Used Car Contract
Used Car Contract
This contract, designated as the Used Car Purchase Contract, also referred to as the ("Contract"), has been carried out and officially put into effect on the day stated herein, specifically [Date], which will be known for the purposes of this Contract as the ("Effective Date".) The parties involved in this Contract comprise two entities, on one side there is [Car Owner/Company Name], who will be commonly referred to under the term ("Seller") within the entirety of this Contract's clauses and provisions. On the other side, there is [Your name], who for the purpose of this Contract, will be referred to as the ("Buyer").
1. Vehicle Information:
The vehicle being sold under this Contract is described as follows:
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Make and Model: Toyota Camry
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Year: 2018
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Vehicle Identification Number (VIN): 1HGCM66557A079561
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Odometer Reading: 45,000 miles
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Color: Silver
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License Plate Number: XYZ1234
2. Payment Terms
The purchase price of the above vehicle is USD 12,500, payable as follows:
2.1 Down Payment: The Buyer agrees to make a down payment of USD 2,000 upon signing this Contract. The remaining balance of USD 10,500 shall be paid in full upon delivery of the vehicle.
2.2 Payment Method: The Buyer agrees to pay the down payment amount of USD 2,000 via certified check, money order, or bank transfer. The remaining balance of USD 10,500 shall be paid in cash or via cashier's check upon delivery of the vehicle.
3. As-Is Sale
The vehicle is sold “as is,” without any warranties, either expressed or implied, including but not limited to warranties of merchantability or fitness for a particular purpose, except as expressly stated in this Contract.
4. Possession and Title
Upon receiving full payment of the Purchase Price for the Vehicle, the Seller will transfer possession and title of the Vehicle to the Buyer. This complete transaction, which includes payment from the Buyer and transfer of vehicle possession and title from the Seller, must occur on or before the date specified, [Insert Date].
5. Representations and Warranties
The Seller represents and warrants that the Vehicle is free and clear of any liens or encumbrances, and that the Seller has full authority to sell the Vehicle. The seller further represents that the Vehicle is in a satisfactory operating condition.
6. Indemnification
The Buyer shall indemnify and hold the Seller harmless from any claims, costs, damages, or liabilities arising from the Vehicle’s use, possession, or ownership after the Contract's Effective Date.
7. Governing Law
This Contract will be governed by and construed by [Jurisdiction] laws, without regard to its conflict of laws provisions.
8. Entire Contract
This Contract constitutes the entire contract between the Parties and supersedes all prior oral or written contracts, understandings, or arrangements relating to the Vehicle.
9. Counterparts
This Contract may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute the same Contract.
IN WITNESS WHEREOF, the Parties have caused this Contract to be executed and effective as of the date first above written.
[Your Name]
[Date Signed]
[Car Owner/Company Name]
[Date Signed]
