The Tennessee vehicle bill of sale is a non-mandatory yet helpful document for the parties of a private vehicle sale. It helps to identify the chain of vehicle’s ownership, its price of sale, and contains personal data of the seller and buyer. In this way, the transaction’s parties receive vital legal evidence of the transaction with all its details properly notarized. The bill of sale should also indicate relevant vehicle-related details such as the year of manufacture, its make, model, VIN, and the price at which the deal is set. Most importantly, concluding a bill of sale is a guarantee for both parties concerning the verification of the vehicle’s ‘as-is’ condition and provision of no additional guarantees by the seller.
Tennessee bill of sale templates – access more bill of sale forms for Tennessee together with guidelines.
You might also want to read our full article about bills of sale.
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Before you get ready to register your vehicle, you should take some important steps. Read the guide we prepared for new motor vehicle owners.
All new and used vehicles are registered by their new owners at the Tennessee Department of Revenue. They need to collect and submit the following documents to complete the registration:
The new owner should also provide sufficient evidence of paying all taxes and fees for the vehicle’s acquisition. In the state of Tennessee, such purchases are subject to a sales or use tax. The maximum at which the tax is set equals $36 on the first $1,600 of the car’s purchase price (which is the city or county sales tax). A single article tax equals 2.75% of the entire car price but no more than $3,200.
Personal vehicle registration in Tennessee is charged at $26.50 per personal vehicle. Commercial vehicles are subject to stratified fees, with a vehicle with less than 7 seats subject to a $49.88 fee, with 7-15 seats – to a $99.38 fee, with up to 25 seats – to a $165.38 fee, all up to $330.38 for a commercial motor vehicle withy 35+ seats. Semi-trailers and tractor trailers are charged $20.
Those who import a motor vehicle from another country need to provide Form HS-7 Declaration and a photo of the vehicle’s Federal Motor Vehicle identification number in addition to the documents mentioned above.
The directions here are centered around our custom-made bill of sale template. Nevertheless, if there’s a form supplied by your local officials, it’s advised to use it during the transaction.
Step 1: Specify when the document is created.
Step 2: Enter the buyer’s and seller’s particulars:
Step 3: Fill in the information regarding the motor vehicle that you are trying to sell:
Step 4: Choose how the purchaser will pay for the motor vehicle and for what amount.
This stage also involves specifying the exact date of the transaction and the overall amount approved by each party of the transfer. After that’s been performed, you should check the method of purchase:
After that, decide on one payment method:
The final thing to complete in this particular section is to choose whether or not all applicable taxes are included in the purchase price.
Step 5: Read the miscellaneous terms.
The “as-is” paragraph indicates that the seller gives no warranty and will not be responsible for maintenance after the transfer.
Step 6: Sign the form.
The buyer’s signature is usually not needed. Yet, you will be more protected from legal complications if all sides sign the bill of sale form. To be sure, the buyer and seller could find a person who’ll attest the transaction and sign the bill of sale as well.
Step 7: Have a notary public attest the document
Even though notarization is seldom necessary, it acts as yet another way to guard against legal troubles.
In most states, a bill of sale form might be necessary during title transfer, so the purchaser should have the original. There are two approaches here: you need to either prepare and sign a pair of identical bills of sale or make a copy for the seller to store.
