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Financed Purchase bill of sale — Hattiesburg, Mississippi

Financed Purchase Payment Bill of Sale for Horse Trailer in Hattiesburg, MS

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for th… Complete your Hattiesburg horse trailer financed purchase transaction at the Forrest County Tax Collector.

HattiesburgMississippiHorse TrailerFinanced Purchase

Financed Purchase Horse Trailer Sale in Hattiesburg

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 Hattiesburg, Mississippi, the local office handling title transfers is the Forrest County Tax Collector at 630 Main St, Hattiesburg, MS 39401. The combined sales tax rate is 5.00%. 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 — Forrest County

DMV / Title Office

Forrest County Tax Collector

Address

630 Main St, Hattiesburg, MS 39401

Phone

(601) 545-6053

Office Hours

Mon–Fri 8:00 AM–5:00 PM

Local Fees & Taxes

Title Transfer Fee

$9.00

Sales Tax Rate

5.00%

Base Registration Fee

$14.00

Mississippi 5% use tax on private vehicle purchases

Notarization: NOT REQUIRED

Mississippi does not require notarization.

Hattiesburg 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.
  • Mississippi applies 5% sales tax on vehicle purchases (reduced rate) on vehicle purchases, collected when the buyer registers the vehicle.
  • Mississippi requires notarization for the title transfer — sign the bill of sale before a notary as well.
  • Mississippi does not mandate a specific bill of sale form; a complete written bill of sale is accepted.
  • An odometer disclosure is required on the Mississippi title transfer.
  • Title transfer at Forrest County Tax Collector within 30 days
  • 5% use tax applies
  • Seller must sign title assignment
  • Odometer disclosure required for vehicles under 10 years old

Mississippi forms and documents

  • TILA Disclosure Statement
  • Retail Installment Contract or Loan Agreement

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.

Hattiesburg at a glance

Population

48,507

Median Household Income

$44,140

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Frequently asked questions

How does a financed purchase horse trailer sale work in Hattiesburg?

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 Hattiesburg are handled at the Forrest County Tax Collector (630 Main St, Hattiesburg, MS 39401). 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 horse trailer purchase in Hattiesburg?

The combined sales tax rate in Hattiesburg is 5.00%. Mississippi 5% use tax on private vehicle purchases

How does financed purchase affect the title transfer process in Hattiesburg?

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 Forrest County Tax Collector (630 Main St, Hattiesburg, MS 39401) with payment for the $9.00 title transfer fee.

Is notarization required for a financed purchase horse trailer bill of sale in Hattiesburg?

No. Mississippi does not require notarization.

What are the legal requirements for a financed purchase horse trailer sale in Mississippi?

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 Hattiesburg?

Yes. A properly completed bill of sale with financed purchase payment terms is legally binding in Mississippi. Both buyer and seller should sign and retain a copy. Bring it to the Forrest County Tax Collector to complete the title transfer.

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