You'll need to write a receipt once you've gotten payment for your vehicle.
The receipt is important because:
- It includes all the details of the sale: buyer and seller details, make/model, VIN, price, registration, sale date, etc
- It is proof of the sale and the transfer of ownership
- It protects you from future challenges about ownership, the car's condition when you sold it or payment
There's no 'right' way to write a receipt, but you and the buyer should have a copy. They should both include:
| Buyer information |
|
|---|---|
| Seller information |
|
| Vehicle details |
|
| Sale details |
|
| Signatures |
|
You might want to include more information on the receipt, depending on your car's condition, age and price. For example:
- A note that says 'The car is sold in its current condition. I’ve described it honestly and disclosed any known faults'
- Finance details - proof that any outstanding finance on the car has been paid off. Learn more about selling a car with outstanding finance
- Delivery details - if you've arranged any delivery
- Seller’s disclosure statement - a declaration of any known issues with the vehicle, such as accidents or major repairs. Be honest, remember buyers can also use Autotrader's Vehicle Check to see a vehicle's history.
- Receipt of acknowledgement - confirming the buyer has received all the relevant documents and keys related to the vehicle. Find out more about what documents you need when selling your car