What is a Bill of Sale Auto Template?
Bill of sale is quite unfamiliar to our ears; therefore, that is reasonable enough you don’t have any idea of what it is. This article below will show you what bill of sale is and the use of bill of sale auto template. Who knows this will come in handy someday?
What is a Bill of Sale?
A bill of sale is a kind of receipt someone will typically get when that person is buying something high in value, such as auto products, aircraft, boat, or any personal property, tools, and even animals. The bottom line is, a bill of sale is not used in trading low-cost items, because more often than not, it does not require much protection.
Why a Bill of Sale is Needed?
A bill of sale is needed in order to protect both buyers and sellers.
- When it comes to terms ‘protecting the buyers’, it’s simply because with this paper buyer will have a proof of ownership of the things in question. In addition, bill of sale becomes a purchase and payment proof too.
- Bill of sale is also protecting the seller. With a bill of sale, sellers can document that the sale has been done with the condition per se. Hence, buyers cannot complain for the bad condition of the thing as the condition has already stated as-is in the bill.
What to Include in a Bill of Sale?
Since a bill of sale is basically a sale receipt, then having some basic information about the transaction is needed; such as the time, the name and price of the sold item, and some details about the transaction. Aside from that, there are some other aspects needed to be written in the document:
- As-is or warranty
‘As-is’ means the buyer has already known the condition of the item beforehand and will not be asking for replacement. This will help the seller not to refund the buyer; although the details of this rule must be clear and agreed upon two parties. ‘Warranty’ means the contrary – it states that the seller will provide incentive if the buyer finds out that the item condition is not as offered.
It is only applicable for some states. If the auto sellers in your area require a witness, then it is a procedure you need to complete. The witness presence is to observe the process of signing – the witness is also required to sign his/her part either.
What a Bill of Sale Should Look Like?
A bill of sale usually looks simple like a form, but it is usually blank in some place and also computer-typed. Some bill of sales may also involve colors to decorate the document.
How Do You Write a Bill of Sale for Car Purchase?
In order to write a bill of sale for car purchase, it will be quicker if you get a bill of sale auto template beforehand. There are loads of templates out there with different looks and contents. Instead of making it yourself, it is better to get a pre-made one and adding some adjustment.
To customize the bill of sale auto template, then you should use a relevant application. In general, it can be a word processor app or a spreadsheet app. Then, once you’ve done the customization and inserting the contents, the next thing to do is saving the file. Printing the document comes next if a physical bill of sale is needed.
Printable Bill of Sale Auto Template Sample