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Second Hand Car Sale Agreement
"I need a Second Hand Car Sale Agreement for selling my 2020 Toyota Fortuner to a private buyer in Manila, with a planned completion date of March 15, 2025, including provisions for a 30% down payment and 6 monthly installments for the balance."
1. Parties: Identification of the Seller and Buyer with complete names, addresses, and contact details as required by Philippine regulations
2. Background: Brief context of the sale and confirmation of the Seller's ownership and right to sell the vehicle
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, plate number, and mileage
5. Purchase Price and Payment: Agreed purchase price, payment terms, and method of payment
6. Seller's Representations and Warranties: Seller's declarations regarding vehicle condition, ownership, and absence of liens or encumbrances
7. Vehicle Condition and Inspection: Detailed description of the vehicle's current condition and acknowledgment of buyer's inspection
8. Transfer of Ownership: Process and obligations for transferring vehicle registration and other necessary documentation
9. Responsibilities for Transfer Costs: Allocation of costs related to the transfer, including taxes and registration fees
10. Completion of Sale: Requirements and process for completing the sale and transfer of possession
11. Governing Law: Specification that the agreement is governed by Philippine law
12. Signing: Execution clause and space for signatures, witnesses, and notarization
1. Financing Terms: Include when the purchase involves installment payments or financing arrangements
2. Insurance: Include when addressing transfer or requirement of insurance coverage
3. Security Interest: Include when there's a lien or security interest being retained pending full payment
4. Trade-in Vehicle: Include when part of the transaction involves a trade-in vehicle
5. Dispute Resolution: Include when parties want to specify mediation or arbitration procedures
6. Post-Sale Services: Include when seller is providing additional services or warranties beyond the sale
7. Return Policy: Include when there's a specific agreement about potential return conditions
1. Schedule A - Vehicle Inspection Report: Detailed technical inspection report of the vehicle's condition
2. Schedule B - Vehicle History: Documentation of vehicle's maintenance history, previous accidents, and repairs
3. Schedule C - Vehicle Documents: List of all documents being transferred with the vehicle
4. Schedule D - Payment Schedule: If applicable, detailed schedule of installment payments
5. Schedule E - Photographs: Dated photographs showing the condition of the vehicle at time of sale
6. Appendix 1 - LTO Requirements: Checklist of requirements for LTO transfer of registration
7. Appendix 2 - Warranty Terms: If applicable, detailed terms of any warranties provided
Authors
Automotive
Retail
Financial Services
Insurance
Transportation
Legal Services
Consumer Goods
Legal
Sales
Compliance
Finance
Operations
Administrative
Customer Service
Risk Management
Documentation
Dealership Operations
Car Dealer
Sales Manager
Legal Counsel
Compliance Officer
Business Owner
Finance Manager
Administrative Officer
Sales Executive
Automotive Consultant
Documentation Specialist
Contract Administrator
Risk Manager
Operations Manager
Customer Service Representative
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