Commercial Truck and Trailer Sale Agreement

What a good one includes

• The agreement must list the exact make, model, year, VIN, engine serial number, and current odometer reading for both the truck and the trailer.
• Specify the exact purchase price, the deposit amount, acceptable payment methods, and the precise timeline for the final balance transfer.
• Include an explicit guarantee from the seller that the vehicle is being transferred free and clear of all liens, leases, or outstanding transport taxes.
• Clearly state whether the vehicle is sold 'as-is' or if there is an active manufacturer or seller warranty being transferred with the sale.
• Outline where and when the physical transfer will occur, who bears the risk of loss during transit, and the buyer's right to a pre-purchase mechanical inspection.
• Detail the step-by-step responsibilities of both parties to execute and file the title transfer with the relevant DMV or state authority.

Common mistakes to avoid

• Buyers often assume a clean title is guaranteed, only to inherit outstanding unpaid maintenance liens or financing debt tied to the VIN.
• Sellers sometimes use generic 'as-is' wording that fails to legally shield them from claims regarding pre-existing hidden mechanical defects.
• Lumping both assets together under one description instead of separating their distinct VINs, titles, and specifications can cause major title-transfer delays.
• Parties frequently forget to specify who is responsible for ensuring the truck has a current DOT annual inspection sticker at the time of sale.

Frequently asked questions