The North Carolina vehicle bill of sale is a legal document compiled by the seller and buyer of a vehicle during a private transaction. The sale is considered private in case a person acquires a vehicle from another person not certified as a BMV dealer. The bill of sale form is signed by both parties of the deal and contains all of the relevant details about the transacted item including the make, model, model year, and VIN of the vehicle. The sale’s date, actual price, and the absence of any warranty from the previous owner are also documented in the bill of sale.
North Carolina bill of sale templates – discover more about bills of sale used for other things in North Carolina.
You might also want to read the guide to using a bill of sale for various types of transactions.
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This article will give you more insights into purchasing a motor vehicle properly.
Those who register a newly acquired pre-owned motor vehicle in the state of North Carolina have to file the following documents to the local NC Division of Motor Vehicles:
Residents of North Carolina acquiring vehicles should first complete the registration procedure to start operating those vehicles on the state’s roads.
If a vehicle is transferred between family members, the new owner should file the Highway Use Tax Exemption Certificate (MVR-613).
Fees applicable to vehicle registration in North Carolina include the Certificate of Title fee ($56), highway-use tax (equaling 3% od the vehicle’s value, but not exceeding $250 for new residents moving to North Carolina), instant title fee ($105.75), and late penalty fee ($20) applied to those who register their vehicles later than 28 days after the date of vehicle’s acquisition.
The registration fees depend on the vehicle’s category. Thus, you’ll need to pay $15 for a house trailer, $25.50 for a moped, and $6 for a permanent or state-owned vehicle. Private passenger vehicles are typically charged at $38.75. Besides, residents registering their vehicles in a specific county will also need to pay regional fees and taxes ranging from $1 in Randolph to $7 in Durham, Orange, and Wake. Electric vehicle registration is subject to an additional fee of $140.25 (added to the standard registration fee) while getting a personalized plate will cost $30.
The directions listed here are based on our custom-made bill of sale template. Nevertheless, if there’s a form offered by your local officials, it is recommended to use it for the deal.
Step 1: Specify the bill of sale creation date.
Step 2: Provide the details of all parties (buyer and seller):
Step 3: Fill in the detailed information concerning the motor vehicle that you are trying to sell:
Step 4: At this point, you should specify the way in which you will get money for the vehicle.
This stage also requires indicating the exact date of the transaction and the full sum decided upon by both sides of the deal. After that is done, you will need to specify the method of purchase:
Then, specify the way the purchaser is going to pay:
The last thing to do in this section would be to choose whether or not all applicable taxes are included in the price.
Step 5: Go over standard provisions and confirm that both parties are familiar with them.
This section generally has the “as-is” paragraph that indicates the object is offered without a warranties.
Step 6: Now, the document must be signed.
The purchaser is generally not required to sign the form. Nonetheless, it’s recommended to get the bill of sale signed by each party. As an additional safety measure, you can have one or two individuals attest the process and sign the bill of sale.
Step 7: Notarize the document
By doing this, you will get even more legal protection. Nonetheless, this step is typically entirely elective.
In the majority of states, a bill of sale document might be necessary during title change, so the purchaser should have the original. As a seller, you could either get a copy and keep it or have a pair of identical documents signed and completed by both sides.