Form 10-313, Vehicle Bill of Sale/Odometer Disclosure Statement is a vehicle bill of sale issued by the Arkansas Department of Finance and Administration. The document outlines the information about the sale and purchase of the vehicle and discloses the correct odometer reading at the moment of the transfer of ownership.
A PDF of the latest Form 10-313 can be downloaded below or found on the Department's Forms and Publications website.
This form is not as formalized as a deed or a title, however, it still represents a record of the vehicle sold. Additionally, it contains the odometer mileage reporting for the seller and the buyer to acknowledge. The transfer of ownership cannot happen unless the odometer disclosure is completed. It is also required to certify if the odometer reading does not represent the actual mileage creating the odometer discrepancy.
If a seller wishes to buy a new vehicle before or after selling the old car, it is possible to claim a tax credit, if the purchase took place within 45 days. In that case, it is necessary to use a Bill of Sale (Credit for a Vehicle Sold) to demonstrate the purchase of a replacement vehicle and receive a sales tax credit that is allowed for repossessions of motor vehicles.