The car sale agreement is a legally binding agreement also defined as a bill of sale for car. This bill of sale records the transaction involving a vehicle.
What is a Car Sale Agreement?
A Car Sale Agreement is also known as a Vehicle Bill of Sale and is used to document and record the transaction that takes place between the Seller and the Buyer for the Car. It is used to fully disclose and inform both parties about the description of the car to be sold including its model, color, manufacturer and condition. It states all the terms and conditions under which the transaction is made.
Vehicle Bill of Sale Agreement Template and Sample Preview
Car Sale Agreement Template (for all States)
This Car Sale Agreement (the “Agreement”) is entered into by and between the Buyer [Buyer.FirstName] [Buyer.LastName] and the Seller [Seller.FirstName] [Seller.LastName]. This agreement represents contractual agreements made by both parties and The Seller (the “Seller”) who lives at [SellerAddress] hereby wishes to sell their Vehicle to the Buyer (the “Buyer”) who lives at [BuyerAddress].
WHEREAS: The Seller is the legal owner of the Vehicle.
WHEREAS: The Seller wishes to sell his Vehicle to the Buyer on the following terms and agreements mentioned herein and the Buyer wishes to purchase the Vehicle from the Seller.
1.1 “Vehicle” and “Car” refer to the vehicle that the seller is selling to the buyer.
1.2 “Parties” herein refers to the Buyer and Seller collectively.
1.3 “Price” herein refers to the total sum to be paid for the purchase of the Vehicle.
1.4 “Payment Method” herein refers to the method of payment agreed upon by both Parties.
1.5 The headings used in this Agreement are only used for the purpose of reference and do not have any meaning or interpretation attached to them.
1.6 This Agreement may be executed in either English or other languages. However, in case of any dispute or doubt pertaining to this agreement the English translation and meaning of this Agreement will hold privilege over any other translations or meanings.
1.7 If a term and condition or clause laid out herein are deemed illegal, invalid or unenforceable by a competent jurisdiction only that particular term, condition or clause will be rendered ineffective and the other contractual agreements stated herein will remain in full force.
1.8 This Agreement may be executed in more than one counterparts and both parts are to be held equally valid and enforceable.
- OBLIGATIONS OF THE SELLER
The seller has hereby acknowledged that:
2.1 all the information provided by it is fully accurate to the best of its knowledge.
2.2 The Seller Is not a member of any car buying or selling neither car advertising group.
2.3 The Seller warrants that he is the legal owner of the car assigned herein and the car is not stolen property or pertains to any other history that may have led to unfair possession of the car through unreasonable means.
2.4 The seller has All the rights pertaining to the selling of this car and consent or agreement from a third-party is not required to fully transfer the ownership to the Buyer.
2.5 There is no debt or liability pertaining to the car nor any remaining balance to be paid on the car financing.
2.7 The seller has fully disclosed all the faults within the car according to the best of his knowledge and no information regarding any faults or damages has been omitted deliberately.
2.8 All if any spare keys are to be transferred under the buyer’s possession along with the service manual.
2.9 The seller will conduct all the required paperwork for the complete transfer of ownership to the buyer. Moreover, any other applicable paperwork and documentation regarding the transfer of ownership and ownership of the car will be provided by the seller.
2.10 After the necessary transactions take place and the buyer has paid the full amount for the car the seller is obligated to immediately transfer possession of the car to the Buyer.
2.11 The seller will not be held accountable or liable for the faults that take place under the ownership of the buyer or for any reasonable wear and tear of the car unless a guarantee was provided by the Seller. However, the seller will be held liable for any uncovered defects that were willingly omitted from disclosure by the seller.
2.12 The seller has not granted any guarantee to the buyer.
- OBLIGATIONS OF THE BUYER
The buyer has hereby acknowledged that:
3.1 The Buyer will pay the full price as agreed upon herein.
3.2 The Buyer warrants that all the information provided by the seller is true.
3.3 Payment for the car will be made in compliance with the contractual terms agreed upon herein.
3.4 The Buyer warrants that he has been fully informed about the history of the car such as accidents, current faults, etc.
3.5 The Buyer is obligated to pay for the full price of the car as agreed between the buyer and seller herein.
3.6 The buyer has been forwarded all the applicable paperwork and documentation regarding the ownership of the car following payment.
3.7 The buyer has examined the car in person at the Seller’s residential address and agrees to purchase the car in its current state as seen during the investigation and examination.
3.8 The buyer warrants that he fully acknowledges that it is a second-hand car that he is purchasing as an “as seen” vehicle and accepts the car in its current condition and assumes all the responsibility for the car’s condition unless any information about the current faults was deliberately omitted by the Seller.
- PAYMENT OF THE VEHICLE
In case any other less formal promises or statements were made by either party this Agreement will hold privilege over any other statements or discussions done outside this agreement.
In case a need for amendments, modifications or adjustments to this Agreement arises, they are to be made in written form and require the agreement and signature of both Parties.
- GOVERNING LAW, DISPUTES AND ARBITRATION
It is hereby agreed that:
7.1 This Car Sale Agreement is under the governance of the jurisdiction of the laws of the state [STATE].
7.2 In case a dispute or conflict arises regarding this Car Sale agreement both parties are under the obligation to resolve it by submitting to a competent court of the state [STATE].
- VEHICLE DETAILS
The seller agrees to transfer full ownership to the buyer immediately after full payment is made by the Buyer for the car mentioned below:
Type of Vehicle: _______________________________
Make and Model of Vehicle: ______________________
Vehicle Registration Number: _____________________
Year of Vehicle: ________________________________
Colour of Vehicle: ______________________________
Vehicle Identification Number (VIN): ________________
Total Vehicle Mileage: ___________________________
Engine Number (optional): ________________________
Agreed Vehicle Sale Price: _______________________
By signing and dating this agreement below the seller accepts that he has received the full payment of amount ___________ from the Buyer for the purchase of the car.
9.1 Seller Section:
I accept to pay the full and final payment of £___________ to the Seller for the purchase of the Vehicle in the manner set out in the Agreement.
By signing and dating this agreement below the buyer accepts to make the full payment of ___________ to the Seller of the car.
9.2 Buyer Section: