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Why Do I Need a Bill of Sale?
Retaining this form of documentation can be useful to prove ownership in any legal matter stemming from the sale. It also may be required to register the vehicle within your state of residence. Additionally, retaining the form in your possession can be a sensible precaution to safeguard your interest against liability should there be an injury in conjunction with using the vehicle.
What Information Is Included in the Bill of Sale Form?
This form contains applicable information to the vehicle, seller, and buyer. It also includes standard information constituting a valid contract, such as the warranty, which signifies the property is clear of any other claims. To be fully executed, the two parties must agree to the terms and sign and date the form to make it binding. Keep in mind that some states may require the presence of a notary when signing the bill of sale for use as documentation for registration and titling.
Guide to Selling an All-Terrain Vehicle (ATV)
Step 1 – Clean and Repair the ATV
Pay attention to the details and replace any burned-out bulbs, worn hand grips, or dull plastics. Clean every crevice under radiators and tires and fill all necessary fluids for the vehicle. You may need to invest some time and money initially, but this can pay off big when it comes time to negotiate with a buyer.
Step 2 – Market the Sale of Your ATV
To earn the most from the sale of your ATV, you will want to reach as many potential buyers as possible. You can list your vehicle on Craigslist, Facebook, and popular online classifieds websites like ATVTrader.com. Additionally, you can print out flyers to post in areas where individuals looking to buy may frequent, such as bulletins at ATV and motorcycle parts or repair shops. Whether advertising online, via a physical flyer, or both, include adequate images to entice a possible buyer and indicate information such as year, make, model, and mileage. Do your research to determine a price at which to list your vehicle. Check the value for your ATV on Kelley Blue Book. It will give you an idea of its worth when estimating a figure. When including an asking price, remember that most interested in purchasing a used four-wheeler will seek a deal, so price accordingly in anticipation of negotiation.
Step 3 – Ensure That the Title is Clear
If your ATV is paid in full, you should have the title to sign over to the buyer. If you have lost the title, you can obtain a duplicate from the corresponding agency in the state in which you reside. If you financed your vehicle and it is not entirely paid off, you must pay it off to furnish a title. The safest way to arrange the exchange is to meet the buyer at the bank where the loan was given. Meeting at this location will reassure the buyer that their payment to the seller will secure the proper title and transfer. If possible, verify that the cleared title will be mailed to the buyer as the recipient.
Step 4 – Allow the Buyer to Inspect the ATV
The purchaser may wish to have the vehicle inspected by an accredited specialist before completing the transaction. The provided bill of sale includes a portion dedicated to establishing an established date for the inspection. Once the examination has been performed, the buyer has the right to determine if the vehicle satisfies their needs and give the proper acceptance to complete the exchange.
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