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Car Purchase Agreement Private Party
"I need a Car Purchase Agreement Private Party for selling my 2020 Toyota Camry in the Philippines, with payment to be made in 12 monthly installments starting March 2025, and I want to include a repossession clause if the buyer defaults on payments."
1. Parties: Identifies the Seller and Buyer with their complete legal names, addresses, and contact information
2. Background: Brief context explaining this is a private sale of a motor vehicle between the parties
3. Definitions: Defines key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Closing Date', etc.
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN/chassis number, engine number, plate number, and mileage
5. Purchase Price and Payment: States the agreed purchase price and payment terms, including method and timing of payment
6. Seller's Representations and Warranties: Seller's declarations regarding vehicle ownership, condition, absence of liens, and legal right to sell
7. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition 'as is'
8. Transfer of Title and Registration: Process and responsibilities for transferring vehicle ownership and registration
9. Closing and Delivery: Details of when and where the vehicle will be handed over
10. Governing Law: Specifies that Philippine law governs the agreement
11. Execution: Signature blocks for both parties and witnesses
1. Financing Terms: Include when buyer is paying in installments, detailing payment schedule and consequences of default
2. Security Interest: Include when seller retains security interest until full payment is received
3. Insurance Requirements: Include when there's a gap between purchase and registration transfer requiring specific insurance arrangements
4. Broker/Agent Details: Include if a third-party broker or agent is involved in the transaction
5. Dispute Resolution: Include detailed arbitration or mediation procedures if parties want to specify alternative dispute resolution
6. Post-Sale Maintenance Period: Include if seller agrees to provide any maintenance or repair support after sale
7. Trade-In Details: Include if another vehicle is being traded in as part of the purchase
1. Schedule A - Vehicle Inspection Report: Detailed report of vehicle condition, including photographs and notes on any existing damage or issues
2. Schedule B - Maintenance Records: History of vehicle maintenance and repairs
3. Schedule C - Vehicle Documents: List of all documents being transferred (registration, insurance, maintenance manual, etc.)
4. Schedule D - Payment Schedule: If applicable, detailed schedule of installment payments
5. Appendix 1 - Vehicle Photographs: Date-stamped photographs of vehicle exterior, interior, and any damage or notable features
6. Appendix 2 - LTO Requirements Checklist: Checklist of documents required by Land Transportation Office for transfer of registration
Authors
Automotive
Transportation
Private Sales
Vehicle Dealership
Insurance
Legal Services
Financial Services
Vehicle Registration Services
Vehicle Inspection Services
Legal
Compliance
Administrative Services
Document Management
Property Management
Fleet Management
Transaction Processing
Risk Management
Customer Service
Private Seller
Private Buyer
Legal Counsel
Paralegal
Insurance Agent
Vehicle Registration Officer
Bank Loan Officer
Automotive Inspector
Notary Public
Document Controller
Compliance Officer
Administrative Assistant
Property Manager
Fleet Manager
Transaction Coordinator
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