A Car Sale Receipt is a document used during a vehicle purchase transaction between two parties. Even though the name refers specifically to cars, you can use a Car Receipt when selling any motor vehicle.

The receipt documents the purchase of a vehicle and shows the transfer of ownership from the seller to the buyer. Often, both the seller and the buyer keep a copy of the receipt for their records.

A Car Sale Receipt is a more specific version of a general Bill of Sale. You can use a Bill of Sale to transfer ownership of any personal property from one person to another. However, a Car Sale Receipt can only transfer the ownership of a vehicle.

You can create a receipt for a vehicle purchase by completing LawDepot’s Car Sale Receipt questionnaire. LawDepot will guide you by asking for details about the buyer, seller, vehicle, price, and more, and then use your answers to create your Car Sale Receipt.

Both individual sellers and corporate sellers can use a Car Sale Receipt to transfer the ownership of a vehicle from one party to another. Individuals who are selling a used vehicle should provide a receipt to a purchaser so there is a clear record of the transfer of ownership. Corporate sellers should also be sure to have a record of the transaction.

If you find yourself in a situation when multiple people are collectively buying or selling a vehicle, you can list more than one seller or purchaser within a Car Sale Receipt.

If you are selling a vehicle, you should provide the purchaser with a Car Sale Receipt. Proper documentation is essential when selling substantial property, such as a vehicle. The receipt provides proof of the buyer’s ownership and responsibility for their purchase.

To properly complete your Car Sale Receipt, you will need to supply some information about the vehicle. Before you begin creating your document, you should know the following information about the vehicle:

• Make
• Year
• Model
• Body type
• Odometer reading
• Vehicle identification number (VIN)

There are multiple factors to consider when determining your vehicle’s listed price. If you list the sale price too high, there might not be much interest. But if you ask for too little, you may lose the opportunity to capitalize on the vehicle’s worth.

Having records of your vehicle’s maintenance or service history can help you ask for a higher price. If a potential buyer sees a vehicle’s extensive oil change or brake inspection history, you can justify a higher asking price.

When determining your listing price, also consider the odometer reading and year of the car. A car with a higher odometer reading should usually have a lower asking price. You should also consider any damage that has occured to the vehicle’s exterior when you are deciding your asking price.

You can buy or sell a vehicle with a number of different payment options. LawDepot allows you to indicate any of the following payment methods that will be included in your transaction:

• Banker's draft
• Cash
• Internet banking (e-transfer)
• Promissory Note

If none of these payment options are applicable, you can also specify that you will close the sale with a cheque, through PayPal, or any other viable payment method. Sellers should secure payment before handing over the keys to the buyer.

Lenders will typically not allow you to transfer a vehicle loan to a purchaser. In most situations, buyers should avoid transactions where there is a loan or lien against a vehicle unless they intend to accept full responsibility for the outstanding debt.

If the seller is transferring a loan to the purchaser, then the purchase price should be reduced by a corresponding amount.

While it is the seller who usually creates the Car Sale Receipt, it is recommended that each party have their own signed copies of the receipt so they both have a record of the transfer of ownership.