Do you need a separate bill of sale?
Conditional — required if the price is not on the title
Read this one carefully, because it is the trap. If everything is completed correctly on the title, no bill of sale is needed. But a bill of sale IS required if the sale price is not listed on the title. Colorado calls it best practice either way, on form DR 2173 or a written equivalent carrying the purchase price, date, VIN, year, make, model and both parties' names and signatures. DR 2173 is a secure form, so it can also carry the federal odometer disclosure.
Source: Colorado DMV, Private Sale: Buying or Selling a Vehicle; form DR 2173