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Financed Purchase bill of sale — Columbus, Ohio

Financed Purchase Payment Bill of Sale for Scooter in Columbus, OH

A financed vehicle purchase involves a third-party lender (bank, credit union, or the seller) providing the funds for th… Complete your Columbus scooter financed purchase transaction at the Franklin County BMV Title Office.

ColumbusOhioScooterFinanced Purchase

Financed Purchase Scooter Sale in Columbus

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 Columbus, Ohio, the local office handling title transfers is the Franklin County BMV Title Office at 373 S High St, Columbus, OH 43215. The combined sales tax rate is 7.50%. 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 — Franklin County

DMV / Title Office

Franklin County BMV Title Office

Address

373 S High St, Columbus, OH 43215

Phone

(614) 525-3090

Office Hours

Mon–Fri 8:00 AM–4:30 PM

Local Fees & Taxes

Title Transfer Fee

$15.00

Sales Tax Rate

7.50%

Base Registration Fee

$34.50

Ohio state rate 5.75% + Franklin County permissive tax 1.50% + transit 0.25%

Notarization: NOT REQUIRED

Ohio does not require notarization for a standard private vehicle sale. Both parties sign the title.

Columbus 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.
  • Ohio applies 5.75% state sales tax plus county taxes (up to 8%) on vehicle purchases, collected when the buyer registers the vehicle.
  • Ohio requires notarization for the title transfer — sign the bill of sale before a notary as well.
  • Ohio’s official bill of sale form is BMV 3774 (Bill of Sale for a Motor Vehicle).
  • An odometer disclosure is required on the Ohio title transfer.
  • Ohio requires an emissions or smog test before the buyer can register the vehicle.
  • Title must be transferred at the Franklin County Clerk of Courts Auto Title Office
  • Ohio sales tax collected at time of title transfer based on purchase price
  • Odometer disclosure required on the title for vehicles under 10 years old
  • Buyer must obtain Ohio title and plates before operating the vehicle

Ohio forms and documents

  • TILA Disclosure Statement
  • Retail Installment Contract or Loan Agreement
  • BMV 3774 (Bill of Sale for a Motor Vehicle)

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.

Columbus at a glance

Population

906,480

Median Household Income

$65,327

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Frequently asked questions

How does a financed purchase scooter sale work in Columbus?

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 Columbus are handled at the Franklin County BMV Title Office (373 S High St, Columbus, OH 43215). 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 scooter purchase in Columbus?

The combined sales tax rate in Columbus is 7.50%. Ohio state rate 5.75% + Franklin County permissive tax 1.50% + transit 0.25%

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

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 Franklin County BMV Title Office (373 S High St, Columbus, OH 43215) with payment for the $15.00 title transfer fee.

Is notarization required for a financed purchase scooter bill of sale in Columbus?

No. Ohio does not require notarization for a standard private vehicle sale. Both parties sign the title.

What are the legal requirements for a financed purchase scooter sale in Ohio?

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 Columbus?

Yes. A properly completed bill of sale with financed purchase payment terms is legally binding in Ohio. Both buyer and seller should sign and retain a copy. Bring it to the Franklin County BMV Title Office to complete the title transfer.

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