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Contract For Vehicle Sale With Payments
"I need a Contract For Vehicle Sale With Payments for my dealership in Mumbai to sell a new Toyota Fortuner with a 24-month payment plan, including extended warranty and maintenance package, with the first delivery scheduled for March 2025."
1. Parties: Identification of seller and buyer with complete details including names, addresses, and ID proofs
2. Background: Brief context about the transaction and the parties' intention to enter into the vehicle sale agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, VIN, registration number, and current condition
5. Purchase Price and Payment Terms: Total purchase price, payment schedule, installment amounts, and payment methods
6. Transfer of Title and Ownership: Terms and process for transferring vehicle ownership upon completion of payments
7. Delivery and Possession: Terms regarding vehicle delivery, temporary possession during payment period, and final possession transfer
8. Seller's Representations: Seller's declarations regarding vehicle ownership, condition, and absence of encumbrances
9. Buyer's Obligations: Buyer's responsibilities including maintenance, insurance, and usage restrictions during payment period
10. Default and Remedies: Consequences of payment default and available remedies for both parties
11. Insurance Requirements: Mandatory insurance coverage requirements during the payment period
12. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
13. Execution: Signature blocks and execution formalities
1. Dealer Warranty: Additional warranties provided by dealer beyond statutory warranties, used when seller is a dealership
2. Third-Party Financing: Terms related to external financing arrangements, included when a bank or financial institution is involved
3. Co-signer Details: Terms and obligations of a co-signer, included when buyer requires a guarantor
4. Trade-in Terms: Details of any vehicle trade-in arrangement, included when part of purchase consideration is paid through vehicle exchange
5. Early Payment Provisions: Terms for early payment of the full amount, including any applicable discounts
6. Registration Transfer Assistance: Terms regarding seller's assistance in registration transfer, included when such service is offered
7. Maintenance Agreement: Terms of any included maintenance or service package, used primarily in dealer sales
1. Schedule A - Vehicle Specification: Detailed technical specifications, features, and accessories of the vehicle
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments with due dates
3. Schedule C - Vehicle Inspection Report: Comprehensive inspection report noting current condition and any existing damage
4. Schedule D - Documents List: List of all documents transferred with vehicle (registration, insurance, service history, etc.)
5. Appendix 1 - Vehicle Photographs: Dated photographs of vehicle showing condition at time of sale
6. Appendix 2 - Handover Checklist: List of items to be checked and confirmed during vehicle handover
Authors
Automotive
Transportation
Retail
Financial Services
Insurance
Fleet Management
Logistics
Car Rental
Automotive Leasing
Vehicle Distribution
Legal
Sales
Finance
Compliance
Operations
Risk Management
Collections
Customer Service
Documentation
Business Development
Sales Manager
Finance Manager
Legal Counsel
Automotive Dealer
Fleet Manager
Commercial Director
Compliance Officer
Contract Administrator
Business Development Manager
Vehicle Finance Specialist
Documentation Officer
Risk Manager
Collections Manager
Customer Service Manager
Operations Manager
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