Cars have always been costly, but they are necessary to have especially if you live in a place where there is no public transportation. Big sales on valuable assets such as cars, whether brand new or used, need some proper documentation for the buyer to obtain the proper title to obtain car insurance and register the car as the buyer’s property on transportation agencies. One important document that should be provided when a successful sale of a car is made is a sales contract. It states every factual detail about the buyer and seller, it describes the sold car and outlines how the transaction is agreed upon by both parties. This article will guide you on how to make a sales contract for a used car. Keep reading the article below.
4+ Used Car Sales Contract Samples
1. Used Car Sales Contract
2. Sample Used Car Sales Contract
3. Second Handed Car Sales Contract
4. Simple Used Car Sales Contract
5. Private Used Car Sales Contract
Things to Look Out for In Car Sales Contract
- Hidden fees: Be sure to request an itemized list of fees in your contract and be sure to ask about your dealer on fees you don’t understand. You can always opt to have these removed.
- Charging for free items: Always check for these add-ons on the list of fees and if it does not correspond to a $0 cost then it should be removed as well.
- Interest rate: This plays a significant role in how expensive your cost is going to be so make sure that what was agreed upon is reflected on the contract. Also, do your research on loan terms to know what’s best for you.
- Down payment: The cost of the down payment is going to determine what is left for you to pay during the rest of the financing period.
- Trade-in value: If you’re trading an old car for a new one, the trade-in value should match the terms agreed upon by both parties before signing a contract.
How to Make a Used Car Sales Contract
- Identify all parties: This includes the legal names of both buyer and seller along with the execution of the contract to sell the car. To strengthen identification, including the parties’ addresses and licenses as well.
- Description of vehicle: Provide an accurate description of the vehicle which includes its characteristics and its current condition. Understand that false information can deem the contract void.
- Price of the car: State the purchase price and the method of payment that is involved: cash, check, or the payment plan acquired by the buyer.
- Delivery method: Indicate the method of delivery either by shipping, pick-up, or third-party services and who should shoulder such expense.
- Warranty: Be thorough in describing the condition and should the buyer expect to make repairs on the said vehicle. Also, state conditions that would free the seller of the car any warranties.
- Title: Include the status of the title whether it is a clear title or should it have any existing loans and liens tied to it.
- Signature line: Sign and date the contract on the signature line. After that, make another copy for the other party.
Is a car sale contract legally binding?
Yes, just like any other contract, a car sale contract is legally binding as soon as both parties sign it.
Can you return a car after you bought it?
It all depends on car dealers whether they have rules or policies regarding the return of a vehicle after it has been bought. However, you need to plead your case and present a valid reason why you want to return it. Ask the car dealer first regarding this matter before you buy the car and then sign the contract.
Once you’re done writing the contract, make sure to review it first and check to see if there are any errors or wrong information being input. Discuss it first with your client and reach a mutual agreement with its content before signing it. To help you get started making the contract, download our free sample templates above to use as your guide!
FREE 7+ Sample Used Car Sale Contracts in MS Word PDF | Pages
FREE 9+ Sample Automobile Sales Contracts in Google Docs MS ...
FREE 8+ Car Sale Contract Samples in MS Word PDF | Pages
FREE 8+ Car Sales Contract Samples & Templates in PDF MS Word
FREE 11+ Sample Car Sales Contracts in MS Word PDF | Pages
FREE 8+ Automobile Sales Contract Samples Templates in PDF ...
FREE 9+ Car Selling Contract Samples [ Private, Used, Payment ]
FREE 10+ Vehicle Sales Contract Samples Templates in PDF ...
FREE 9+ Auto Sales Contract Templates in PDF
FREE 20+ Sample Sales Contracts in PDF MS Word | Google Docs ...
FREE 19+ Sales Contract Templates in MS Word PDF | Excel ...
FREE 12+ Sales Contract Templates in Google Docs MS Word ...
FREE 13+ Sample Sales Contracts in Google Docs MS Word ...
FREE 21+ Simple Sales Contract Samples & Templates in PDF ...
FREE 9+ Motor Vehicle Purchase Contract Samples [ Private ...