8+ Usable Vehicle Purchase Agreement Templates (WORD)

A vehicle purchase agreement is a legal document verifying a vehicle purchase transaction made between buyer and seller. A vehicle bill of sale is the other name of this document and is usually used for all types of vehicles and automobiles. It keeps both parties away from future misunderstandings by protecting their rights and duties in a legal manner. The vehicle purchase agreement template offers a perfect professional-looking format to draft this agreement simply. It makes the transaction legal in the eyes of the law by certifying the transfer of ownership rights from seller to buyer in exchange for a particular sum of money.

A vehicle purchase agreement is entered into between a car dealer or private seller and a buyer to officially recognize that specified payment for the vehicle has been made by the buyer to get the possession of vehicle legally. It evidences the purchase transaction of a vehicle like a car, van, motorbike, ATV, etc. It must be drafted and signed when money changes hands. Through this way, the buyer will acquire the ownership rights transferred from the seller. Agreement writing policies and rules are different from state to state so you must follow a well-made vehicle purchase agreement template to compose one with all essential contents.

Details included in the vehicle purchase agreement or vehicle bill of sale are names and contact details of parties, make and model of the vehicle, physical condition, repair & maintenance history if required, a specified sum of money as the cost that the customer will pay, payment terms, other required details, etc. There must be a proper agreement format to follow in order to prevent errors and mistakes. Whether you are entering the transaction as seller or buyer, you can employ the vehicle purchase agreement template word to compose the agreement with all legal terms and conditions.