Why Do I Need a Bill of Sale?
Retaining this form of documentation can be useful in order to prove ownership in any legal matter stemming from the sale. It also may be required in order to register the vehicle within your state of residence. Additionally, retaining the form in your possession can be a practical precaution to safeguard your own interest against liability should there be an injury in conjunction with the use of the vehicle.
What Information Is Included in the Bill of Sale Form?
This particular 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 alternate claims. To be fully executed, the two parties must agree to the terms, 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)
Clean and Repair the ATV
Pay attention to the details, 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.
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 and/or repair shops. Whether you are advertising online, via physical flyer or both, make sure to include adequate images to entice a possible buyer as well as indicating information such as year, make, model, 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 to estimate a figure. When including an asking price, keep in mind that the majority of those interested in purchasing a used four wheeler will be seeking a deal, so price accordingly in anticipation of negotiation.
Ensure That the Title is Clear
If your ATV is paid in full you should have the title in your possession in order to sign over to the buyer. In the case you have lost the title, you can obtain a duplicate from the corresponding agency in the state of which reside. If, however, you financed your vehicle and it is not completely paid off, you will need to pay it off to furnish a title. The safest way to arrange the exchange is to meet the buyer at the bank at which the loan was given. This will reassure the buyer that their payment to the seller will secure proper title and transfer. If possible, you can also verify that the cleared title will be mailed to the buyer as the recipient.
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 allowing an established date for which the inspection must be carried out by. Once the inspection has been performed, the buyer has the right to determine if the vehicle is satisfactory to their needs and give the proper acceptance to complete the exchange.
Complete the ATV Bill of Sale Form
Step 1 – You will then want to download in Adobe PDF and fill out the form with accurate information related to the sale of the vehicle as follows:
Step 2 – Purchase Price – Input the purchase price for the ATV.
Step 3 – Buyer/Seller Information – Enter the applicable information on both the seller and buyer as follows:
- Seller’s Name(s)
- Seller’s Address
- Buyer’s Name(s)
- Buyer’s Address
Step 4 – Vehicle Information – Complete the next portion of the form according to the info associated with the vehicle:
- Number of Cylinders
- Title Number
- Odometer/Hours Reading
- Vehicle Identification Number (VIN)
Step 5 – Include in detail any conditions to the sale should there be any.
Step 6 – In the next segment, enter any conditional information to the sale such as:
- Down Payment Amount
- Transfer Date
- Inspection Allowance Date
- Stipulated Down Payment to Be Retained (should seller decide not to buy after down payment is made)
Step 7 – Finalize the form with the form with the following:
- Printed Seller Name(s)
- Printed Buyer Name(s)
- Date of Sale