A vehicle purchase contract is prepared when an individual is selling his vehicle to another individual. The contract includes details of the vehicle and all the other terms and conditions agreed by both the parties.
Sample Vehicle Purchase Contract:
This vehicle purchase contract has been made on this day of 18th November, 2010 between Ron Howard, the Buyer and Harry Potter, the Seller. The details of the vehicle are mentioned below:
- Year of manufacture: 10th October, 2007
- Name of the manufacturing company: Ford
- Name of model: Jaguar ELX
- Color of the vehicle: Red
- Total miles already travelled: 12564789 miles
- Registration number: NY 4125
- Maximum speed: 180 miles per hour
The contract has been prepared as per the Motor vehicles Act of the state of New Jersey.
The buyer has to agree to the following terms and conditions:
- The total price of the car is $10000 out of which the Buyer has to pay an amount of $5000 as down payment and can pay the rest of the amount in four monthly installments. The installments need to be paid at the beginning of every month. In case there is any default in paying the installments, the Seller can again have the possession of the car.
- After the Buyer takes the possession of the vehicle, the motor vehicle expenses will be borne by him.
- The buyer has the authority to check whether the vehicle has any damages.
As evidence that both the parties have agreed to the terms, they need to put their signature below:
Harry Potter Ron Howard
Dated: 19th November, 2010 Dated: 19th November, 2010