What must be documented at the time of sale?

The correct response highlights the importance of having a bill of sale and any financing agreements signed at the time of sale. A bill of sale is a fundamental document that serves as a legal record of the transaction, detailing the vehicle's identification information, the parties involved in the sale, the purchase price, and the date of the sale. This documentation is essential for both the buyer and the seller, as it provides proof of ownership transfer and is often required for registration and titling purposes.

In addition, financing agreements are crucial if the buyer is financing the vehicle. These agreements outline the terms and conditions of the loan, including interest rates and payment schedules. Having these documents signed ensures that both parties clearly understand their obligations and rights regarding the vehicle purchase and financing.

On the other hand, a deposit receipt alone does not provide comprehensive documentation of the entire sale process and lacks crucial details necessary for legal and practical purposes. A verbal agreement, while it may indicate an understanding between the parties, does not hold up in legal contexts without written confirmation. Similarly, while a buyer’s manual and warranty information are important for the buyer, they do not constitute the official transaction records required at the time of sale. Their importance is more about providing information after the purchase rather than documenting the