Vehicle Purchase Agreement 4
Vehicle Purchase Agreement 1
Vehicle Purchase Agreement 2
Vehicle Purchase Agreement 3
Vehicle Purchase Agreement 4
Vehicle Purchase Agreement 1

Vehicle Purchase Agreement

    When you buy a vehicle from a private owner, you should be extra cautious about the terms and conditions. To ensure that your car purchase is legal and safe, you can sign a vehicle purchase agreement with the owner. With our editable vehicle purchase agreement template, you can verify the odometer and warranty of the car before paying for it. Download our free vehicle purchase agreement sample below and buy your new car today.

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Vehicle Purchase Agreement
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Vehicle Purchase Agreement

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What does a buyer/seller need when they are looking to buy or sell their car? When it comes under this kind of transaction, a vehicle purchase agreement is used to finalize the deal.

The parties need to provide their name, address, and contact details as well as all the details regarding the vehicle involved. This legally formed agreement shall provide every detail that needs to be addressed before transforming the ownership of the vehicle.

Furthermore, before creating your own vehicle purchase agreement, let’s understand this agreement in depth.

What Is a Vehicle Purchase Agreement?

When a buyer purchases a car, a car purchase agreement is used to document the details of the purchased vehicle from a seller. This agreement predetermines the terms and conditions of the sale agreed upon by the buyer and the seller.

The provisions of the basic logistics of the vehicle such as delivery details and the final price are also stated in this legal document. Usually, car purchase agreements are used to sell four-wheeled vehicles like vans and cars, boats, or motorcycles.

This shall further be useful to provide as proof of purchase of the vehicle as well as its condition at the time of purchase. The agreement shall be prepared as detailed or in general as per the parties' requirements.

However, pertinent information about the purchased vehicle like the warranty, and legal clauses of broader shall necessarily be included.

Get a Free Vehicle Purchase Agreement Template Today!

You should always verify all car details before buying the vehicle. With our free vehicle purchase agreement template, you can avoid fraudulent sellers and buy a used car legally. Click below to download a free vehicle purchase agreement template.

Why Need a Vehicle Purchase Agreement?

The seller of the vehicle and the buyer uses this agreement to come under a mutual agreement of the ownership transfer of the vehicle. The purchase agreement of a car shall be used as a proof of purchase of a car in a certain condition.

If in the case of any future argument, fraud, or chaos, this agreement will be presented as a legal document to get justice. It also helps to know the fixed prices, the buyer is liable to pay without any hidden cost.

Moreover, for the purchase of a used car, a used car purchase agreement shall be prepared. Most of the fraud happens in the used car sector, so the buyer shall necessarily prepare this agreement to safeguard his rights.

What Is Included in Vehicle Purchase Agreement?

To make a car purchase agreement completely apt, all the crucial information shall be included in it. Here is a list of those terms:

  • Payment: The total purchase prices the buyer shall pay is stated in this term with the utmost description. It is broken into the down payment, payment at the time of delivery of the vehicle, and mode of payment. Also, any free goodies shall be mentioned.
  • Vehicle Description: Stating with the name of the person whom the vehicle is being sold to all the details of the vehicle like model number, color, mileage, VIN, year of manufacturing, and others shall be mentioned.
  • Terms and Conditions: Both the parties mutually agreed terms are mentioned related to the condition of the vehicle, necessary transfer of title and registration to the buyer, and more.
  • Warranty: The start and end date of the warranty or the number of years from the purchase date shall be written if any.
  • Odometer: To the best of seller knowledge the odometer reads accurate miles and has not been hamper under any condition.
  • Buyer’s Insurance and Tags: All the insurance, license, plates, coverage, tags or registration shall become the buyer’s responsibility upon delivering the purchased vehicle.
  • Severability: In case any provision in the agreement is found to be void or invalid, that clause shall be severed from the agreement without affecting the remainder. All remaining provisions shall then continue as it is.
  • Modification: The agreement could be modified, voided, or superseded only upon written and signed agreement of both the parties.
  • Acceptance: The consent of the seller who agreed-upon selling the vehicle and the buyer who agreed upon buying it needs to be finalized after signing the agreement.
Get a Free Vehicle Purchase Agreement Template Today!

