Car Rental Sales Contract
Car Rental Sales Contract
This Car Rental Sales Contract ("Contract") is made and entered into as of this [Date] by and between [Your Company Name], located at [Your Company Address], City of [City], State of [State], ZIP Code [ZIP Code], contact number [Your Company Number], and email [Your Company Email] (hereinafter referred to as the "Seller"), and [Buyer's Name], located at [Buyer's Address], City of [City], State of [State], ZIP Code [ZIP Code], contact number [Buyer's Number], and email [Buyer's Email] (hereinafter referred to as the "Buyer").
WHEREAS, the Seller is engaged in the business of renting and selling vehicles; and
WHEREAS, the Buyer desires to purchase a vehicle from the Seller under the terms and conditions set forth herein; and
WHEREAS, the Seller agrees to sell and the Buyer agrees to purchase the vehicle described below, subject to the terms and conditions of this Contract;
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows:
1. Sale of Vehicle
1.1 The Seller agrees to sell, transfer, and deliver to the Buyer, and the Buyer agrees to purchase from the Seller, the following vehicle (hereinafter referred to as the "Vehicle"):
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Make: [Vehicle Make]
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Model: [Vehicle Model]
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Year: [Vehicle Year]
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Vehicle Identification Number (VIN): [VIN]
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Color: [Vehicle Color]
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Mileage: [Current Mileage]
1.2 The Vehicle is sold "AS IS," and the Seller disclaims all warranties, whether express or implied, including any implied warranties of merchantability or fitness for a particular purpose. The Buyer acknowledges that they have had the opportunity to inspect the Vehicle and accepts it in its current condition.
1.3 The Seller warrants that it has full right and authority to sell the Vehicle and that the Vehicle is free from all liens, encumbrances, and other claims. The Seller further warrants that the Vehicle has not been involved in any major accidents and has no known mechanical defects that would impair its functionality.
2. Purchase Price
2.1 The total purchase price for the Vehicle is [Total Purchase Price] USD.
2.2 The Buyer shall pay the purchase price as follows:
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A deposit of [Deposit Amount] USD is due upon the signing of this Contract.
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The remaining balance of [Balance Amount] USD shall be paid on or before the delivery date of the Vehicle.
2.3 Payment shall be made by [Payment Method], payable to the Seller. Acceptable payment methods include cash, certified check, bank transfer, or any other method agreed upon by both parties in writing.
3. Delivery of Vehicle
3.1 The Seller shall deliver the Vehicle to the Buyer at [Delivery Location] on or before [Delivery Date].
3.2 The risk of loss or damage to the Vehicle shall pass to the Buyer upon delivery. The Seller agrees to take all necessary precautions to ensure the safe delivery of the Vehicle until the point of transfer.
3.3 The Buyer is responsible for all costs associated with the delivery, including but not limited to transportation, taxes, and registration fees. The Seller shall provide the Buyer with a detailed list of any additional costs prior to delivery.
4. Title and Registration
4.1 Upon receipt of full payment, the Seller shall provide the Buyer with the Vehicle's title and any other necessary documents to transfer ownership. This includes a bill of sale, any warranty documents (if applicable), and a current registration certificate.
4.2 The Buyer is responsible for registering the Vehicle in their name and for any associated fees. The Seller agrees to assist the Buyer with the registration process if necessary, including providing any additional documentation required by the local Department of Motor Vehicles (DMV).
5. Representations and Warranties
5.1 The Seller represents and warrants that:
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The Seller has good and marketable title to the Vehicle.
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The Vehicle is free from all liens, encumbrances, and security interests.
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The Vehicle has not been involved in any major accidents and has no known mechanical defects that would impair its functionality.
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The Vehicle has passed any required emissions tests and inspections.
5.2 The Buyer acknowledges that they have inspected the Vehicle and accepts it in its current condition. The Buyer further acknowledges that the Seller has provided all known information about the Vehicle’s condition and history.
6. Default
6.1 If the Buyer fails to make any payment when due, the Seller may retain the deposit as liquidated damages and may pursue any additional remedies available under law. The Seller may also terminate this Contract and seek reimbursement for any costs incurred due to the Buyer's default.
6.2 If the Seller fails to deliver the Vehicle as agreed, the Buyer may terminate this Contract and receive a full refund of any payments made. The Buyer may also seek additional damages or specific performance if the Seller’s failure to deliver was in bad faith.
7. Governing Law
This Contract shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles. Any disputes arising under or related to this Contract shall be subject to the jurisdiction of the courts in [City, State].
