The car sales payment agreement template is a legal document that protects both the buyer and seller. The buyer has to put down a deposit as well as signing an agreement with the terms of repayment for their purchase. This agreement can be used by either party in case there are any disputes between them about how much was owed or if they were able to pay at all. Blog post intro paragraph: The Car Sales Payment Agreement Template is a legal document that protects both the buyer and seller. The buyer has to put down a deposit, which varies depending on what kind of vehicle it is, and sign an agreement with the terms of repayment for their purchase.
In the list, there is some information regarding the car sales payment agreement template. This site provides information about the form's size, completion time, and the areas you can be required to fill.
|Form Name||Car Sales Payment Agreement Template|
|Form Length||6 pages|
|Avg. time to fill out||1 min 30 sec|
|Other names||private party car financing contract, finance car template, contract financed auto, owner contract car|
VEHICLE SALES AGREEMENT
THIS VEHICLE SALES AGREEMENT is made this ____ day of ____________, 20___, by and
among _______________________ of _________________________ (hereinafter known as
"Seller") and ______________, of ____________________ (hereinafter known as "Buyer").
Buyer and Seller shall collectively be known herein as "the Parties".
WHEREAS, Seller desires to sell the vehicle described below, known herein as the "Acquired Vehicle", under the terms and conditions set forth below;
WHEREAS, Buyer desires to purchase the Acquired Vehicle offered for sale by Seller under the terms and conditions set forth below; and, therefore,
TERMS AND CONDITIONS
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by the Parties as set forth herein, the Parties, intending to be legally bound, hereby agree as follows:
A.Description of Acquired Vehicle.
3.Body Type: __________
4.Body Color: __________
7.Vehicle Identification Number ("VIN"): __________________________
1.Purchase Price. The total purchase price to be paid by Buyer to Seller for the Acquired Vehicle is ______________________________ dollars ($_______) (U.S.) (hereinafter "Purchase Price") consisting of the following components:
ii.Payment Due at Delivery of Vehicle to Buyer: $__________
C.Delivery of Acquired Vehicle and Conveyance of Title
1.Delivery of Acquired Vehicle. Seller shall deliver the Acquired Vehicle, and Buyer shall take possession of same, at Seller's premises (either in person or through a third party) on or before __________ ("Delivery Date"). If delivery is to be made at a date after the execution of this contract, it is Seller's duty to ensure that the Acquired Vehicle is delivered in the same condition as when last inspected by the Buyer (or, if no Buyer inspection, the execution date of this agreement). It is Buyer's duty, either in person or through a third party to appear at Seller's premises during standard business hours on or before the Delivery Date to remove the Acquired Vehicle from Seller's premises. However, if Buyer fails to appear at Seller's premises on or before the Delivery Date to accept
possession of the Acquired Vehicle, then risk of loss passes to the Buyer on the Delivery Date.
2.Conveyance of Title. Seller shall convey title to Buyer upon delivery of the vehicle to Buyer. Seller agrees and covenants to execute all documents presented by Buyer which are necessary to finalize transfer of title and registration upon the Acquired Vehicle to Buyer.
D.Representations, Warranties, and Disclosures
This vehicle is sold "AS IS", and Seller does not in any way, expressly or impliedly, give any warranties to Buyer. Seller expressly disclaims any implied warranties of merchantability or of fitness for a particular purpose.
2.Odometer Declaration. Seller hereby states that the odometer in the Acquired Vehicle now reads __________miles and to the best of Seller's knowledge it reflects the actual mileage of the vehicle described herein.
3.Buyer Representation. The individual signing this agreement on behalf of Buyer hereby represents to Seller that he or she has the power and authority to do so on behalf of Buyer.
E.Buyer's Responsibility −− Insurance and Tags. Buyer acknowledges that unless prohibited by applicable law, any insurance coverage, license, tags, plates or registration maintained by Seller on the Acquired Vehicle shall be canceled upon delivery of the Acquired Vehicle to, and the acceptance of, by Buyer.
F.Continuation of Representations and Warranties. All representations and warranties contained in this Agreement (if any) shall continue in full force and effect after execution of this agreement. If either party later learns that a warranty or representation that it made is untrue, it is under a duty to promptly disclose this information to the other party in writing. No representation or warranty contained herein shall be deemed to have been waived or impaired by any investigation made by or knowledge of the other party to this Agreement.
G.Indemnification of Attorneys Fees and
H.Integration. This Agreement, including the attachments mentioned in the body as incorporated by reference, sets forth the entire agreement between the Parties with regard to the subject matter hereof. All prior agreements, representations and warranties, express or implied, oral or written, with respect to the subject matter hereof, are hereby superseded by this agreement. This is an integrated agreement.
I.Severability. In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of this Agreement shall then continue in full force and effect. If any provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope and breadth permitted by law.
J.Modification. Except as otherwise provided in this document, this agreement may be modified, superseded, or voided only upon the written and signed agreement of the Parties. Further, the physical destruction or loss of this document shall not be construed as a modification or termination of the agreement contained herein.
K.Acknowledgements. Each party acknowledges that he or she has had an adequate opportunity to read and study this Agreement, to consider it, to consult with attorneys if he or she has so desired.
L.Exclusive Jurisdiction for Suit in Case of Breach. The Parties, by entering into this agreement, submit to jurisdiction in __________________ for adjudication of any disputes and/or claims between the parties under this agreement. Furthermore, the parties hereby agree that the courts of ___________________ shall have exclusive jurisdiction over any disputes between the parties relative to this agreement, whether said disputes sound in contract, tort, or other areas of the law.
M.State Law. This Agreement shall be interpreted under, and governed by, the laws of the state of ___________________.
IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing, Seller and Buyer affix their signatures hereto.
Dated: _____________ ____, 20__
Dated: _____________ ____, 20__