Illinois Bill of Sale PDF
Illinois at a glance: DMV Form: VSD 703 (Vehicle Bill of Sale) · Notarization Required: No · Title Transfer Deadline: 30 days from date of sale
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Bills of Sale in Illinois
Illinois requires a bill of sale for motor vehicle private sales. The Illinois Secretary of State provides a Vehicle Bill of Sale (VSD 703) form. The buyer must apply for title within 30 days of the sale.
Illinois charges 6.25% state sales tax on vehicle sales, plus local taxes. For private sales, the tax is calculated on the purchase price or the "fair market value" (whichever is higher).
Illinois Bill of Sale — Quick Reference
| Requirement | Illinois Rule |
|---|---|
| DMV Form | VSD 703 (Vehicle Bill of Sale) |
| Notarization Required | No |
| Title Transfer Deadline | 30 days from date of sale |
| Odometer Disclosure | Required |
| Sales Tax | 6.25% state + local taxes |
Illinois Legal Requirements
- Buyer must apply for title within 30 days of purchase.
- Odometer disclosure required.
- Bill of sale should show purchase price for tax purposes.
- Seller should complete the title assignment section and keep a copy.
Illinois Governing Laws
Read the full text of these laws at Cornell Law School's Illinois legal resources or your state legislature's official website.