Quick Answer: Is A Bill Of Sale Required In Illinois?

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..

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.

How much is tax title and registration in Illinois?

Standard tax, title and license fees charged on a new vehicle in Illinois are as follows: Sales Tax: 7.25% (additional county taxes may also apply) Title Fee: $150. License and Registration Fee: $151.

Who keeps the bill of sale for a car?

Both the buyer and seller should receive copies of the bill of sale form. It’s important for the buyer to keep the bill of sale with the title of the vehicle for registration and licensing purposes, if necessary. However, all parties should keep them for their own personal records.

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…•

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.

Is a bill of sale enough to get a title?

In the state of California, it is required that you have a completed bill of sale before you register the vehicle. … You will also need to have your bill of sale in order to have the title of the car transferred. If you’re the seller of the vehicle, it’s important that you keep a copy of the bill of sale too.

Is a bill of sale proof of ownership?

A Bill of Sale is a legal document that details the transfer of ownership of an item between a seller and purchaser. … LawDepot’s Bill of Sale can be used in the Australian Capital Territory, New South Wales, Northern Territory, Queensland, South Australia, Tasmania, Victoria, and Western Australia.

How do I sell a car by owner in Illinois?

How to Sell a Car in IllinoisStep 1: Allow the Buyer to Have the Vehicle Inspected by a Third Party.Step 2: Clean Out the Vehicle.Step 3: Remove the License Plates.Step 4: Prepare Bills of Sale for Both Yourself and for the Buyer.Step 5: Collect Payment from the Seller.Step 6: Sign Over the Title.More items…

How much are tax title and license fees 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?

How do you sign over a title in Illinois?

Here’s what you need to do:Make 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 much does it cost for title transfer 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.

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). … The fair market value may be obtained from a licensed dealer. Note: A trade-in deduction is not allowed on this tax.

Do I need a bill of sale to sell my car in Illinois?

In Illinois, when you sell a car, you are required to remove the license plates and submit a valid title to the buyer that is signed and dated. … 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.