When you want to buy or sell a motor vehicle in Colorado, it is vital to use a bill of sale form. A Colorado vehicle bill of sale is a binding document that proves the transfer of ownership from one party to another. It is a legit document that prevents fraudulent sellers from conducting illegal transactions since it has notary seals to bind the sale. The bill of sale template contains details such as the buyer’s and seller’s full names, sale date, signatures of parties involved, vehicle condition, etc. It is a mandatory document that you must provide during the vehicle registration.
Colorado bill of sale forms – take a look at several other bills of sale used in Colorado.
Read this article to get general information about bills of sale.
Whether you are a resident or a non-resident in Colorado, it is essential to register your newly acquired car. Both brand new and used vehicles must undergo the registration process. You might find that the used car is already under the registered list of vehicles. In such a case, you must renew the registration at the county office handling the vehicle title and registration. If you do not have time to go physically, you can renew online or via post office mail.
First-time registrations happen at the local Division of Motor Vehicle (DMV) office in your county. Ensure that you commence the registration process within 30 days after buying the car. It is advisable to visit the DMV office immediately after the purchase. Since there are several documents that you have to provide, it might give you enough grace period to gather all the relevant paperwork before the deadline.
Some of the critical documents that you must present include the vehicle’s current title and proof of identification, which can be your State ID or a valid Driver’s License. You will also be required to have a VIN verification form from the Colorado Department of Revenue. It is critical since it confirms if the car is valid through the registration details and title.
Depending on your county, it is essential to present an emissions inspection form. Get the form in a nearby Emissions Inspection Station. An auto bill of sale template is also mandatory since it will help in showing evidence of insurance and for paying the registration cost.
If you buy your car from an auto dealer, the company will prepare all of the registration paperwork. If it is a new car, the dealer will have to apply for the Application for Title and Registration and offer you a temporary code to enable you to drive lawfully until the process of registration is finalized.
After collecting all the above documents, present the paperwork at the DMV office for vehicle registration. After the process is successful, you will get the new title of ownership and license plates.
The completing advice was written for the bill of sale template created by us. Nevertheless, if there’s a document provided by your local authorities, it is always recommended to use it in the deal.
Step 1: Specify when the document is created and filled out.
Step 2: Enter the specifics of all parties (purchaser and seller):
Step 3: Fill out the information regarding the motor vehicle you’re selling:
Step 4: Pick the way in which the buyer will pay for the vehicle and for what amount of money.
This step also involves providing the exact date of the transaction and the complete sum approved by each party of the transfer. Once that is handled, you need to check the way of purchase:
Your next step is considering the type of payment:
The last thing to do within this section would be to determine if all applicable taxes are included in the price.
Step 5: Review the miscellaneous terms.
The “as-is” provision points out that the vehicle owner gives no warranty and is not accountable for maintenance after the transaction.
Step 6: Sign the bill of sale form.
The buyer’s signature is typically not needed. Yet, you’re more protected from legal complications if all sides sign the bill of sale form. You may additionally have one or a few witnesses confirm the transaction.
Step 7: Notarize the bill of sale
This way, you will get more legal protection. But, this step is generally entirely optional.
The original document copy must be presented to the purchaser as they will likely require it to get a title to their newly bought vehicle. As a seller, you could either make a copy and keep it or have two identical documents signed and completed by both parties.