You should always verify all car details before buying the vehicle. With our free vehicle purchase agreement template, you can avoid fraudulent sellers and buy a used car legally. Click below to download a free vehicle purchase agreement template.

Conclusion

It is crucial to have a written witness document at the time of purchase of the vehicle to avoid future misunderstanding or mayhem.

However, vehicle purchase agreements are mostly subject to both federal and state law. So, the parties need to verify that all the terms and conditions states are as per the law before signing the agreement.

If you would like to have your own version of agreement, you could create a free printable vehicle purchase agreement on CocoSign. We have an expert team to provide these templates as relevant and under the latest government guidelines.

DOCUMENT PREVIEW

Car Purchase Agreement

1. THE PARTIES TO THIS CAR PURCHASE AGREEMENT ARE:

1.1 THE SELLER:

First Name(s):

Surname:

I D Number:

Physical Address:

Postal address:

 

1.2 THE BUYER:

First Name(s):

Surname:

ID Number:

Physical Address:

Postal address:

 

The parties choose the above stated addresses as their physical addresses at which legal proceedings may be instituted.

2. THE OBJECT OF THE SALE IS:

2.1 Type of Vehicle:

2.2 Make and Color:

2.3 Model:

2.4 Year:

2.5 Registration Number:

2.6 Engine Number:

2.7 Vehicle Identification Number (VIN):

2.8 Odometer Reading:

3. OWNERSHIP:

3.1 The Seller guarantees that he/she is the true and lawful owner of the above-described vehicle and that it is free of all encumbrances and any and all legal claims.

4. WARRANTY:

4.1 The Seller warrants that at the date of signature of this agreement there are no licensing fees or fines or other penalties outstanding against the registration of the vehicle sold in terms of this agreement.

5. NO WARRANTIES OR GUARANTEES:

5.1 The Seller or his/her agent gives no warranty or guarantee other than those specified in 3.1 and 4.1

6. DISCLAIMER:

6.1 The vehicle is sold "As-Is" and the seller shall not be liable for any defects, patent, latent or otherwise.

6.2 The Buyer admits having inspected the vehicle to his/her satisfaction and that no guarantees or warranties of any nature were expressed or implied by the Seller or his/her agent regarding its condition or quality.

7. LEGAL AGE:

7.1 The Buyer is of legal age and legally competent to enter into this agreement.

8. TRANSFER OF OWNERSHIP AND COSTS:

8.1 The Parties agree to sign all documents necessary to transfer ownership of the vehicle from the Seller onto the name of the Buyer within 7 (SEVEN) days of signing this agreement of sale.

8.2 The Buyer shall be liable for all costs relating to the registration of the vehicle into his/her name and all costs relating Insurance.

9. PURCHASE PRICE:

9.1 The Purchase price is the sum of ______________________

(_in words_______________________________________________________)

9.2 The Purchase price is to be paid in full by bankers cheque or in a manner as agreed by both parties (specify) ___________________________________________

9.3 Ownership of the vehicle will only pass onto the Buyer once the bank honours the cheque or other legal instrument of payment.

9.4 The vehicle will only be delivered to the Buyer once payment has been received in full as per 9.3

10. POSSESSION AND TRANSFER OF RISK:

10.1 The Risk passes to the Buyer once the Buyer or his/her agent receives the keys to the car or takes possession of the vehicle.

11. JURISDICTION:

11.1 The parties consent to the jurisdiction of the magistrate's

(specify ________________________) court for the district of

__________________________________

12. HOLDING DEPOSIT: (IF APPLICABLE)

12.1 The Seller acknowledges that a holding deposit in the sum of _____________ was received on _____________20____.

12.2 The Buyer agrees that the balance of the Purchase price in the sum of ________________ must be paid by ______________20____.

12.3 The Parties agree that the Holding Deposit is non-refundable. They further agree that should the balance of the Purchase price not be paid by the date as in 12.2 above, the Buyer will have no further claims to the vehicle described in 2. and the Seller is relieved of all obligations in respect of this agreement.

 

Signed at ______________________on this ______day of _________________20____

SELLER: ______________________________

1. WITNESS____________________________

2. WITNESS ____________________________

BUYER: _______________________________

1. WITNESS____________________________

2. WITNESS ____________________________

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