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Loan Vehicle Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

Loan Vehicle Sale Agreement

"I need a Loan Vehicle Sale Agreement for a Toyota dealership in Kuala Lumpur selling a new Camry to a private buyer with bank financing, including a trade-in provision for the buyer's old vehicle and an extended warranty package."

Document background
The Loan Vehicle Sale Agreement is a specialized legal instrument used in Malaysia when a vehicle purchase involves financing arrangements. This document is essential for transactions where the buyer requires financial assistance to purchase a vehicle, combining both the sale and loan aspects into a single comprehensive agreement. It must comply with various Malaysian regulations, particularly the Hire-Purchase Act 1967, the Financial Services Act 2013, and the Consumer Protection Act 1999. The agreement is designed to protect all parties' interests by clearly defining the terms of sale, financing conditions, security arrangements, and ownership transfer procedures. It includes specific provisions required by Malaysian law regarding consumer protection, financial services regulations, and vehicle registration requirements. This document type is commonly used by automotive dealers, financial institutions, and vehicle purchasers throughout Malaysia, providing a standardized approach to vehicle financing transactions while ensuring legal compliance and risk management.
Suggested Sections

1. Parties: Identification of the Seller, Buyer, and Financier with complete details as required under Malaysian law

2. Background: Context of the transaction, including the Seller's ownership of the vehicle and Buyer's intention to purchase with financing

3. Definitions: Definitions of key terms used throughout the agreement, including technical and financial terms

4. Sale and Purchase: Core terms of the vehicle sale, including the purchase price and confirmation of the sale

5. Financing Terms: Details of the loan arrangement, including principal amount, interest rate, and repayment terms

6. Vehicle Details: Comprehensive description of the vehicle including make, model, registration number, and chassis number

7. Payment Terms: Structure and schedule of payments, including deposit and installment details

8. Delivery and Transfer: Terms regarding vehicle delivery and transfer of ownership

9. Warranties and Representations: Warranties from seller regarding vehicle condition and title

10. Insurance Requirements: Mandatory insurance requirements and responsibilities

11. Default and Remedies: Consequences of default and available remedies for all parties

12. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Trade-In Provisions: Used when the buyer is trading in another vehicle as part of the purchase

2. Security Interest: Additional security requirements beyond the vehicle itself

3. Guarantor Provisions: Required when a guarantor is involved in the financing arrangement

4. Early Payment Terms: Specific terms for early loan settlement or early payment discounts

5. Extended Warranty: Terms for any additional warranty coverage beyond statutory requirements

6. Vehicle Modifications: Terms regarding permitted or prohibited modifications to the vehicle

7. Cross-Default Provisions: Used when the buyer has other financing arrangements with the same financier

Suggested Schedules

1. Schedule 1 - Vehicle Specifications: Detailed technical specifications of the vehicle including all features and accessories

2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including dates, amounts, and allocation between principal and interest

3. Schedule 3 - Vehicle Inspection Report: Professional inspection report detailing the condition of the vehicle at time of sale

4. Schedule 4 - Insurance Requirements: Specific insurance coverage requirements and terms

5. Schedule 5 - Transfer Documents: List of all documents required for vehicle ownership transfer

6. Appendix A - Vehicle Registration Documents: Copies of current vehicle registration and ownership documents

7. Appendix B - Warranty Documentation: Manufacturer's warranty and any extended warranty documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






































Clauses































Relevant Industries

Automotive

Financial Services

Banking

Insurance

Transport

Retail

Fleet Management

Vehicle Leasing

Relevant Teams

Legal

Finance

Sales

Compliance

Risk Management

Credit Administration

Operations

Customer Service

Documentation

Business Development

Relevant Roles

Legal Counsel

Finance Manager

Credit Officer

Automotive Sales Manager

Compliance Officer

Risk Manager

Contract Administrator

Vehicle Finance Specialist

Business Development Manager

Insurance Coordinator

Documentation Officer

Fleet Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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