An Oklahoma vehicle bill of sale is a document required for the parties of a private vehicle transaction to validate the deal. The document should be signed by both parties and attached to the registration package to calculate sales tax and the provision of additional legal guarantees.
The bill of sale form usually includes personal data of the buyer and seller, the vehicle’s specifications (e.g., make, model, VIN, and year of manufacture), as well as the date of the deal and the price at which the transaction took place.
Oklahoma bill of sale templates – see other bills of sale used in the State of Oklahoma.
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|Document Name||Oklahoma Vehicle Bill of Sale Form|
|Other Names||Oklahoma Car Bill of Sale, Oklahoma Automobile Bill of Sale|
|DMV||Oklahoma Department of Public Safety|
|Vehicle Registration Fee||$26-96|
|Bill of Sale Required?||Yes|
|Avg. Time to Fill Out||7 minutes|
|# of Fillable Fields||59|
The following recommendations are written around the bill of sale form created by our team. However, you can opt for the official form if the local authorities provide it.
Step 1: Indicate the document’s creation date:
Step 2: Type in the purchaser’s and seller’s particulars:
Step 3: Fill in the descriptive particulars of the vehicle:
Step 4: Indicate the purchase price and payment method
Type in the transaction date and state the entire price that has to be paid for the motor vehicle. You also need to indicate the sale method the buyer will use:
The next step is considering the type of payment:
Finally, check whether the purchase amount includes all applicable taxes.
Step 5: Read the miscellaneous terms
The miscellaneous terms generally say that the purchaser obtains the property in “as-is” condition and is liable for it after the transaction is completed.
Step 6: Place your signature(s) in the appropriate areas
The buyer’s signature is generally not mandatory. Nonetheless, you’re more protected against legal problems if both sides sign the document. You may have one or two individuals attest to the process and sign the form as an additional precaution.
Step 7: Use the help of a notary public
Notarization is generally not required, but it’s an effective way to create another level of protection for your deal.
The buyer needs to get the original bill of sale because it’s commonly required during the title change. You could either get a copy and keep it or have two identical forms signed and filled out by both sides as a seller.
Application for Oklahoma Certificate of Title for a Vehicle (Form 701-6) is designed to apply for a vehicle title.
Form 729 is an odometer disclosure statement that should be attached to a bill of sale to show the vehicle’s mileage.
The law of Oklahoma requires that all vehicles with a capacity exceeding ten horsepower are registered annually and titled (except for those officially in salvage or junked status). The rule applies to all motor vehicles, including those not in use. The vehicle’s registration should be completed in a local Oklahoma Motor License Agency of the Oklahoma Tax Commission.
The list of documents required for the registration of your vehicle includes:
A vehicle can’t be registered without an Oklahoma title or any evidence of that title’s existence. If you register a leased vehicle, a copy of the lease statement should also be attached.
If the buyer is not an individual but an organization, then submitting the Federal Employer Identification Number is mandatory.
The new owner should also pay all taxes and fees before the registration. A standard title fee equals $11 in Oklahoma, while a junk title is calculated at $4 and a certificate of ownership – at $4 as well. Registration of a vehicle for the 1st-4th years of operation costs $96, for the 5th-8th years – $86, for the 9th-12th – $66, and the 13th-16th – $46. Those who have owned a vehicle for more than 17 years pay $26 per year. The sales tax for acquiring a used vehicle is calculated at 1.25% of the purchase price after July 2017. The sales tax does not include the excise tax that the new owner should pay for the transfer of vehicle ownership.