Selling a car in Wisconsin is generally simple, but to avoid problems you and the buyer should know what Wisconsin law requires. Having a vehicle bill of sale form filled out properly will save you a lot of headaches down the road if odometer fraud or other issues arise.
Before you sell your car you must have a title to the vehicle in your name. You are not suppose to sell a car that isn't titled to you, this is unless you have a power of attorney from the titled owner or licensed dealer that gives you that legal authority. Selling a car you do not have the title for is not a legal transaction. In Wisconsin you also cannot sell a car you owe money on. If you owe money on the vehicle your title will show a lien. You must get a lien release from the lender first to be able to sell a car you owe money on. Lenders do not generally hand you a lien release unless you first pay off the car.
After you sell your car then you must sign and date the title in the specified "signature" area of the selling owner or owners. If there are more than one owner signature on the title and the names are separated by the word "and" then all owners must sign. If the names are separated by "or" then any of the owners can sign. If you've lost the title and no longer have it you can apply for a replacement title at the Wisconsin Department of Transportation. The original will become invalid once you apply for a replacement copy. Also, under federal law you are required to accurately fill in the odometer mileage statement on the title. Also on the title you must fill in the buyers name and address and selling price. The Department of Revenue checks suspiciously low priced car sales on titles.
Finally to have a legal copy of the whole transaction in case of later accusations of odometer fraud, or in case of a bounced check, etc., you will need to complete a auto bill of sale form or "Bill of Sale" for short. You will need to keep a copy of this for your records.
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"Selling a Car in Wisconsin" has been brought to you by the good people at Legal Forms Bank .Biz, where they maintain and update a legal forms databank. There, you can download your state's specific, up-to-date, do-it-yourself, Bill of Sale form. They also have other legal form kits like promissory note kits.
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