What is a Vehicle Bill of Sale?
A vehicle bill of sale is a legal document that shows the private trade relationship between a vehicle seller and a buyer. A valid bill of sale must convey the date of purchase, buyer and seller’s contact information, purchase price, and the description of the vehicle.
Other important details to capture include information about any liens or claims, information about any warranties, signatures of buyer and seller, signature of a notary public or witness Important Terms for a Vehicle Bill of Sale
The following are important terms that must be captured in a vehicle bill of sale in Oklahoma:
- Seller:
- Buyer:
- Vehicle Location:
- Price:
- Witness Information:
- Payment form:
The seller is the person selling the vehicle in question.
This is the person buying the vehicle in exchange for money.
This term clearly specifies the location where the vehicle is situated.
This is the agreed amount that both the buyer and seller have settled with.
This conveys your witness information like their full names and addresses.
This can be anything from a bank transfer, personal check, cash, money order, or certified check.
Why Do You Need a Vehicle Bill of Sale in Oklahoma?
The most important reason why you need a vehicle bill of sale is for protection. For instance, if the deal didn't go down well or or the vehicle developed a fault that wasn't captured on the bill of sale, any of the party may choose to approach a court of competent jurisdiction. The judge will use the bill of sale to settle the case in favor of the buyer or seller.
How to Write a Vehicle Bill of Sale in Oklahoma?
Writing a bill of sale in Oklahoma doesn't have to be stressful. At CocoDoc, we have put measures in place to help you write the bill of sale form in seconds. However, when writing the letter, ensure you capture the date of purchase, buyer and seller’s contact information, purchase price, description of the vehicle, and information about any liens or claims.
Other details you need to capture include information about any warranties, signatures of buyer and seller, signature of a notary public or witness
Tips for Buying a Vehicle in Oklahoma
Buying a used or second-hand vehicle in Oklahoma is simple and straightforward. Here is how to go about it:
Be Informed & Ask Questions
Before you part with your money, it is important to ask questions regarding the vehicle you want to buy. Some useful questions to ask include are you the owner of the vehicle? How long have you owned it? What is the vehicle’s mileage? How has the vehicle been driven? (Around town vs. long trips) What major work have you done on the vehicle? Do you have receipts? Did you buy the vehicle new? Has the vehicle ever had rust problems? Has it ever been wrecked, had body repairs, or been repainted? Do you have the title? Are you a licensed vehicle dealer? Answers to the above questions will give you a clear direction whether to buy the vehicle or not.
Buy From a Trustworthy Seller
The next step is to buy from someone you trust. Remember, you are not buying from a dealer, so the seller should be trusted. Otherwise, you may run into troubles with security agencies.
Test Drives & Mechanics
Before you pay for a vehicle, test drive the vehicle to ascertain the engine condition. If you are not an auto expert, get a motor mechanic to inspect the vehicle on your behalf.
Check the Vehicle’s History
Ask the seller the history of the vehicle. If the seller doesn't give you a clear history of the vehicle, that's a pointer to avoid the deal.
Beware of Odometer & VIN Fraud
Some sellers go the extra mile of perpetuating VIN or odometer fraud. You need to be aware of these frauds so that you don't buy a stolen or damaged vehicle.
Tips for Selling a Vehicle in Oklahoma
If you live and do business in Oklahoma, there are tips you should follow through if you must sell your used cars without having issues with buyers. If you can follow through with these tips, you would be well on your way to experience a hitch-free transaction. Here are the tips:
Legally Selling the Vehicle
Look up laws regarding private selling vehicles in Oklahoma. You don't want to run afoul of the laws and have problems with law enforcement agencies. Therefore, the first step is to understand what the laws in Oklahoma are saying before you attempt to sell your vehicle.
Resolve Any Liens on the Vehicle
Did you buy the car on loan? If yes, have you finished paying the loan? If you are yet to completely settle the loan, a lien may occur. Before you sell a car that you purchased on loan, ensure you resolve any lien on the vehicle before selling; otherwise, you will run into troubles with security agencies.
Test Drives & Mechanics
Allow the buyer to test drive the car in question. The buyer may come with a motor mechanic, allow the mechanic to inspect the vehicle on behalf of the buyer.
Take your license plates off the vehicle before giving it to the buyer.
Once you have agreed on the amount and terms of the transaction, the next step is to remove your license plates off the vehicle before transferring ownership to the buyer.
Keep a Written Record of the Sale
This is where the vehicle bill of sale comes in. If you can't write a clean bill of sale for the transaction, feel free to help you out. Once you have the bill of sale handy, you can then exchange the vehicle for money.
Conclusion
Buying or selling a used car in Oklahoma is a simple process if you can follow the tips we have highlighted in this article. You need a vehicle bill of sale to protect you against fraud and misunderstanding.
When crafting the bill of sale, ensure you capture the date of purchase, buyer and seller’s contact information, purchase price, description of the vehicle, information about any liens or claims, information about any warranties, signatures of buyer and seller, and the signature of a notary public or witness.
If the process of writing the bill of sale is tedious, we can help you get the bill of sale within seconds.
