Free Car Payment Agreement

This Car Payment Agreement (the "Agreement") is entered into on [Date], by and between [Your Name], referred to herein as the "Buyer," and [Dealer's Name], referred to herein as the "Seller." This Agreement governs the terms and conditions of the financial arrangement for the purchase of a vehicle.

1. Description of Vehicle

The vehicle subject to this Agreement is described as follows:

• Make: Crimson Motors

• Model: Thunderhawk

• Year: 2053

• Vehicle Identification Number (VIN): XYZ12345678901234

2. Purchase Price

The total purchase price for the Vehicle is $25,000.00 (USD). The Buyer will pay the Purchase Price by the Payment Schedule provided in Section 3 of this Agreement.

3. Payment Schedule

• A down payment of $5,000.00 (USD) is due upon signing of this Agreement.

• The remaining balance of $20,000.00 (USD) is to be paid in 12 equal monthly installments of $1,666.67 (USD) each, starting on May 1, 2053, and continuing on the same day of each month thereafter until the balance is paid in full.

4. Late Payment

In the event of late payment, the Buyer shall incur a late fee of $50.00 (USD) for each installment payment not received within 10 days of the due date.

5. Terms of Repayment

The Buyer agrees to make all payments by electronic transfer to the Seller's designated account. Payments made by check or money order shall be made payable to [Dealer's Name].

6. Delivery of Vehicle

Upon receipt of the down payment, the Seller agrees to deliver the vehicle to the Buyer within 5 days. The Buyer acknowledges that ownership of the vehicle shall remain with the Seller until full payment of the purchase price is received.

7. Governing Law

This Agreement shall be governed by and construed under the laws of the [State] without regard to its conflict of laws principles. Any legal action arising from or relating to this Agreement shall be brought exclusively in the court.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of [Effective Date].

[YOUR NAME]

[DATE SIGNED]

[DEALER'S NAME]

[DATE SIGNED]

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