How to Get a Bill of Sale in Arkansas
An Arkansas bill of sale is a document that contains specific information about a vehicle sale, such as the date of the vehicle transfer and the buyer’s and seller’s personal information. Completing a vehicle bill of sale is an important step, since this receipt offers protection to both parties involved in the sale of a motor vehicle.
For example, a car bill of sale can be presented by the previous or the new owner of a vehicle to resolve a potential dispute regarding the details of the vehicle transfer. This form is required by the Office of Motor Vehicle (OMV) of the Arkansas Department of Finance and Administration (DFA) in order to complete certain vehicle-related transactions, such as car titling and vehicle registration procedures. Learn when and where to get this document by reading the sections below.
When is a bill of sale necessary in Arkansas?
An Arkansas auto bill of sale is not required for transferring ownership of a vehicle, but it is necessary in certain circumstances. However, the form, even when not required, still offers an important layer of protection for many buyers and sellers who are not completing the transaction through car dealerships.
For example, motorists can use a bill of sale form to apply for a sales tax credits when registering a new vehicle after selling an old one. The form allows sellers to claim this tax credit through a DFA revenue office during the car registration process of the new vehicle.
The bill of sale template must be completed and signed within 45 days prior to registering the new vehicle in order for the department to grant the tax credit. A sales tax refund can also be obtained if the vehicle owner sells his or her old vehicle 45 days after registering the new one.
Another instance when an AR DMV bill of sale may be necessary is during the car title transfer process, which must be initiated when a vehicle changes ownership. In such cases, a vehicle bill of sale can help establish ownership of a car when it is submitted along with the appropriate title change and registration documents. Submitting a copy is also an important step when applying for certain specialty license plates, such as tags for antique vehicles.
Who needs an Arkansas bill of sale?
Since an Arkansas bill of sale form contains valuable information about the ownership transfer of a vehicle, both the buyer and the seller may have need of a properly filled out form in the future. For example, sellers can use the used car bill of sale in AR as proof that they are no longer in legal possession of the sold vehicle in order to avoid any responsibility for traffic violations that involve the vehicle in question.
By having a sale document of his or her old vehicle, the seller will also retain access to important information about the sold vehicle and the buyer, since the title registration must generally be transferred to the purchaser.
Buyers will typically need to obtain a bill of sale PDF when they are required to prove that they are the new owners of the vehicle. The agreement can also be used to verify the details surrounding the vehicle sale.
These general purposes of the vehicle bill of sale are an addition to the official function of the document during vehicle transactions conducted with the state OMV. Therefore, a copy is important for every party involved in the process of transferring vehicle ownership, as it facilitates future vehicle-related procedures and the resolution of legal issues related to the car sale.
How to Complete a Bill of Sale Form in Arkansas
To correctly complete an Arkansas bill of sale template, both the buyer and the seller will be required to enter several types of information. Ensure that your blank bill of sale includes the following information, regardless of your role in the sale:
- The buyer’s and the seller’s full names, addresses and phone numbers
- The date of purchase and the sale price
- The vehicle identification number (VIN) and the current odometer reading
- The year, make and model of the vehicle
- The signatures of both the buyer and the seller
Note: Check all auto bill of sale information for accuracy before signing it, as providing false statements is punishable by severe fines and penalties.
Finally, a sample bill of sale in Arkansas should be kept on file for future use. If you need the vehicle bill of sale to conduct official business with the state OMV, you will generally be required to submit it in person at a nearby motor vehicle office. However, before filling out the document, you may wish to ensure that you provide accurate information about the vehicle by obtaining a vehicle history report.