Sample Bill of Sale Template Checklist
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The purchase or sale of a private vehicle is something that many people will do at least once in their lives. Most people understand the need to complete a bill of sale of cars in the purchase of a vehicle, it is also necessary to protect yourself when you’re selling your private car.
The term odometer fraud refers to the practice of rolling back the odometer of the vehicle so that it appears to have covered less miles than what it really is. This is done to obtain a higher price for the vehicle resale. It is estimated that more than half a million cars are sold each year in the U.S. with odometer readings that are false.
A very common scenario is as follows. A vehicle purchase is a private car and bill of sale is not used. The new owner back the odometer and then re-sells the car for a higher price than you bought for. Later he discovered the fraud and all previous owners of the vehicle are challenged to discover at what time the crime occurred.
The easiest way to record the odometer reading at the time of sale is the use of a car sale. Otherwise, the original owner, even if you know what the odometer reading at the time of sale, will have a difficult time proving that was the case.
It is highly recommended that any person who offers his car for sale private car must use a form of bill of sale with the following details. You must have both names of the buyer and seller. You must have all year, make and model vehicle for sale. Must include the price at which the vehicle was sold. You must enter the odometer reading and VIN. Finally must be dated and signed by both parties.
To avoid any problems and to protect themselves from participating in the odometer fraud, always a complete bill of sale form when you plan to sell your private vehicle.