Transfer of OwnershipĪ bill of sale is also vital when selling or buying a motor vehicle because it signifies the transfer of ownership from the legal owner to the buyer. Registration cannot take place without a valid bill of sale. In Ontario, the buyer of a used vehicle must register the car within six days of the purchase date. As a result, you'll always need to produce a bill of sale whether you're selling or buying a vehicle.
Why You Need a Bill of Sale in OntarioĪlthough buying and selling vehicles is different throughout Canada, a bill of sale - similar to a sales receipt - is a vital document for the purchase or sale of a used vehicle in Ontario for numerous reasons: registration, transfer of ownership, and sales tax.
By understanding the significance of this form and what it must contain, you can turn a potential hurdle into a seamless, stress-free transaction. This important form is an integral part of the transfer of ownership of a used car, whether you're the buyer or seller.Ī bill of sale in Ontario isn't a standardized form like many other car ownership documents, so it often needs clarification. When buying a used vehicle, you may be most concerned about the test drive results, purchase price, odometer reading, and sales tax but don't forget about the bill of sale.
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