Is a Vehicle Bill of Sale Required in Arkansas?
Arkansas vehicle bill of sale is required for several reasons. First, the Arkansas Department of Finance and Administration (DFA) requires a car bill of sale for transferring the title and registering a vehicle. It ensures that ownership is properly transferred and helps prevent fraudulent activities.
When individuals engage in private vehicle sales, having a proper bill of sale ensures that both parties understand the terms of the sale and can reference the agreement in case of any misunderstanding. The information in the bill of sale form is also used for taxation purposes and to maintain accurate records of vehicle transactions.
Using the official bill of sale form provided by the Arkansas DFA is crucial to ensure that you include all the required information and adhere to the state's legal guidelines. For the seller, the document establishes that they are no longer responsible for the vehicle's operation or any incidents that occur after the sale. For the buyer, the form ensures they will get what they want for the agreed amount of money.
To sum up, a car bill of sale form will serve as legal evidence that ownership of the vehicle and is required for the following:
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Title Transfer and Registration
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Liability Release
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Taxation and Record-Keeping
How to Register a Vehicle in Arkansas?
According to Arkansas law, the vehicle must be registered in a particular way. The registration process should be started no later than 15 days and completed within 30 days after buying. The Department of Revenue Office keeps the vehicle registration paper.
The vehicle must undergo a VIN inspection if it hasn’t been registered in Arkansas before. VIN stands for Vehicle Identification Number, which is unique for every item of transport.
Keep the former license plate number close at hand in case of buying a used vehicle. As for documents needed for registration, it depends on several factors:
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For vehicles bought from a dealer, a copy of the Manufacturer’s Certificate of Origin is required. The buyer should complete Form 10-381 for vehicles bought not from official dealers.
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For leased vehicles, a signed copy of the lease agreement is required.
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You must enclose the odometer disclosure statement if your vehicle was manufactured less than ten years ago. For this data, you may use Form 10-313 or the back of the title.
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You will need to provide confirmation from your county assessor’s office that the vehicle is assessed or will be assessed this year.
To complete the registration process in Arkansas, the vehicle’s new owner should pay all the property taxes and be ready to pay registration fees and purchase insurance.
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