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</html>";s:4:"text";s:12863:"Private Purchase of a Vehicle. However, new Illinois residents who lease vehicles must submit out-of-state titles or other proof of ownership, such as a bill of sale… Private sellers generally are generally not covered by the Used Car Rule and don't have to use the Buyers Guide (discussed in Buying a Used Car: Dealer Sales). Using this Agreement, the Buyer and Seller can outline the terms and conditions of the sale and describe the vehicle that is being sold. You also can ask the seller if you can have the vehicle inspected by your mechanic before committing to a sale. Finding a Used Car on Autotrader is the best way to start your next used car purchase! You simply have to make sure that you are as prepared as possible. If you claim that the sale is a “gift,” you or the purchaser will still be charged taxes for the Fair Market Value of the vehicle. We provide sales tax rate databases for businesses who manage their own sales taxes, and can also connect you with firms that can completely automate the sales tax calculation and filing process. Illinois Vehicle Bill of Sale. The Illinois Motor Vehicle Bill of Sale is a legal document that is utilized between to parties to establish the sale and purchase of a motor vehicle.This document will provide proof of the details of the sale, change of ownership and any known defects. It should contain the name, address and phone number of both the buyer and seller. Don’t allow the buyer to drive the car away with your plates still attached to it. Auto Bill of sale for Illinois… The taxes are based on the year of the car. In Illinois, there is no official bill of sale, so you can make your own. The tax information should be kept separate from the bill. No sale is complete until the paperwork has been filed with the Illinois Department of Vehicles. They must also make sure the Vehicle … Dealer & Agent Section P.O. Submit a completed Seller’s Report of Sale, Form VSD 703 to the Illinois SOS Vehicle Services Department. RUT-50 Private Party Vehicle Use Tax Chart RUT-6 RUT-50 Reference Guide - For private party vehicle sales occurring on or after July 1, 2015. eBay cars and trucks for sale by owner. Call the Secretary of State or … RUT-7: Instr. iSeeCars.com analyzes prices of 10 million used cars daily. Also, don’t confuse the Bill of Sale with a Notice of Sale, which all sellers of private vehicles are legally required to submit to Illinois’ Vehicle Services department. Search 35 listings to find the best deals. This page covers the most important aspects of Illinois' sales tax with respects to vehicle purchases. Suggestions. Not obtaining the Private Party Vehicle Tax Transaction form from the SOS office. Fill it out with the buyer and return it along with the license plates to the DMV. When you sell and/or release interest in a vehicle that is titled and/or registered in the State of Illinois… 408 Springfield, IL 62756 www.cyberdriveillinois.com This space for use by Secretary of State. Apart from this, any transfer of title requires the Tax Form RUT-50 (Private Party Vehicle Tax Transaction) to be filled up. Latest News from. The older it is, the less you will have to pay. Save $1,979 on Cars for Sale by Owner in Illinois. The contract lists the critical factors of the transaction such as the relevant information on the buyer, seller, item, and sale terms. Can a private party file a lien on a vehicle? To legally transfer the car, you must sign the title over to the buyer. CNET. This document can be used to sell a four-wheeled vehicle such as … TVGuide.com. Click here to get more information. Technically, you are only allowed to drive in the 24-hour period to get to … For vehicles that are being rented or leased, see see taxation of leases and rentals. illegal to operate a vehicle with someone else’s license plates. If you buy your vehicle from a private party without the assistance of a dealer, you can legally drive the vehicle without a license plate for 24 hours, but you must have the title to the vehicle with you when you are driving. For insurance reasons we would prefer to transfer the title at the beginning but I'd like to protect my interest in the vehicle until the payments are complete. Allow the buyer and return it along with the license plates to the buyer and seller - to get in... Honest than a dealer there are a variety of eBay trucks for sale by the.! Report of sale forms conduct a written transfer for a vehicle in Illinois part... Involving a used vehicle dealer car on Autotrader is the best way to start your next used car sale a! 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