8. Dispute Resolution
8.1 Any disputes arising out of or in connection with this Contract shall be resolved through good faith negotiations between the parties. Both parties agree to attempt to resolve any disputes amicably and expeditiously.
8.2 If the parties are unable to resolve the dispute through negotiation, the dispute shall be submitted to mediation in [City, State]. The parties agree to select a mediator mutually acceptable to both parties and to participate in the mediation process in good faith.
8.3 If mediation fails, the dispute shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association. The decision of the arbitrator shall be final and binding on both parties, and judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
9. Entire Agreement
This Contract constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements, whether written or oral, between the parties with respect to its subject matter. Any amendments or modifications to this Contract must be in writing and signed by both parties.
10. Amendments
No amendment, modification, or waiver of any provision of this Contract shall be effective unless in writing and signed by both parties. Any such amendment, modification, or waiver shall be binding on the parties and their respective successors and assigns.
11. Severability
If any provision of this Contract is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced to the fullest extent under law. The parties agree to negotiate in good faith to replace any invalid or unenforceable provision with a valid and enforceable provision that achieves the original intent of the parties.
12. Notices
All notices required or permitted under this Contract shall be in writing and shall be deemed delivered when delivered in person, sent by facsimile, sent by certified mail, return receipt requested, or delivered by a nationally recognized overnight delivery service to the addresses set forth above. Notices sent by certified mail or overnight delivery service shall be deemed delivered upon receipt.
13. Counterparts
This Contract may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. Faxed or electronically transmitted signatures shall be deemed valid and binding for all purposes.
14. Assignment
The Buyer may not assign or transfer their rights or obligations under this Contract without the prior written consent of the Seller. Any attempted assignment or transfer in violation of this provision shall be null and void.
15. Force Majeure
Neither party shall be liable for any failure to perform any obligation under this Contract due to events beyond their control, including but not limited to acts of God, war, natural disasters, strikes, and governmental actions. The affected party shall notify the other party as soon as practicable of any event of force majeure and shall use reasonable efforts to resume performance as soon as possible.
16. Headings
The headings in this Contract are for reference purposes only and shall not affect the interpretation of this Contract. The use of headings is solely for the convenience of the parties and shall not be used to interpret or construe any provision of this Contract.
17. Confidentiality
17.1 Both parties agree to keep confidential and not to disclose to any third party any confidential or proprietary information disclosed by the other party in connection with this Contract. This obligation of confidentiality shall survive the termination or expiration of this Contract.
17.2 Confidential information shall not include information that is publicly known or becomes publicly known through no fault of the receiving party, is disclosed to the receiving party by a third party without breach of any confidentiality obligation, or is independently developed by the receiving party without use of or reference to the disclosing party’s confidential information.
18. Indemnification
18.1 The Buyer agrees to indemnify, defend, and hold harmless the Seller from and against any and all claims, liabilities, damages, losses, and expenses, including reasonable attorneys’ fees, arising out of or in any way connected with the Buyer’s use or ownership of the Vehicle.
18.2 The Seller agrees to indemnify, defend, and hold harmless the Buyer from and against any and all claims, liabilities, damages, losses, and expenses, including reasonable attorneys’ fees, arising out of or in any way connected with any breach of the Seller’s representations and warranties under this Contract.
19. Waiver
The failure of either party to enforce any provision of this Contract shall not be construed as a waiver or limitation of that party’s right to subsequently enforce and compel strict compliance with every provision of this Contract. Any waiver of a provision of this Contract must be in writing and signed by the party granting the waiver.
20. Further Assurances
Each party agrees to execute and deliver such further documents and take such further actions as may be reasonably necessary to carry out the intent and purposes of this Contract.
21. Survival
The provisions of this Contract that by their nature are intended to survive the termination or expiration of this Contract, including but not limited to provisions regarding confidentiality, indemnification, and governing law, shall survive the termination or expiration of this Contract.
22. Representation by Counsel
Each party acknowledges that it has had the opportunity to consult with legal counsel of its choice regarding this Contract and that it has either done so or voluntarily chosen not to do so. Each party further acknowledges that it has read and understood this Contract and agrees to be bound by its terms and conditions.
23. Binding Effect
This Contract shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs, and legal representatives.
24. Third-Party Beneficiaries
This Contract is intended for the sole benefit of the parties hereto and their respective successors and assigns, and nothing herein is intended to or shall confer upon any other person or entity any legal or equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Contract.
25. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Car Rental Sales Contract as of the day and year first above written.
Seller:
[Your Name]
[Your Position]
[Your Company Name]
Buyer:
[Buyer's Name]
