.
When tailored and used in a proper manner, such kind of a Bill of Sale document can serve many purposes at once. Keep in mind that you need to know about the laws of your state, before drafting and preparing a complete vehicle bill of sale.