When it comes to buying or selling a car, a written agreement is always recommended to protect both parties involved. A car selling agreement is a legally binding document that outlines the terms and conditions of the sale.
It is crucial to have a sample agreement that you can use as a reference when drafting your own. In this article, we will provide you with a sample of a car selling agreement that can be used as a guide.
Car Selling Agreement
This agreement is made and entered into on (date) by (seller’s name) with an address of (seller’s address) and (buyer’s name) with an address of (buyer`s address).
The seller agrees to sell and transfer ownership of the following vehicle to the buyer:
The buyer agrees to purchase the above-described vehicle for the sum of (sale price) and to pay the seller in cash or by (payment method agreed upon).
Both parties agree that the vehicle is being sold in “as-is” condition. The seller makes no warranties or guarantees in connection with the sale of the vehicle and assumes no responsibility for any repairs or defects.
The buyer agrees to inspect the vehicle thoroughly before completing the purchase and acknowledges that they have had the opportunity to do so. The buyer also acknowledges that they are purchasing the vehicle based on their own judgment and not in reliance on any representation made by the seller.
The seller will transfer the title of the vehicle to the buyer on the date of sale. The seller warrants that they are the lawful owner of the vehicle and have the right to sell it. The seller will provide the buyer with all necessary documentation, including the title, bill of sale, and any other documents that may be required by law.
Both parties agree to execute all necessary documents to complete the sale, including the transfer of ownership of the vehicle.
This agreement contains the entire understanding between the parties and supersedes all prior negotiations, understandings, and agreements between the parties.
In case of any disputes arising out of this agreement, the parties agree to settle the matter through arbitration in accordance with (arbitration process).
Both parties acknowledge that they have read and understood this agreement, and agree to be bound by its terms and conditions.
(Seller`s signature) (Buyer`s signature)
(Seller`s printed name) (Buyer`s printed name)
In conclusion, a sample car selling agreement is necessary to ensure a smooth and successful transaction between the buyer and seller. It`s imperative to read and understand all the terms and conditions included in the agreement before signing it to avoid any possible disputes in the future. Remember, it`s always better to be safe than sorry.