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Retail Installment Sale Contract

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Retail Installment Contract and Security Agreement

Seller Name and Address

ACA Motors

123 ACA Drive

GOODLETTSVILLE, TN 37072

Buyer(s) Name(s) and Address(es)

JANE DOE

123 1ST AVE

SEVIERVILLE, TN 37862

Summary

No. 569191

Date 6/3/2013

Business, commercial or agricultural purpose Contract

Truth-In-Lending Disclosure

Annual Percentage Rate

23%

Finance Charge

$

Amount Financed

$

Total of Payments

$

Total Sale Price

$

Payment Schedule. Your payment schedule is:

No. of Payments Amount of Payments When Payments are Due

Security. You are giving us a security interest in the Property purchased.

Late Charge. If all or any portion of a payment is not paid within 10 days of its due date, you will be charged a late charge of 5% of the unpaid amount of the payment due.

Prepayment. If you pay off this Contract early, you will not have to pay a penalty.

Description of Property

Year

Make

Model

Style

Odometer Mileage

New Used Demo

Description of Trade-In

Conditional Delivery

Conditional Delivery. If checked, you agree that the following agreement regarding securing financing ("Agreement") applies:

The Agreement is part of this Contract. The Agreement will no longer control after the assignment is accepted.

Sales Agreement

Payment. You promise to pay us the principal amount of $ plus a time price differential accruing at the rate of per year.

Down Payment. You also agree to pay or apply to the Cash Price, on or before the date of this Contract, any cash, rebate and net trade-in value described in the Itemization of Amount Financed.

You agree to make deferred down payments as set forth in your Payment Schedule.

Additional Charge. You agree to pay a document preparation fee of $ that will be paid in cash. financed over the term of the Contract.

Itemization of Amount Financed

a. Cash Price of Vehicle, etc.

b. Trade-in allowance

c. Less: Amount owing, paid to

d. Net trade-in

e. Cash payment

f. Manufacturer's rebate

g. Deferred down payment

h. Other down payment (describe)

i. Down Payment

j. Unpaid balance of Cash Price

x. Amount Financed

Insurance Disclosures

Credit Life Single Joint None

Premium $ Term Insured

Credit Health Single Joint None

Premium $ Term Insured

By:

By:

By:

Property Insurance

Collision Deductible $

Comprehensive Deductible $

Loss Payee

By:

Additional Terms / Arbitration / Notices / Signatures

Signature Notices

The Annual Percentage Rate may be negotiable with the Seller. The Seller may assign this Contract and retain its right to receive a part of the Finance Charge.

Arbitration. This Contract contains an Arbitration Provision that affects your rights.

Buyer

By: Date

By: Date

By: Date

Seller

By: Date

Assignment to

Phone

This Assignment is made with recourse.

Odometer Disclosure Statement

Transferor's name states the odometer now reads miles.

Odometer reading reflects mileage in excess of mechanical limits.

Odometer reading is not the actual mileage.

Make

Model

Body Type

Vehicle Identification Number

Year

Date of Statement

Transferor's Signature

Printed Name

Transferee's Signature

Printed Name

Address

Auto Pay – ACH Authorization Agreement

Borrower Name Co-Borrower Name

Borrower Signature Co-Borrower Signature

Address ACA Account #

City/State/Zip Phone Date

Bank Account Number

Bank Routing Number

Bank Name

Day of the Month to Debit Account Payment Start Date Payment Amount

Buyer's Order

Dealer/Seller Name Buyer Name

Vehicle Year Make Model

VIN Odometer Reading

Retail Motor Vehicle Credit Application

Credit Sale Lease

Applicant Name DOB SSN/Tax ID

Current Address City/State/Zip

Home Phone Cell Phone Monthly Rent/Mortgage

Employer Gross Monthly Salary

Personal Reference Sheet

Landlord/Mortgage Contact

Address Phone

Name Relationship

Address Phone

Funding Checklist / Bookout / Insurance / Reference Items

Funding Checklist

Vehicle Bookout

Additional Notes

Applicant Signature

Date

Dealer/Seller Signature

Date

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What the Retail Installment Sale Contract Is

A Retail Installment Sale Contract documents a consumer purchase paid over time and commonly appears in vehicle, appliance, furniture, or electronics transactions. It records the cash price, down payment, finance charge, annual percentage rate (APR), payment schedule, security interest and remedies for default. Properly completed contracts protect buyer and seller rights, set enforceable payment obligations, and enable lien recording where the seller retains a security interest in the goods.

Why this contract matters for buyers and sellers

A clear Retail Installment Sale Contract reduces disputes, establishes lawful finance terms, and supports enforcement if payments stop. It also creates the record needed to perfect security interests and to show compliance with consumer credit laws such as TILA where applicable.

Why this contract matters for buyers and sellers

Who typically completes a Retail Installment Sale Contract

Several parties interact with this contract during a retail financing transaction; responsibilities differ by role.

