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The Auto Finance Contract is a crucial document used in the Philippine automotive and financial services sectors when a customer seeks financing for vehicle purchase. It serves as the primary agreement between financial institutions and borrowers, incorporating requirements from the Financing Company Act, Truth in Lending Act, and Consumer Act of the Philippines. The document is designed to protect both lender and borrower interests by clearly outlining financing terms, payment obligations, security arrangements, and default procedures. It includes mandatory disclosures required by Philippine banking regulations, provisions for vehicle security registration, and insurance requirements. This contract type is essential for financial institutions operating in the Philippines' auto financing market and must be regularly updated to reflect changes in local banking and consumer protection regulations.

1. Parties: Identifies the financing company (lender) and the borrower (customer) with complete details

2. Background: Brief context about the auto financing arrangement and purpose of the agreement

3. Definitions: Defines key terms used throughout the contract including 'Vehicle', 'Finance Amount', 'Interest Rate', etc.

4. Vehicle Details: Comprehensive description of the vehicle being financed including make, model, year, VIN, etc.

5. Financial Terms: Details of the financing including principal amount, interest rate, term, and total amount payable

6. Payment Terms: Schedule of payments, payment methods, and due dates

7. Security and Registration: Details of the security interest over the vehicle and registration requirements

8. Insurance Requirements: Mandatory insurance coverage requirements and terms

9. Rights and Obligations: Key responsibilities of both parties during the finance term

10. Default and Remedies: Events of default and lender's rights upon default

11. Termination: Conditions and process for early termination or completion of the contract

12. General Provisions: Standard contract clauses including notices, amendments, governing law