I recently purchased a Mazda 3 for my wife. It was a good exercise in the process of buying a used car through a private sale. There a a number of issue to take care of and I developed my own little process. You can read about it in my article Negotiating a Private Sale on a Car.
This article provides an example of a Bill of Sale or what I call a Purchase Agreement. You should always, always, always have one of these. It defines the actual agreement that you have come to with the seller. You will need it to insure and register your vehicle.
Feel free to use this template. I am sick of not being able to find a decent one for free. I have underlined and italicized the sections you will want to fill in yourself. You can copy and paste it into a text editor or try downloading a template:
I would keep the overall sections there, but you can add criteria to each one as you see fit. There might be more or less conditions as well.
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT,
(hereinafter referred to as the "Agreement") is entered into by
and between PRINT SELLER NAME {hereinafter referred to as "Seller"} and PRINT BUYER NAME {hereinafter referred to as "Buyer"}.
RECITALS
WHEREAS, Seller is the
owner of a INPUT YEAR AND MODEL, Vehicle Identification Number: INPUT VIN NUMBER
and a set of winter tires on rims {hereinafter known as the
"Vehicle"}.
WHEREAS, Buyer desires
to buy the Vehicle from Seller and Seller desires to sell the Vehicle
to Buyer
AGREEMENT
NOW THEREFORE, in consideration
of the mutual obligations contained herein. Buyer and Seller do
hereby agree as follows:
SECTION 1:
PURCHASE AND SALE OF INTERESTS
Buyer agrees to buy from Seller
and Seller agrees to sell to Buyer, Seller's right and title to the
Vehicle.
SECTION 2:
PURCHASE PRICE
The total purchase price for
the Vehicle shall be INPUT PURCHASE PRICE HERE.
SECTION 3:
DEPOSIT
The Seller has received a ENTER DEPOSIT AMOUNT deposit towards the Purchase Price of the Vehicle.
SECTION 4:
PAYMENT AND DELIVERY
The Purchase Price shall be
paid by the Buyer to Seller at the Closing as defined in Section 5 of
this Agreement. The Purchase Price shall be paid in the form of
Certified Funds (Bank Draft or Money Order) or cash.
SECTION 5:
CLOSING
- Inspection.
The inspection will take place on INPUT INSPECTION DATE
and will be paid for by the Buyer. The estimated cost of necessary,
major repair work, as identified by the company inspecting the vehicle, needs to be less than $500.
- VIN Check.
A Vehicle History check based on the VIN will be completed by INPUT DATE and will be paid for by the Buyer. There should be no history of accidents, liens, or re-certifications, unless they were previously declared in this Bill of Sale.
- Cooperation.
Buyer and Seller agree that they will fully cooperate with each other
in connection with any steps required to be taken as part of any obligation
under this Agreement, and to effect the Closing, including the execution
and delivery of such documents and the taking of such actions at or
after Closing as shall reasonably be requested by one part or the other.
SECTION 6:
TITLE AND POSSESSION
- Title. The conveyance
of the title to the Vehicle to Buyer shall be by execution of the delivery
of the Vehicle title executed by Seller at Closing. This will
include a Bill of Sale.
Signed in LOCATION HERE on INPUT THE FULL DATE.
Seller:PRINT NAME SIGNATURE
Buyer:PRINT NAME SIGNATURE
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