An Iowa Vehicle Bill of Sale: What To Know
Source: Pixabay
An Iowa Vehicle Bill of Sale is a vital document recommended and, sometimes, required by the government whenever you are buying or selling a vehicle. Bills of sale are obtained and filed at each state’s motor vehicle office, in this case, the Iowa DOT. You need to know some essential things about an Iowa Vehicle Bill of Sale, so keep reading to find out more!
Iowa Vehicle Bill of Sale Requirements
In Iowa, a bill of sale is not always required; however, consumers are encouraged to complete and sign one even when it is not. In most Iowa counties, a bill of sale is necessary when transferring vehicle titles from one party to another. Some counties only require one when the sale is from a dealership to a private party, while others require them for third-party sales.
This document offers legal protection for both the buyer and the seller, especially during the transfer of ownership. A bill of sale is a part of the process before the buyer receives the vehicle title.
Whether you are buying a car from a private seller, trading it to a dealership, or selling to another individual, a completed bill of sale acts as proof of the details of the transaction.
The requirements in each state can be a little bit different. A bill of sale in Iowa will typically have the following information to be considered a valid document:
FEEL SECURE IN THE CAR YOU CHOOSE
You don’t want to buy a car - you want to get the best deal on the car you’re looking for. The CoPilot app will notify you if there’s a similar vehicle in your area at a better price, so you’re always certain you got the best deal available.
Contact Information
The first section of an Iowa bill of sale is the contact information for both the buyer and the seller. This basic information is necessary to certify the deal and ensure that the parties can be reached if any issues arise.
Seller Information
The vehicle’s seller must provide their full name, address, phone number, and signature for the bill of sale to be considered complete. This information is necessary in case of issues, or the sale of the vehicle is called into question. For example, you may need to contact the seller if they fail to complete a portion of the bill of sale, title, or other documentation.
Buyer Information
The buyer of the vehicle must also provide their full name, address, phone number, and the date of the assignment of the title. In many states, the buyer will also sign the bill of sale during the transaction. This information simply certifies that the transfer of ownership has occurred and acts as temporary proof of ownership while you await your new vehicle title. If you are pulled over, in an accident, or your vehicle is stolen, this documentation will serve as legal protection for you in any instance.
THE BEST TWO-SEATER CARS
If you’re in the market for a speedy two-seater, we’ve got you covered. Check out our list of the best two-seater cars on the market today.
Vehicle Information
The vehicle’s year, make, and model must be provided on an Iowa bill of sale. In addition, the vehicle license plate and the Vehicle Identification Number (VIN) must be filled out to complete the document. Every car has a unique VIN that acts as an identifier for the state, law enforcement, dealerships, and private parties. With a VIN, your car can be positively identified against other vehicles of a similar color, year, make, and model.
Sale Information
Lastly, the bill of sale must include the date of the sale and the purchase price to be considered a valid document. On the day the bill of sale is completed, the transfer of ownership is considered legally complete. The buyer must file the bill of sale and all other documentation with the state within 30 days to complete the certification of the sale with the Iowa DOT.
Iowa Vehicle Bill of Sale Differences
In Iowa, a certified notary public must also sign off on the bill of sale document. This requirement is not necessary for every state but serves as an extra layer of protection against theft, fraud, and other potentially damaging situations.
In Iowa, the issue of whether or not a bill of sale is required falls to the county level. In some counties, a bill of sale may be necessary for any transaction completed from a dealership or for no transactions. Even in counties where a bill of sale is not a requirement, it is still recommended and highly encouraged to complete one to both prove and protect your sale.
8 QUESTIONS TO ASK WHEN BUYING A USED CAR
So you’re in the market for a used vehicle? We’ve gone ahead and prepped some essential questions to ask when buying a used car.
Iowa Vehicle Bill of Sale Things to Know
To complete an auto title transfer in the state of Iowa, the buyer and seller must also complete the vehicle title, which includes the odometer disclosure and a damage disclosure. There will also be fees to transfer the vehicle title, varying from county to county.
Additional paperwork may also be required when buying or selling a vehicle to a dealership.
A bill of sale should always be completed in blue or black ink and never in pencil. Be sure to double-check that all information is truthful and accurate.
To complete a bill of sale in Iowa, you can either use a template as found online or at your local DOT office, or you may write up your own. Your document should be considered valid as long as all of the information is complete, including the signatures.
Final Thoughts
A bill of sale offers legal proof and legal protection of a transaction when you are in the middle of transferring a car’s ownership. Even in cases where a bill of sale may not be required, obtaining or completing one is highly recommended to protect yourself and the other party.
The transfer of ownership during the car buying experience does not have to be stressful! Completing a bill of sale during your vehicle transaction is a simple and easy way to verify the legality of your sale.
Frequently Asked Questions
When do you need a bill of sale in Iowa?
Although a bill of sale is required for transferring car titles in many states, it’s not strictly enforced by the Iowa Department of Transportation (DOT). However, a bill of sale is highly recommended if you’re buying or selling used vehicles in the state of Iowa. A completed bill of sale template is needed if the car is sold within the state. Meanwhile, a bill of sale isn’t required if the vehicle is sold to an out-of-state buyer.
Who needs a bill of sale in Iowa?
The bill of sale must be transferred from the seller to the buyer as the transaction is completed. The Iowa bill of sale template must be filled-up by the seller along with the necessary documents if the buyer is a resident of Iowa. A bill of sale is beneficial for transferring ownership rights and obtaining a car title certification.
What information goes into an Iowa bill of sale?
The vehicle bill of sale must be completed by the seller and given to the buyer. The following information must be provided:
- Personal information of the car seller
- The car’s Vehicle identification number (VIN), make, year, and model
- Buyer’s name
- Purchase date
- Seller’s signature
Get a Curated List of the Best Used Cars Near You
The CoPilot car shopping app is the easiest way to buy a car. Tell us what you’re looking for and we’ll search the inventories of every dealership in your area to make you a personalized list of the best car listings in your area.
Only looking for newer models? CoPilot Compare is the search engine for nearly-new cars. Only see cars five years or newer with low mileage — CoPilot Compare is the best way to find off-lease, early trade-in, and CPO cars.
The best part? CoPilot is built using the same technology that dealerships use to buy and sell their inventories, so we have more info on each vehicle than competitors. CoPilot doesn’t work with dealerships, so there are no sponsored posts or other shady practices — just the most info on the best cars. Check out our About Us page to see how CoPilot works.
