Illinois Vehicle Bill of Sale Form
The Illinois Vehicle Bill of Sale Form is a legal document that is used to register the sale of a vehicle in Illinois. It also notes the transfer of ownership between a buyer and a seller.
Why Do You Need an Illinois Vehicle Bill of Sale?
This form is used to transfer a vehicle title and registration in Illinois. It can be with the Secretary of State (SOS) or the Vehicle Services Department.
An Illinois Bill of Sale should also come with the:
- Identification number of the vehicle (VIN),
- Make
- Model
- Year
- Current reading of the odometer (in cars less than 10 years old).
The purchase price is also agreed upon, and it is written down in the document. This is used to calculate the sales tax. It should be signed by both the buyer and the seller so it's accepted by the SOS.
Notarization is not a necessity for the Illinois bill of sale. However, the odometer disclosure statement on the title must be filled out correctly..
Common Uses of an Illinois Vehicle Bill of Sale?
This form has different uses for both parties in the transaction:
|
S/N |
Seller |
Buyer |
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Indicates that they no longer own the vehicle. |
Serves as first-hand proof of their ownership. |
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|
Helps them give all the related liability to the new owner. |
Helps them register the vehicle. |
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|
Ensures the sale meets the requirements of the state. |
Accelerates the transfer of title. |
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Eliminates any possible conflicts that may arise in the future. |
Makes insurance and future resale possible. |
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Gives peace of mind. |
Gives security and peace of mind. |
Yes, to legally sell a car in Illinois, you need an Illinois Bill of Sale. It allows the buyer to transfer the title and register the car with the Secretary of State(SOS). The form is a proof of the purchase and helps transfer the ownership easily and correctly.
An Illinois Bill of Sale needs to have the full legal name and address of the buyer and the seller. It should also have the vehicle's details and the current odometer reading if applicable. It must also state the agreed-upon sale price and be signed by both parties to be legally valid.
Traditionally, an Illinois Bill of Sale does not require a notary to be legal. Yet, it is still necessary that the odometer disclosure statement (Form RT-4.7) is filled out and signed by both parties. Observing all the SOS rules is important.
In Illinois, the buyer needs the Illinois Bill of Sale and the seller's signed-over vehicle title. They also need the odometer disclosure and a completed Application of Vehicle Transaction (Form VSD 190). Then, they should pay the necessary fees and submit the documents to a local Illinois SOS office.