Free Car Selling Contract

This Vehicle Sales Contract ("Contract") is made and entered into on [DATE], between [SELLER'S NAME], located at [SELLER'S ADDRESS] ("Seller"), and [BUYER'S NAME], located at [BUYER'S ADDRESS] ("Buyer").

I. Vehicle Details

The Seller agrees to sell and the Buyer agrees to purchase the following vehicle:

II. Cost of acquisition

The total purchase price for the vehicle, as agreed upon between the Seller and the Buyer, is set at [PURCHASE PRICE] ([PURCHASE PRICE IN WORDS]), payable in [CURRENCY]. This amount, constituting the full consideration for the transfer of ownership of the vehicle, shall hereinafter be referred to as the 'Purchase Price.' The Parties affirm that this Purchase Price reflects the fair market value of the vehicle, taking into account its condition, specifications, and any additional accessories or features included in the sale agreement. The Seller and the Buyer both acknowledge and agree to the accuracy and completeness of the Purchase Price as stated herein.

III. Payment

The Buyer agrees to remit the full Purchase Price to the Seller upon execution of this Contract unless an alternative payment arrangement has been mutually agreed upon in writing. The Purchase Price shall be paid in [CURRENCY] through [SPECIFIED PAYMENT METHOD, E.G., WIRE TRANSFER, CASHIER'S CHECK].

In the event of late payment, the Buyer shall be subject to [SPECIFIED PENALTY, E.G., LATE FEES, INTEREST CHARGES] as agreed upon by both parties. Should any disputes arise regarding payment, both parties agree to attempt to resolve them through negotiation and mediation before pursuing further legal action.

All payment-related documentation, including receipts and invoices, shall be promptly provided by the Seller upon receipt of payment.

This payment clause is in compliance with the laws and regulations governing contracts and sales transactions in [JURISDICTION].

IV. Transfer of Ownership and Delivery

1. Title Transfer: Upon receipt of the full Purchase Price as specified in Section II (Purchase Price), the Seller agrees to promptly transfer title and deliver possession of the vehicle to the Buyer.

2. Documents Required: The Seller is obligated to supply the Buyer with all essential documents required for the title transfer, not limited to the original vehicle title duly endorsed by the Seller to the Buyer, a bill of sale that details the transaction, including but not limited to the purchase price, VIN, the make, model and year of the vehicle, including the names and signatures of both parties and any other legally or regulatory required documents for the transfer of the vehicle's ownership, such as emission certificates, odometer disclosures or lien release documents.

3. Delivery Location: Delivery of the car shall occur at the location specified below, unless otherwise agreed upon in writing by both parties:

   [DELIVERY LOCATION]: [SPECIFY THE EXACT LOCATION FOR VEHICLE DELIVERY, E.G., SELLER'S PREMISES, BUYER'S RESIDENCE, ETC.]

4. Condition of Vehicle: The Seller guarantees that upon delivery, the vehicle will be in the condition outlined in Section III (Vehicle Description and Condition), allowing for normal wear and tear.

5. Delivery Date: The Seller and Buyer will decide on a mutually agreeable date and time to deliver the vehicle. In the absence of an agreed specific date, the Seller is obligated to deliver the vehicle within [NUMBER] days after receiving the full Purchase Price.

6. Inspection and Acceptance: Once the vehicle is delivered, the Buyer will be given the chance to check if the vehicle matches the details detailed in Section III (Vehicle Description and Condition). The Buyer has [NUMBER] days post-delivery to inform the Seller about any faults or inconsistencies found during the examination.

7. Risk of Loss: Upon delivery of the vehicle to the agreed-upon location or to the Buyer's designated representative, the Seller will transfer the responsibility for any potential loss or damage to the vehicle to the Buyer.

V. Condition of the Vehicle

1. Buyer's Acknowledgment: The buyer confirms that they have comprehensively examined the vehicle and agree to purchase it "as is". By signing this agreement, the buyer is aware and consents to buy the vehicle in its present state, inclusive of any defects or flaws, with no warranties, implied or expressed, unless otherwise specified in this agreement.

2. Seller's Disclaimer: The seller provides no guarantees, stated or inferred, about the vehicle's state, salability, or suitability for a specific use. The buyer accepts that the vehicle is for sale in its present condition, and the seller categorically denies any type of guarantee, be it legal, overt, or inferred, including but not limited to warranties related to saleability or suitability for a certain use.

3. Descriptions and Representations: The purchaser acknowledges that the seller's descriptions or claims about the vehicle, be they in writing or spoken, are simply general information and not guarantees. The purchaser affirms that their choice to buy is not based on these representations, but instead on their own independent research and prudent examination.

4. Exclusion of Implied Warranties: To the greatest extent permitted by law, the seller negates and dismisses all implicit guarantees, including those of merchantability and suitability for a particular use.