  • Dealerships and retail sellers that finance goods directly or arrange third-party financing for customers.
  • Buyers or consumers entering into installment payment arrangements for vehicles, appliances, or other goods.
  • Third-party finance companies, lenders, or credit unions that purchase or service installment receivables.

Step-by-step: completing a Retail Installment Sale Contract

Follow these sequential steps to prepare, verify, and finalize the contract for legal and operational completeness.

  • 01
    Prepare: Gather buyer ID, vehicle/goods details, pricing, and payment terms.
  • 02
    Calculate: Compute finance charge, APR, total of payments, and any fees.
  • 03
    Disclose: Provide required consumer finance disclosures and obtain consent.
  • 04
    Sign: Obtain all required signatures and record the document securely.

Core sections to include in a professional contract

A complete Retail Installment Sale Contract contains defined sections that establish the credit arrangement, collateral, obligations, and remedies.

Parties

Identify seller/lender and buyer with legal names, mailing addresses, and contact information so the agreement is attributable and enforceable.

Description of collateral

Provide a detailed item description (VIN or serial, make, model) so the collateral is unambiguously identified for security-interest perfection.

Price and consideration

State cash price, down payment, trade-in allowance, and net amount financed to document the transaction's financial basis.

Finance terms

Set the finance charge, APR, payment frequency, number of payments, total of payments and any late fees or prepayment terms.

Security interest and liens

Describe the security interest retained by seller, authority to file UCC-1 or state lien records, and repossession remedies on default.

Default and remedies

Detail late charge policy, default events, cure period (if any), repossession procedures and deficiency or waiver terms.

Essential fields and short-form checklist

Buyer identity: Full legal name
Seller identity: Legal business name
Item identification: VIN or serial number
Payment terms: APR and schedule
Security clause: Lien description
Signature block: Signer names and dates

Penalties and legal risks of errors

TILA violations: Civil damages possible
Incorrect APR: Rescission risk or fines
Missing signatures: Enforceability weakened
UCC filing errors: Loss of perfected lien
Improper disclosures: Regulatory penalties
Data breaches: Privacy liabilities

Common mistakes to avoid when preparing the contract

  • Using informal or ambiguous descriptions of the collateral that prevent clear identification during a repossession or title transfer.
  • Failing to calculate APR and finance charges correctly, which can trigger consumer-protection remedies and statutory damages under TILA.
  • Neglecting to list or record the security interest properly (UCC-1 or state lien filing), which can result in losing priority to other creditors.
  • Omitting required state or federal consumer disclosures or failing to secure explicit consent for electronic delivery when consumer-facing disclosures apply.

Where to send and how the signed contract is processed

The contract typically moves from preparation to execution, then to lien filing and document retention—each step requires specific routing.

  • Seller records: Store executed copy in seller records
  • Lien filing: File UCC-1 or state lien as required
  • Finance company: Deliver if third-party purchase occurs
  • Consumer copy: Provide signed copy to buyer

How to configure an online completion workflow

Configure fields, signer order, authentication, and storage rules to match your process and legal needs.

Field Configuration
Signer order Buyer first, then seller or lender
Authentication Email + SMS code or KBA
Calculated fields Auto-calc APR and totals
Storage Encrypted PDF with audit trail

Digital signing and technical considerations

Use a platform that supports secure e-signing, audit trails, and integration with your filing and accounting systems.

  • Authentication options: Email, SMS, KBA
  • Integrations: Salesforce, NetSuite, Microsoft 365
  • File formats: PDF, DOCX, fillable forms

Comparing common eSignature providers for installment sale workflows

Price and feature needs vary by volume, regulation, and integrations. The table shows typical starting prices and feature availability among leading vendors.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Practical examples from organizations using e-sign workflows

These real-world notes show how electronic signing supports document execution in varied business contexts.

Martin Properties — Tim Martin

Martin Properties needed a remote execution process to close deals faster.

  • Digital signing reduced turnaround and paper handling.
  • "I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently."

Optica Ventures — Brian Fitzgibbons

Optica streamlined routine customer agreements for distributed teams.

  • Simplified interface improved external completion rates.
  • "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."

Frequently asked questions about Retail Installment Sale Contracts

Answers address common legal, procedural and technical questions encountered when preparing or signing these contracts.


Need help? Contact support

Practical tips for accurate, efficient contract completion

Follow these practices to reduce errors, speed processing and protect enforceability.

Standardize templates
Use a vetted template that includes required disclosures and fields to reduce drafting errors and the need for attorney review.
Validate identity
Verify buyer identity with government ID and consider stronger signer authentication for higher-risk transactions.
Automate calculations
Use formula fields to compute APR, finance charges and totals to avoid manual math errors and inconsistent figures.
Preserve audit trails
Capture timestamps, IP, authentication events and signed PDFs to support enforceability and regulatory audits.

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