Does a Trailer Need a Bill of Sale?
Taking the necessary steps to secure a Bill of Sale when transferring to a new owner is a sound business decision even if it may not be required in your state of residence. However, many U.S. States do in fact require a Bill of Sale to legally illustrate the vehicle changing hands and the corresponding details involved. Some states may mandate it to be signified on the Bill of Sale for another vehicle that includes a trailer. For example, if the purchase of a watercraft included a boat trailer, the trailer information must be listed as well in order to title and register appropriately. At the end of the day, it is simply a smart way to ensure transparency within the sale, record the accompanying specifics and present evidence of a legitimate exchange, should it ever come into question.
How to Sell a Trailer
Fix any Significant Issues
When selling any type of item, the better condition it appears to be in, the higher the yield will be. Wash your trailer and pay attention to problem areas that may accrue dirt, mud or dust easily. Check your trailer for any damages that may need repair, as visible issues can signal to a buyer that they can find a better product elsewhere or fuel negotiations for a reduction in price. Check for any areas where rust presents itself, check tire air pressure, coupling brakes and lights to confirm it is in safe running condition and make any adjustments as needed.
Set an Appropriate Sales Price
When it comes time to establish a price to sell for, you want to do your research. You can inquire about the used book value on NadaGuides.com for a general idea of its worth. Couple that with an investigation into what similar year, make and models are selling for within your region and online. Obtaining prices for at least three comparable trailers for sale can also give you an edge when a potential buyer wishes to question your evaluation in pricing.
Publicize the Trailer
When advertising the trailer make sure you include all the essential information in your ad description, such trailer type, year, make, model, size, load capacity, and style. Photos are a key element to marketing your trailer, make sure to focus on many different angles and include close-ups of any moving parts or areas exhibiting rust or damage. If there are areas that are damaged, you will want to point it out in your ad or decide if you wish to list as an ‘as is’ sale. Provide any contact information you would like to make disclose to those with a potential interest in buying such as a phone number and email. To attain as many potential buyers as possible, you can explore various avenues to promote the sale. Park the trailer in front of your residence with a ‘for sale’ to entice a sale from passersby. List an ad in your local newspaper, community flyer, or to reach a broader audience online, market it on craigslist or eBay. For websites geared specifically for selling trailers, you can also look to TrailerTraders or Trailer Shopper to list an online classified or Trailers for Less if you are looking for an option to have someone else conduct the sale for you.
Manage the Sale of the Trailer
When you have found a possible buyer for the trailer, you will want to meet in a public place to have them inspect the vehicle and negotiate the details for purchase. Once both the buyer and seller have agreed upon a reasonable purchase price you will want to meet again to sign the Bill of Sale and exchange the cash for the vehicle. An ideal setting to carry out the transaction would be at a local bank to verify that the cash is authentic tender before handing over the trailer. Complete the sale and provide the buyer with the title, registration, any materials associated with the vehicle and/or keys.
Registering Your Trailer
To utilize your trailer on public roads it must be registered by your state of residence. The particular process for doing so will depend on your state’s policy but many states require that you complete the procedure within the first 30 days of the purchase. To do so you will need to produce the Bill of Sale, a signed-over title, a completed and signed trailer registration application, valid identification, and proper payment for fees and taxes. You may also be required to provide active trailer liability insurance as well as previous registration. Contact your local DMV or state transportation agency to confirm exact details.
Complete the Trailer Bill of Sale Form
Step 1 – Download the file in Adobe PDF.
Step 2 – Seller Information – Fill out all required seller information prompted on the form:
- Seller’s Name
- Seller’s License Number
- Seller’s Address (street address, city, state, zip code)
- Seller’s Email Address
- Seller’s Phone Number
Step 3 – Buyer Information – Complete the same information for the seller in the next segment of the form:
- Buyer’s Name
- Buyer’s License Number
- Buyer’s Address (street address, city, state, zip code)
- Buyer’s Email Address
- Buyer’s Phone Number
Step 4 – Vehicle Information – Input the requested information on the trailer involved in the sale as follows:
- Vehicle Identification Number
Step 5 – Indicate by selecting the proper box, which type of trailer the sale is concerned with.
Step 6 – Submit the full purchase price the aforementioned trailer will be sold for, along with the date of the sale.
Step 7 – Have the buyer and seller each endorse the document, print their full name and date according to the specific day the signatures were recorded.