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Trade-In bill of sale — Troy, Michigan

Trade-In Payment Bill of Sale for Side by Side in Troy, MI

A trade-in transaction involves two simultaneous vehicle transfers: the buyer trades their existing vehicle to the selle… Complete your Troy side by side trade-in transaction at the MI Secretary of State – Troy Office.

TroyMichiganSide by SideTrade-In

Trade-In Side by Side Sale in Troy

A trade-in transaction involves two simultaneous vehicle transfers: the buyer trades their existing vehicle to the seller, and the seller transfers the purchased vehicle to the buyer. If the vehicles are not of equal value, one party pays the agreed cash difference.

In Troy, Michigan, the local office handling title transfers is the MI Secretary of State – Troy Office at 1605 E Big Beaver Rd, Troy, MI 48083. 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

Each vehicle in a trade-in transaction should have its own bill of sale. The bill of sale for the purchased vehicle should reference the agreed trade-in value and any additional cash paid. Many states allow buyers to deduct the trade-in value from the taxable purchase price, reducing sales tax owed on the acquired vehicle.

How trade-in affects title transfer

Both vehicles must have clear titles in the name of the current owner before the exchange. Each party signs over their vehicle's title to the other. If either vehicle has an outstanding lien, that debt must be settled or assumed as part of the transaction terms — and the lender must release the lien before title can be transferred.

Local DMV — Oakland County

DMV / Title Office

MI Secretary of State – Troy Office

Address

1605 E Big Beaver Rd, Troy, MI 48083

Phone

(888) 767-6424

Office Hours

Mon–Fri 9:00 AM–5:00 PM

Local Fees & Taxes

Title Transfer Fee

$15.00

Sales Tax Rate

6.00%

Base Registration Fee

$20.00

Michigan statewide rate 6% — no local vehicle sales tax

Notarization: NOT REQUIRED

Michigan does not require notarization for private vehicle sales. A signed title is the primary transfer document.

Troy Trade-In Transfer Checklist

  • Document both vehicles (the one sold and the one traded), the agreed trade-in allowance, and any net cash difference.
  • If the state allows a trade-in sales-tax credit, tax may apply only to the net difference rather than the full price — confirm with the state agency.
  • Complete a separate title transfer for each vehicle that changes hands.
  • Michigan applies 6% use tax on purchase price on vehicle purchases, collected when the buyer registers the vehicle.
  • Michigan does not require notarization for a private-party bill of sale, though notarized signatures are more defensible.
  • Michigan’s official bill of sale form is TR-52 (Vehicle Bill of Sale).
  • An odometer disclosure is required on the Michigan title transfer.
  • Title transfer at a Secretary of State office within 15 days
  • Michigan 6% use tax on private vehicle purchases
  • Seller must sign the title and provide odometer reading
  • Buyer must obtain Michigan plates at the time of title transfer

Michigan forms and documents

  • Bill of Sale for each vehicle
  • Odometer disclosure for each titled vehicle
  • TR-52 (Vehicle Bill of Sale)

Key facts for trade-in transactions

  • Two separate bills of sale recommended — one for each vehicle
  • Trade-in value may reduce the taxable purchase price in many states
  • Both vehicles must have clear, lien-free titles before the exchange
  • Federal odometer disclosure required for both vehicles if under 10 years old
  • Document the agreed trade-in value and any cash difference in writing

Troy at a glance

Population

87,307

Median Household Income

$119,299

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Frequently asked questions

How does a trade-in side by side sale work in Troy?

A trade-in transaction involves two simultaneous vehicle transfers: the buyer trades their existing vehicle to the seller, and the seller transfers the purchased vehicle to the buyer. If the vehicles are not of equal value, one party pays the agreed cash difference. Title transfers in Troy are handled at the MI Secretary of State – Troy Office (1605 E Big Beaver Rd, Troy, MI 48083). Each vehicle in a trade-in transaction should have its own bill of sale. The bill of sale for the purchased vehicle should reference the agreed trade-in value and any additional cash paid. Many states allow buyers to deduct the trade-in value from the taxable purchase price, reducing sales tax owed on the acquired vehicle.

What is the sales tax on a trade-in side by side purchase in Troy?

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

How does trade-in affect the title transfer process in Troy?

Both vehicles must have clear titles in the name of the current owner before the exchange. Each party signs over their vehicle's title to the other. If either vehicle has an outstanding lien, that debt must be settled or assumed as part of the transaction terms — and the lender must release the lien before title can be transferred. Bring the signed title and completed bill of sale to the MI Secretary of State – Troy Office (1605 E Big Beaver Rd, Troy, MI 48083) with payment for the $15.00 title transfer fee.

Is notarization required for a trade-in side by side bill of sale in Troy?

No. Michigan does not require notarization for private vehicle sales. A signed title is the primary transfer document.

What are the legal requirements for a trade-in side by side sale in Michigan?

Trade-in tax credits vary by state. Some states (e.g., Texas, Ohio) provide a trade-in tax credit where only the difference between the trade-in value and purchase price is taxed. Other states tax the full purchase price regardless of trade-in. Both parties are responsible for completing federal odometer disclosure for their respective vehicles if they are under 10 model years old. Document both vehicles (the one sold and the one traded), the agreed trade-in allowance, and any net cash difference.

Is a trade-in bill of sale legally binding in Troy?

Yes. A properly completed bill of sale with trade-in payment terms is legally binding in Michigan. Both buyer and seller should sign and retain a copy. Bring it to the MI Secretary of State – Troy Office to complete the title transfer.

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