5. Limitation of Liability: The Seller bears no liability towards the Buyer or any third parties for any direct or indirect damages resulting from the sale or usage of the vehicle, whatever the legal grounds - be it contract, tort, strict liability, or otherwise - even if the possibility of such damages has been highlighted.

VI. Reimbursement

1. Duty to compensate for loss or damage

The Buyer accepts the responsibility to protect, argue for, and exonerate the Seller, its officials, executives, employees, agents, successors, and assigns (also known as the "Indemnified Parties") against any demands, losses, responsibilities, expenses, and costs (which include reasonable lawyer's fees and costs) that may occur due to: the use or possession of the vehicle by the Buyer, or anyone else to whom the Buyer hands over the ownership or possession of the vehicle; any action, oversight, or carelessness by the Buyer or anyone else concerning the vehicle, including accidents, crashes, or breaking of traffic laws; or if the Buyer breaks any part of this agreement.

2. Range of compensation for loss.

This indemnification encompasses, yet is not confined to, assertions of Personal injury or death resulting from the Buyer's operation of the vehicle, comprising injuries incurred by the Buyer, passengers, or third parties. Damage to property resulting from the Buyer's handling of the vehicle, inclusive of damage to the vehicle itself, other vehicles, or third-party property. Breach of any laws, regulations, or ordinances by the Buyer while utilizing the vehicle, not excluding traffic violations, environmental regulations, or consumer protection laws.

3. Protection and Repayment

Upon the Seller's request, the Buyer agrees to defend the Indemnified Parties against any claims covered by this indemnification and to reimburse the Indemnified Parties for any expenses incurred in connection with the defense of such claims, including attorneys' fees, court costs, and expert witness fees.

4. Awareness and Collaboration

The Seller shall promptly notify the Buyer in writing of any claims subject to indemnification under this agreement. The Buyer shall have the right to participate in the defense of any such claim with counsel of its choosing, at its own expense. The Buyer agrees to cooperate fully with the Seller in the defense of any such claim.

5. Insurance

The Buyer agrees to maintain adequate insurance coverage, including liability insurance, to cover its indemnification obligations under this agreement. The Seller may require the Buyer to provide proof of insurance upon request.

VII. Governing Law

This Contract shall be governed by and construed under the laws of [JURISDICTION].

Conflict Resolution

Any disputes arising out of or related to this Contract shall be resolved exclusively through arbitration in [CITY], [JURISDICTION] under the rules and procedures of the [ARBITRATION ASSOCIATION].

Process of Arbitration

The arbitration shall be conducted by [NUMBER] arbitrator(s) appointed under the rules of the [ARBITRATION ASSOCIATION]. The decision of the arbitrator(s) shall be final and binding upon both parties.

Exclusions

Notwithstanding the above, either party may seek injunctive relief or other equitable remedies from a court of competent jurisdiction to enforce its rights under this Contract.

VIII. Entire Agreement

1. Thorough comprehension

This Contract represents the comprehensive understanding and agreement between the parties concerning the subject matter herein. It encompasses all discussions, negotiations, and agreements made between the parties before the execution of this Contract.

2. Consolidation of terms

All terms, conditions, and provisions contained within this Contract integrate and supersede any prior written or oral agreements, understandings, or communications between the parties relating to the subject matter hereof.

3. Omission of terms

Any additional terms or conditions not expressly outlined in this Contract shall be deemed excluded and shall have no force or effect unless agreed to in writing by both parties.

4. Clarification of intent

The parties hereby acknowledge that they have read and understood this Contract in its entirety, and any ambiguity or uncertainty shall not be construed against either party as the drafter of this Contract.

5. Reliance Waiver

Each party acknowledges that in entering into this Contract, they have not relied on any representations, warranties, or promises not expressly contained herein.

6. Reservation of Rights

Except as expressly provided herein, no modification, amendment, or waiver of any provision of this Contract shall be effective unless made in writing and signed by the parties.

7. Severability

If any provision of this Contract is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be deemed severed from this Contract, and the remaining provisions shall remain in full force and effect.

IX. Amendments

1. Written Amendments

Any amendments or modifications to this Contract must be made in writing and signed by both parties.

2. Waiver Clause

No waiver of any provision of this Contract shall be deemed a waiver of any other provision or of the same provision at another time unless such waiver is expressly agreed to in writing by the party granting the waiver.

3. Preservation of Rights

The parties acknowledge and agree that the failure to enforce any provision of this Contract shall not constitute a waiver of such provision or affect the right of either party to enforce such provision in the future.

4. Entire Agreement Clause

The provisions of this section regarding amendments and waivers constitute an integral part of this Contract and shall be construed in conjunction with the other provisions herein.

IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the date first above written.

[BORROWER'S NAME]

[DATE SIGNED]

[LENDER'S NAME]

[DATE SIGNED]

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