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The Selling A Car With Payments Contract is essential for transactions where a vehicle is sold with financing provided directly by the seller rather than through a third-party financial institution. This document is commonly used in the United States by both private sellers and dealerships who wish to offer in-house financing options. The contract must comply with federal regulations including the Truth in Lending Act and the Uniform Commercial Code, as well as state-specific vehicle transfer and consumer protection laws. It includes crucial elements such as vehicle identification, payment terms, security interests, and default remedies, making it suitable for both private party sales and commercial transactions where traditional bank financing is not utilized. The document serves as both a sales agreement and a security agreement, protecting the seller's interests until full payment is received while providing the buyer with clear terms and conditions of the purchase.

1. Parties: Identifies and provides full details of the seller and buyer, including legal names, addresses, and contact information

2. Background: Brief context explaining the seller's ownership of the vehicle and buyer's intent to purchase with payments

3. Definitions: Defines key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Payment Terms', 'Security Interest'

4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, mileage, and condition

5. Purchase Price and Payment Terms: Specifies total purchase price, down payment, payment schedule, interest rate, and payment methods

6. Security Interest: Establishes seller's security interest in the vehicle until full payment is received

7. Title and Registration: Details the process and timing of title transfer, registration requirements, and handling of documentation

8. Representations and Warranties: Seller's declarations about vehicle condition and ownership; buyer's acknowledgments

9. Default and Remedies: Defines events of default and outlines remedies including repossession rights

10. Insurance Requirements: Specifies required insurance coverage and designation of interested parties

11. Governing Law: Specifies that the agreement is governed by US law and the specific state's jurisdiction

12. Signatures: Formal execution section with date and signatures of all parties