Recently, MoDOT Transit updated the Vehicle Disposition Form (see PDF link below). It is important that sub-recipient’s use the newest form, as the old version will no longer be accepted.
Vehicle Disposition Form
A few things to remember:
When answering questions on the form, please circle Yes or No if this is a replacement vehicle and then only ONE of the following scenarios will apply:
1) You are requesting to sell the vehicle outright and will provide a detailed Bill of Sale from an auction house or from private bids. The bill of sale should show the same information that Missouri Department of Revenue/Motor Vehicle Bureau requires for a Notice of Sale.
Example of required information for Bill of Sale:
- Name of who you sold it to (Purchaser(s) name)
- The Bill of Sale should list the year, make, and complete VIN of the vehicle reported as sold
- Address of purchaser
- Sale amount
Also, for your convenience you may use form #1957 which is printable off the Missouri Department of Revenue website (https://dor.mo.gov/forms/1957.pdf). Submit a copy and keep the original for your records. You may submit a copy of the check as proof of the sale price. It is not acceptable to report sold for cash with no other documentation.
Please remember if a balance is due after the sale, MoDOT Transit will inform you of the amount the organization needs to forward to MoDOT. Respond with payment within 30 days of the sale date.
2) You want to buy-out the federal interest remaining in the vehicle(s). In this case, a fair market evaluation will be prepared, and your organization will receive an email from MoDOT Transit indicating what the fair market value of the vehicle was determined to be.
If the evaluation falls under $5,000, MoDOT will issue a lien release and the original title.
If the evaluation is greater than $5,000 or the minimum criteria of “Useful Life” has not been met, a balance may be remaining. Your organization will receive an email with details on the amount owed. After, your organization's check is received, the title and lien release will be mailed to the proper address on file. Once you receive the letter of release, title and lien release, we ask that you no longer report it on your annual active inventory report. The agency can continue to use it or sell it.
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