So, you’ve visited the car dealer and have decided to go for that cherry red Sonata you’ve been eyeing for a couple of weeks now? Cars don’t come cheap. When buying or selling a car, make sure a legal and binding contract is issued to finalize and formalize the deal.
When purchasing vehicles, you will need a Purchase Agreement that legally binds the buyer and the seller. Our Vehicle Purchase Agreement Forms are free. The templates are free, easy to access, downloadable, and printable for those quick car shopping decisions.
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Whether you’re planning to put your car up for lease and are in need of a Lease Purchase Agreement Form, or putting it up for sale and require a Car Sale Contract Form, our free templates cater to your every need.
Date and Names
The first part of a Vehicle Purchase Agreement should contain the date of the sale and the names of both the buyer and the seller.
The second clause of a Purchase Agreement points out the general background of the negotiation made between both parties, wherein the seller states his desire to sell the acquired vehicle to the buyer based on certain terms and agreements.
This part of the agreement states the vehicle’s particulars, its make and model, vehicle type, bodywork, performance, body color, year, miles, cubic capacity, serial number, vehicle identification number, initial registration, and insurance.
Terms and Conditions
This portion of the agreement will depend upon what terms and conditions both the seller and buyer have settled upon with regard to the sale and the purchase of the vehicle.
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Mode of Payment
The mode of payment typically indicates the total amount that the vehicle is being paid for. The down payment made or required to acquire the vehicle, the amount paid when the vehicle is delivered, or the installment plan schedule if the vehicle is acquired through installment are also indicated in this clause.
The date, time, and place of delivery is this shown here. This portion of the agreement also indicates the seller’s responsibility to keep the vehicle intact and in good condition until the delivery is made.
In some cases, such as in installment basis, the seller may indicate that the vehicle remains to be his property until the payment has been completed, even after delivery.
Representations, Warranties, and Disclosures
In this clause, sellers can indicate that the vehicle is sold “as is.” Full disclosure of vehicle flaws and buyer representation that allows a buyer to enter into a contract is also stated in this portion of the agreement.
Once both the buyer and the seller have acknowledged the contents of the agreement and have sought legal advice, if warranted, the names in print and the signatures of both parties should be indicated in the agreement along with the date that the contract was signed.
When purchasing secondhand vehicles, a vehicle purchase agreement form is necessary. It protects not only the buyer, but the seller too. Save yourself from losing a lot of time and money. Our Car Sale Forms will cover the necessary details you will need to make that sale or bring home that car fast and easy.
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