Vehicle Purchase Contract

VEHICLE PURCHASE CONTRACT

This Vehicle Purchase Contract (the "Agreement") is made effective as of by and between Seller Name: with a primary address at , and Buyer Name: with a primary address at .

RECITALS

WHEREAS, Seller is the legal owner of the motor vehicle described below and has authority to sell the same;

WHEREAS, Buyer desires to purchase the vehicle on the terms and conditions set forth in this Agreement; and

WHEREAS, the parties intend that this Agreement will constitute the entire agreement between them regarding the sale and transfer of the vehicle.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

1. VEHICLE

2. PURCHASE PRICE AND PAYMENT

The total purchase price for the Vehicle is $ (the "Purchase Price"). Buyer shall pay a deposit of $ upon execution of this Agreement. The balance of the Purchase Price in the amount of $ shall be due and payable on or before .

Cash   Certified Check   Wire Transfer   Third-Party Financing

3. DEPOSIT AND ESCROW

Deposit shall be held by Seller (or escrow agent if agreed) and applied to the Purchase Price at closing. If Buyer fails to complete purchase by the balance due date without lawful excuse, Seller may retain the deposit as liquidated damages, not as a penalty, unless otherwise agreed in writing.

4. DELIVERY, TITLE AND REGISTRATION

Seller shall deliver the Vehicle, a properly executed Certificate of Title, and all required transfer documents to Buyer upon receipt of full payment. Title shall be transferred free and clear of all liens and encumbrances except as expressly disclosed in this Agreement. If any lien exists, check and describe:

Liens exist. Lien details:

Buyer is responsible for registration, license fees, and any taxes assessed upon transfer unless otherwise agreed. Seller shall provide reasonable cooperation to effect transfer of title.

5. WARRANTIES; AS IS SALE

Seller expressly warrants that Seller is the lawful owner of the Vehicle, that the Vehicle is free of undisclosed liens (except as disclosed), and that Seller has full authority to sell the Vehicle. Except for the foregoing ownership warranty and any written warranty attached to this Agreement, the Vehicle is sold "AS IS" and "WITH ALL FAULTS." Buyer acknowledges receipt of any written warranty provided at the time of sale.

Buyer acknowledges that Buyer has been afforded the opportunity to inspect the Vehicle and to have it inspected by a mechanic of Buyer's choice prior to execution of this Agreement.

6. ODOMETER STATEMENT

Seller certifies to the best of Seller's knowledge that the odometer reading at the time of sale is miles and that, to Seller's knowledge, the odometer reading reflects the actual mileage of the vehicle unless one of the following is checked:

Odometer exceeds mechanical limits   Odometer reading is not the actual mileage (state reason below)

7. REPRESENTATIONS AND COVENANTS

Each party represents and warrants that it has the full right, power, and authority to enter into this Agreement and to perform its obligations hereunder. Seller further represents that there are no pending actions or claims affecting Seller's title to the Vehicle, and Seller shall promptly disclose any such matters in writing.

8. INDEMNIFICATION

Buyer shall indemnify, defend and hold Seller harmless from and against any claims, liabilities, losses or expenses arising from Buyer's use or possession of the Vehicle after delivery. Seller shall indemnify Buyer for any loss resulting from Seller's breach of the ownership and title representations made in this Agreement.

9. DEFAULT

If Buyer fails to pay any amount when due or otherwise defaults in performance, Seller may retain the deposit and pursue any remedies available at law or in equity, including specific performance or damages. If Seller breaches this Agreement, Buyer may seek damages or specific performance.

10. NOTICES

All notices, demands and other communications required or permitted under this Agreement shall be in writing and delivered by hand, certified mail, or nationally recognized overnight courier to the addresses set forth at the beginning of this Agreement or to such other address as either party may designate by written notice to the other.

11. AMENDMENT; WAIVER; COUNTERPARTS

This Agreement may be amended only by a written instrument signed by both parties. No waiver of any provision shall be effective unless in writing and signed by the party granting the waiver. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one instrument.

12. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Vehicle is principally located at the time of sale. The parties submit to the exclusive jurisdiction of the courts located in that state for any dispute arising under this Agreement.

13. ENTIRE AGREEMENT; SEVERABILITY

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral. If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

14. MISCELLANEOUS

Time is of the essence with respect to all dates and deadlines set forth in this Agreement. Headings are for convenience only and shall not affect interpretation. The parties shall execute such further documents and take such further actions as may be reasonably necessary to carry out the intent of this Agreement.

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