A trailer is a long lorry-like vehicle. It possesses 12 wheels in total and is used to haul a huge quantity of load from one point to another, typically by use of one powerful engine. The “Trailer Bill of Sale” is a legal business document that facilitates the transfer of the trailer from one person to another.
It comprises the information about the trailer like its unique vehicle identification number (VIN), the terms of the exchange, amounts involved and the deadlines wherein the amounts have to be cleared. Being legal and binding, it also vouches for the ownership of the vehicle.
What information should be part of the bill of sale?
Purchase Price: It is the amount of money for which the trailer is bought or sold.
Buyer’s Name and Mailing Address: Showcases the identity of the buyer of the commodity and his mailing or postal address.
Seller’s Name and Mailing Address: Displays the identity of the seller of the trailer alongside his mailing or physical addresses.
Trailer Details: These details explain the trailer in totality. It incorporates those issues that uniquely set the trailer farther apart from the others. They include:
Make: The name of the company that manufactures the trailer.
Model: It is the precise specification of the make of the trailer.
Year of manufacture: This refers to the exact year when the trailer was produced and released to the market.
17 character VIN: A 17-digit number that uniquely distinguishes your trailer from any other
Date of sale: It is the day when the trailer is officially passed on from one person (present owner) to another one (buyer/new owner).
Witness’s Signatures: Those who witnessed the transfer of the property from one person to another append their signatures as proof that the transaction did indeed occur. The names have to be in print and dated.
Notary Acknowledgement: Though not a must, it is strongly recommended that you obtain an acknowledgment from a notary public. This is the one that gives the document the ‘official character.’
Bill of Sale Form
Tips for Selling a Trailer
We now examine some of the tips that may expedite the sales of a trailer:
Repair and Repaint the Trailer: Start by repairing and repainting the trailer. A trailer or any other piece of equipment that looks new is more likely to fetch a better price than that which is shabby and poorly kept. That is because it gives the illusion of newness.
Valuate the Trailer: Move on now to valuate the trailer. This entails ascertaining how much the trailer might go for under the current market prices. It factors such issues as the odometer reading, year of manufacture, physical conditions, and the prices that competitors are charging.
Determine where to sell the trailer: Now determine where exactly you intend to sell the trailer. The exact location may often make or break the situation. A trailer that is sold in a developed country fetches more than that which is manufactured in a poorer country. You definitely want to make more, don’t you?
Prepare a good Advertisement: You need to notify your potential buyers of the existence of your trailer and how much it is likely to cost. To be able to achieve this end, you have to prepare a good advertisement. It has to contain all the details that pertain to the transaction and trailer.
Be open for negotiations: Always be open to negotiations. It is not always that you will find a buyer who is willing to purchase your trailer at the set price and other terms of references. Opening up makes you flexible and better placed to close a deal. Do not forget to be courteous too!