Do I Need A Bill Of Sale To Sell My Car In Illinois?

How much is tax title and registration in Illinois?

How much does it cost to title and register my vehicle in Illinois.

The total fee for a standard vehicle is $301 ($150 vehicle title + $151 registration/license plates).

If there are two names on the back of the title, do both parties have to sign title and registration applications.

Yes..

How much does it cost to transfer a car title and plates in Illinois?

Correct fee for title is $150.00, transfer of plate fee is $25.00. registration fees vary depending on the type of plates required for the particular vehicle. If an original title is lost the vehicle owner can apply for a duplicate title.

Can I register car with bill of sale?

Title. If you are buying a vehicle from a private party or receiving a vehicle as a gift, you must have a properly signed-off title to register the vehicle and transfer ownership. A Bill of Sale by itself is not acceptable.

Does a bill of sale show ownership?

Vehicle Bill of Sale Keep in mind, however, that a bill of sale does not prove ownership — only a title transfer does that. A bill of sale is only a record that a sales transaction occurred between two parties.

Is a notarized bill of sale legally binding?

In fact, many people refer to the document as a ‘bill of sale contract’. In most cases, the contract is legally binding between buyer and seller as long as the bill of sale follows guidelines required in the state where the sale or transfer takes place.

Do you need a bill of sale for a car in Illinois?

No. An Illinois bill of sale is not required to register a vehicle. However, a bill of sale can be a helpful document. A title is required and you are not allowed to operate the vehicle with the plates on the vehicle at the time that it is sold as those belong to the seller.

What do you need to sell a car privately in Illinois?

Understand Your Legal Liability When Selling A Car In IllinoisObtain and fill out the Illinois Notice of sale form.Remove the license plates from the car. … Confirm that the buyer has a valid driver’s license.Confirm that the buyer has valid car insurance.move all personal identification from the car.More items…•

Should I use a bill of sale to sell my car?

Legal protection A signed bill of sale provides important legal protections to the buyer and even to the seller. … Furthermore, without a bill of sale tickets on the vehicle, such as parking and speeding tickets, that are incurred by the new owner could become the responsibility of the previous owner.

Who pays sales tax when selling a car privately in Illinois?

The buyer must pay $95 to the Secretary of State, and a tax to the Department of Revenue. For vehicles worth less than $15,000, the tax is based on the age of the vehicle. It starts at $390 for a one-year old vehicle.

Can I get a title with a bill of sale in Illinois?

1. Evidence of your right to acquire a title, such as a bill of sale, receipt or canceled check. If evidence of your ownership is not available, a notarized statement explaining how you came into possession of the vehicle is required.

How do you pay for a used car from a private party?

Use money orders or a cashier’s check, if possible. You can meet the seller at your bank with a cashier’s check in hand—and they should have the title and keys in theirs. Don’t let sellers rush or pressure you. Don’t use wire services to send money until you have the car, the keys and a verified title in hand.

What states require a bill of sale for a car?

An automobile bill of sale or used vehicle bill of sale is like a receipt that proves you’ve transferred the car to the buyer. A car bill of sale is not required in all states—as of 2018, one is not required in Alaska, Illinois, Michigan, Tennessee, and a few others.

How do you sign over a car title to a new owner in Illinois?

What buyers need to doMake sure you receive the completed title from the seller. … Complete the Application for Vehicle Transaction(s).Obtain and complete the Private Party Vehicle Tax Transaction form, which can only be found at a local SOS office.Pay the $95 title transfer fee. … Name changes: $15 per name.More items…•

How do I get a bill of sale for a car?

A bill of sale for a car should include:The date of the sale.A description of the car, including its: Year, make and model. … The selling price of the car. If the car is a gift or partial gift, you should still create a bill of sale. … Warranty information. … The full names, addresses and signatures of the buyer and seller.

What paperwork is needed for a private car sale?

First, both parties should fill out and sign a Bill of Sale which lists the Vehicle identification number (VIN), agreed purchase price, odometer reading, and name/address of the buyer and seller. Next, the buyer needs to take care of the payment. The best way is at their bank, in person.

Do you need a bill of sale to transfer title in Illinois?

Submit a completed Seller’s Report of Sale, Form VSD 703 to the Illinois SOS Vehicle Services Department. In Illinois, there is no official bill of sale, so you can make your own. It should contain the name, address and phone number of both the buyer and seller.

Do you pay sales tax on a private car sale in Illinois?

Illinois private party vehicle use tax is based on the purchase price (or fair market value) of the motor vehicle, with exceptions noted on the right (i.e., for motorcycles and specific situations). For most purchases, you will use Table A or B to determine the tax amount.

Does a bill of sale have to be notarized in Illinois?

These documents protect both the seller and buyer and in many cases make it possible to register items with the state when needed. … These forms also prove change of ownership. If a document requires notarization, do not enter signatures until all parties are before a notary public.

What documents are needed to transfer car title in Illinois?

Items you will needIllinois form VSD-190.Illinois tax form RUT-50.Fee.Vehicle title.Current odometer reading.VIN number.