Car sale agreement is the document that is used to transact the sale of a car between buyer and seller. So, after buying the car, both you and the seller will get this document. That’s why you can request to make a document of sale agreement after doing transaction. You might need a template if you do not want to start from the scratch.
Who Needs Car Sale Agreement Template?
You will need this template if you:
• Own a Car and will sell the car.
• Purchasing the existing car.
• Purchasing certain car of someone.
• Transacting a merger and acquisition.
What the Information in a Car Sale Agreement Template?
The car sale agreement includes information like:
• The details of buyer and seller.
• The specifications of the car.
• The terms and options of the payment.
• Warranties and clauses.
• Supposed liability.
• Warranties and representation.
• Precedent of conditions.
• Dispute resolution and others.
Payment Terms and Options
After deciding the price of the car, payment terms will be required to be negotiated.
If the price balancing will not be paid fully on the deal date that is signed in a contract, you have to determine the closing date. You also have to choose whether there is deposit or not. It is so recommended for you if the balance of price will be paid on expired date. You will use a note of promissory to mention owing and the due date.
Payment options include:
• Partial payment of outstanding amount: It is the deal that the balance will be paid on closing date.
• Partial plus promissory note for outstanding amount: There is certain condition where the buyer will give the deposit down of the balance, and owe the rest as promissory note terms.
• Promissory note for outstanding amount: There will be no deposit that will be put by buyer if he pays on expired date.
Some Documents Related to Car Sale Agreement Template:
• Promissory note: it is the document that is used to detail the balance of owing between the buyer and seller.
• Partnership agreement: it is used to specify each partner’s responsibilities in a non profit related selling and purchasing transaction.
If you are getting confused with all items in the agreement, it should be better you ask for help from your lawyer or legal company to create and finalize an agreement for you. This template below is a sample you can also find in internet to be used just as a reference. Do not use this template as it is because it could be not fit with your transaction terms and conditions.
Car Sale Agreement Template (17.0 KiB, 983 hits)