If you are planning to purchase or sell a vehicle in Illinois, consider using an Illinois motor vehicle bill of sale to record the transaction. Even though this document isn’t always necessary to use, it can be quite helpful when resolving legal disputes or proving ownership over your assets. In addition, a vehicle bill of sale may be necessary for registering a motor vehicle with the Illinois Secretary of State (SOS).
Is a Bill of Sale Necessary When Purchasing or Selling Vehicles in Illinois?
Unlike some other states, Illinois doesn’t always require residents to sign a bill of sale. For instance, when selling to or purchasing from a private party and receiving gifts, you don’t need to use a bill of sale. Nevertheless, it’s still strongly advised to sign the document, as it may assist in registering the vehicle. An Illinois motor vehicle bill of sale must be signed whenever purchasing automobiles from out of state, retail companies, or unregistered dealerships. A comprehensive guide issued by the state authorities is available on www2.illinois.gov.
An Illinois motor vehicle bill of sale should include a comprehensive set of data about the participating parties and the item being sold. Remember that you must utilize a state-authorized form to ensure compliance with the law. Illinois requires bills of sale to be notarized to obtain legal value. A printable PDF template of the document can be downloaded from this website free of charge. We also provide a form builder, which you can leverage to design a customized form.
How to Register a Car in Illinois?
If you are purchasing a vehicle from a registered dealership or a leasing company, a bill of sale is not necessary. The registration and titling procedures must be completed within 20 days from the date of purchase. If you’re buying from an individual or out-of-state dealer, you’ll have 30 days to register your vehicle. Documents needed to complete the registration procedure include:
- Bill of sale. This paper is necessary in several particular cases only. Refer to the official guide for more details.
- Vehicle title. It’s required to register any motorized vehicle in the state of Illinois. The title must be transferred to the new owner during the purchase.
- Insurance. The vehicle must be insured by a company licensed to operate in Illinois.
- Taxes and fees. For detailed information on taxes, please refer to the guide on www2.illinois.gov.
- Identification document. You’d need to use a driver’s license issued in Illinois or a state ID to register a vehicle.