Who needs Sample Auto Sales Agreement (With Seller Financing)?
The completion of the given sales agreement is an important step in recording the transfer of the used automobile from one party (the Seller) to another (the Buyer). Therefore, the Seller and the Buyer are the persons who conclude and need this form.
What is the purpose of the Sample Car Sales Agreement form?
The Sample Auto Sales Agreement (With Seller Financing) is an important document as it legally confirms the transaction and bounds the parties in their rights and obligations as related to the vehicle transaction.
When is the Auto Sales Agreement due?
The Vehicle Sales Agreement is to be completed at the moment of the transaction and does not have a strict deadline for submission. According to the general recommendation, the car sales contract should be retained for at least one year after the date of the transaction.
Is the Sample Auto Sales Agreement (With Seller Financing) accompanied by any other documents?
Typically, the agreement as such does not require attaching any additional documents. Yet, if the buyer finds it appropriate to request any disclosures or inspection reports, it may be done. Also, the title of the vehicle is to be conveyed by the Seller to the Buyer upon the delivery of the car.
How to fill out the Vehicle Sales Agreement?
The following data must be indicated on the Car Sales Agreement form:
- The date of the transaction;
- The names of the parties (Seller and Buyer);
- Description of the acquired vehicle;
- Price of the purchase;
- Seller financing of purchase price;
- Details of the delivery of the acquired vehicle;
- Conditions of the vehicle title conveyance;
- Representations, warranties, disclosures.
Finally, the parties must date the form and sign off in front of a witness, who typically is a notary public.
Where to send the Sales Agreement form?
The Vehicle Sales Agreement must be filed in two original copies and be retained by both the Seller and Buyer.