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Financed Purchase bill of sale — Salt Lake City, Utah

Financed Purchase Payment Bill of Sale for ATV in Salt Lake City, UT

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for th… Complete your Salt Lake City atv financed purchase transaction at the Utah DMV – Salt Lake Office.

Salt Lake CityUtahATVFinanced Purchase

Financed Purchase ATV Sale in Salt Lake City

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for the buyer to purchase the vehicle. The lender holds a security interest (lien) in the vehicle until the loan is fully repaid.

In Salt Lake City, Utah, the local office handling title transfers is the Utah DMV – Salt Lake Office at 380 W 2880 S, Salt Lake City, UT 84115. The combined sales tax rate is 7.75%. Notarization is not required for a private vehicle bill of sale in this jurisdiction.

Payment documentation requirements

When a bank or credit union finances the purchase, they typically pay the seller directly and the buyer repays the lender in installments. If the seller is providing financing (seller carry-back), a separate promissory note should document the loan terms, interest rate, payment schedule, and default provisions in addition to the bill of sale.

How financed purchase affects title transfer

In financed transactions, the title is issued with the lender's name noted as lienholder. The buyer receives a copy of the title but the lender typically holds the original until the loan is paid off. Once the loan is satisfied, the lender releases the lien and the buyer receives a clean title.

Local DMV — Salt Lake County

DMV / Title Office

Utah DMV – Salt Lake Office

Address

380 W 2880 S, Salt Lake City, UT 84115

Phone

(801) 297-7780

Office Hours

Mon–Fri 8:00 AM–5:00 PM

Local Fees & Taxes

Title Transfer Fee

$6.00

Sales Tax Rate

7.75%

Base Registration Fee

$44.00

Utah state rate 4.85% + Salt Lake County 1.1% + Salt Lake City 1.0% + transit 0.8%

Notarization: NOT REQUIRED

Utah does not require notarization for private vehicle sales.

Salt Lake City Financed Purchase Transfer Checklist

  • The federal Truth in Lending Act (TILA / Regulation Z) requires disclosure of the APR, finance charge, amount financed, and total of payments.
  • The lienholder must be recorded on the title so the lender’s security interest is perfected.
  • Keep the signed retail installment contract or loan agreement together with the bill of sale.
  • Utah applies 6.1% state sales tax plus local taxes (up to ~8.5%) on vehicle purchases, collected when the buyer registers the vehicle.
  • Utah does not require notarization for a private-party bill of sale, though notarized signatures are more defensible.
  • Utah’s official bill of sale form is TC-656 (Bill of Sale).
  • An odometer disclosure is required on the Utah title transfer.
  • Utah requires an emissions or smog test before the buyer can register the vehicle.
  • Title transfer at a Utah DMV office within 48 hours (not business days)
  • Utah sales tax collected at title transfer
  • Safety and emissions inspection required in Salt Lake County
  • Seller must sign the title assignment

Utah forms and documents

  • TILA Disclosure Statement
  • Retail Installment Contract or Loan Agreement
  • TC-656 (Bill of Sale)

Key facts for financed purchase transactions

  • Lienholder's name appears on title until loan is fully repaid
  • Seller financing requires a promissory note in addition to the bill of sale
  • Truth in Lending Act (TILA) disclosures required for seller financing
  • Existing liens on the vehicle must be cleared before title transfers
  • State usury laws cap the maximum interest rate in seller-financed deals

Important notice

If the vehicle still has an existing lien from the seller's own loan, that lien must be paid off and released before clear title can be transferred to the buyer. Never complete a financed purchase without confirming the title is free of prior liens.

Salt Lake City at a glance

Population

203,888

Median Household Income

$74,925

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Frequently asked questions

How does a financed purchase atv sale work in Salt Lake City?

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for the buyer to purchase the vehicle. The lender holds a security interest (lien) in the vehicle until the loan is fully repaid. Title transfers in Salt Lake City are handled at the Utah DMV – Salt Lake Office (380 W 2880 S, Salt Lake City, UT 84115). When a bank or credit union finances the purchase, they typically pay the seller directly and the buyer repays the lender in installments. If the seller is providing financing (seller carry-back), a separate promissory note should document the loan terms, interest rate, payment schedule, and default provisions in addition to the bill of sale.

What is the sales tax on a financed purchase atv purchase in Salt Lake City?

The combined sales tax rate in Salt Lake City is 7.75%. Utah state rate 4.85% + Salt Lake County 1.1% + Salt Lake City 1.0% + transit 0.8%

How does financed purchase affect the title transfer process in Salt Lake City?

In financed transactions, the title is issued with the lender's name noted as lienholder. The buyer receives a copy of the title but the lender typically holds the original until the loan is paid off. Once the loan is satisfied, the lender releases the lien and the buyer receives a clean title. Bring the signed title and completed bill of sale to the Utah DMV – Salt Lake Office (380 W 2880 S, Salt Lake City, UT 84115) with payment for the $6.00 title transfer fee.

Is notarization required for a financed purchase atv bill of sale in Salt Lake City?

No. Utah does not require notarization for private vehicle sales.

What are the legal requirements for a financed purchase atv sale in Utah?

Seller-provided financing is subject to the Truth in Lending Act (TILA, Regulation Z), which requires disclosure of the Annual Percentage Rate (APR), total finance charge, amount financed, and total payments. State usury laws may limit the maximum interest rate a private seller can charge. Dealer-provided financing is regulated at the state level and may involve additional disclosure requirements. The federal Truth in Lending Act (TILA / Regulation Z) requires disclosure of the APR, finance charge, amount financed, and total of payments.

Is a financed purchase bill of sale legally binding in Salt Lake City?

Yes. A properly completed bill of sale with financed purchase payment terms is legally binding in Utah. Both buyer and seller should sign and retain a copy. Bring it to the Utah DMV – Salt Lake Office to complete the title transfer.

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