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New Car Purchase Agreement

New Car Purchase Agreement Template for India

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Key Requirements PROMPT example:

New Car Purchase Agreement

"I need a New Car Purchase Agreement for a luxury vehicle sale in Mumbai, India, with a trade-in option for the buyer's existing vehicle and a special provision for installment payments over 24 months starting March 2025."

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Document background
The New Car Purchase Agreement is a fundamental document used in India's automotive industry to formalize the sale of new vehicles. This agreement is essential when a buyer intends to purchase a new vehicle from an authorized dealer or showroom, ensuring compliance with the Motor Vehicles Act, 1988, and other relevant Indian legislation. The document covers crucial aspects including vehicle specifications, pricing, payment terms, warranties, delivery conditions, and after-sale services. It protects both the seller's and buyer's interests by clearly defining their rights and obligations, while also meeting regulatory requirements for vehicle registration and transfer of ownership. The agreement is particularly important as it serves as evidence of the transaction and the terms agreed upon, which may be necessary for registration, insurance, and financing purposes.
Suggested Sections

1. Parties: Identification of the seller (dealership) and buyer with complete details including names, addresses, and registration/identification numbers

2. Background: Brief context of the transaction and the parties' intentions to enter into a vehicle purchase agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, and other identifying characteristics

5. Purchase Price: Total purchase price, payment terms, and breakdown of costs including taxes and registration fees

6. Payment Terms: Details of payment method, installments if any, and payment schedule

7. Delivery: Terms and conditions for vehicle delivery, including timing and location

8. Warranties and Representations: Manufacturer's warranty details and seller's representations about the vehicle's condition

9. Registration and Transfer: Obligations regarding vehicle registration and transfer of ownership

10. Insurance: Requirements for vehicle insurance and responsibility for arranging coverage

11. Termination: Circumstances under which the agreement can be terminated and consequences

12. Governing Law: Specification of Indian law as governing law and jurisdiction details

13. Dispute Resolution: Process for resolving any disputes arising from the agreement

Optional Sections

1. Trade-In Vehicle: Details of any vehicle being traded in as part of the purchase, including valuation and condition assessment

2. Financing Terms: If financing is arranged through the dealer, detailed terms of the financing arrangement

3. Extended Warranty: Terms of any extended warranty or additional service packages purchased

4. Accessories and Modifications: Details of any additional accessories or modifications to be installed post-purchase

5. Sales Promotions: Details of any applicable promotional offers or special discounts

6. Force Majeure: Provisions for unforeseen circumstances affecting delivery or performance

7. Assignment: Terms regarding the ability to assign rights under the agreement to third parties

Suggested Schedules

1. Schedule A - Vehicle Specification: Detailed technical specifications of the vehicle including engine, transmission, features, and accessories

2. Schedule B - Payment Schedule: Detailed breakdown of payments including due dates and amounts if paid in installments

3. Schedule C - Warranty Terms: Complete warranty terms and conditions from manufacturer

4. Schedule D - Delivery Checklist: Checklist of items to be verified during vehicle delivery

5. Schedule E - Pre-Delivery Inspection Report: Detailed inspection report of the vehicle before delivery

6. Appendix 1 - Required Documentation: List of all required documents for registration and transfer

7. Appendix 2 - Insurance Details: Insurance requirements and recommended coverage details

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































Clauses

































Relevant Industries

Automotive

Retail

Financial Services

Insurance

Manufacturing

Consumer Goods

Relevant Teams

Legal

Sales

Finance

Compliance

Operations

Customer Service

Documentation

Risk Management

Business Development

Relevant Roles

Sales Manager

Automotive Sales Executive

Legal Counsel

Compliance Officer

Finance Manager

Dealership Manager

Contract Administrator

Customer Service Manager

Vehicle Documentation Specialist

Sales Operations Manager

Business Development Manager

Risk Management Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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