Illinois Vehicle Bill of Sale Template

What makes a vehicle different: This is the document the state agency actually expects for a car or light truck, and the one place where the stated price does double duty: it evidences the sale and it sets the tax the buyer will be assessed. Where a state compares the declared price against a published valuation, writing a courtesy figure below the real one creates a tax problem for the buyer rather than a favour.

Identifying the vehicle: Record the vehicle identification number, copied from the dashboard or door jamb and matched against the title rather than the seller's advertisement, together with the make, model, model year, and the reading on the odometer at the moment of sale.

Mileage and hours: Federal law requires the odometer reading to be disclosed on transfer, and the rule changed in a way most forms have not caught up with. Under 49 CFR 580.17 a vehicle of model year 2010 or earlier becomes exempt 10 years after its model year, but a vehicle of model year 2011 or later is exempt only after 20 years. In practice that means nearly every car being sold privately today still requires a disclosure, including ones well over a decade old.

Tax on the sale: In Illinois, private-party vehicle sales are subject to the private-party vehicle use tax based on purchase price (tax rate varies by price bracket: $25 for vehicles under $2,000, up to $1,500 for vehicles $30,000+).

Notarization: not required for private-party vehicle sales, but a notarized bill of sale is recommended for high-value transactions and required for certain watercraft.

Both signatures: The document should be signed by seller and buyer and a copy kept by each, since it is the only record either party holds if the transfer is later questioned.

Sold as seen: A private sale in Illinois carries no implied warranty unless the parties write one in, so state plainly whether the vehicle is sold as-is.