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Financed Purchase bill of sale — Burlington, Vermont

Financed Purchase Payment Bill of Sale for Jet Ski in Burlington, VT

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for th… Complete your Burlington jet ski financed purchase transaction at the VT DMV – Burlington Office.

BurlingtonVermontJet SkiFinanced Purchase

Financed Purchase Jet Ski Sale in Burlington

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 Burlington, Vermont, the local office handling title transfers is the VT DMV – Burlington Office at 108 Cherry St, Suite 101, Burlington, VT 05401. The combined sales tax rate is 6.00%. 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 — Chittenden County

DMV / Title Office

VT DMV – Burlington Office

Address

108 Cherry St, Suite 101, Burlington, VT 05401

Phone

(802) 828-2000

Office Hours

Mon–Fri 7:45 AM–4:30 PM

Local Fees & Taxes

Title Transfer Fee

$35.00

Sales Tax Rate

6.00%

Base Registration Fee

$76.00

Vermont statewide rate 6% — no local vehicle sales tax

Notarization: NOT REQUIRED

Vermont does not require notarization for private vehicle sales.

Burlington 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.
  • Vermont applies 6% purchase and use tax on vehicles on vehicle purchases, collected when the buyer registers the vehicle.
  • Vermont does not require notarization for a private-party bill of sale, though notarized signatures are more defensible.
  • Vermont’s official bill of sale form is VD-012 (Bill of Sale).
  • An odometer disclosure is required on the Vermont title transfer.
  • Vermont requires an emissions or smog test before the buyer can register the vehicle.
  • Vermont 6% purchase and use tax at title transfer
  • Title transfer at a VT DMV office within 30 days
  • Bill of sale required for all vehicle transfers
  • Seller must sign the title assignment

Vermont forms and documents

  • TILA Disclosure Statement
  • Retail Installment Contract or Loan Agreement
  • VD-012 (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.

Burlington at a glance

Population

44,649

Median Household Income

$68,854

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Frequently asked questions

How does a financed purchase jet ski sale work in Burlington?

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 Burlington are handled at the VT DMV – Burlington Office (108 Cherry St, Suite 101, Burlington, VT 05401). 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 jet ski purchase in Burlington?

The combined sales tax rate in Burlington is 6.00%. Vermont statewide rate 6% — no local vehicle sales tax

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

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 VT DMV – Burlington Office (108 Cherry St, Suite 101, Burlington, VT 05401) with payment for the $35.00 title transfer fee.

Is notarization required for a financed purchase jet ski bill of sale in Burlington?

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

What are the legal requirements for a financed purchase jet ski sale in Vermont?

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 Burlington?

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

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