A car purchase and sale agreement is a legal document between the seller of a car and the buyer. This contract gives details regarding the vehicle for sale and authorises the change in ownership.
The car sale agreement will list the parties involved in the transaction. The owner will state his name, address and contact information. The buyer will also list his information.
Details regarding the vehicle, such as the make, model and year, will be listed within the car purchase and sale agreement document. It also will list the car's odometer reading, colour and its vehicle identification number.
The terms in which the vehicle will be transferred to the new owner will be listed in the agreement. The document will include the price of the car, the payment method and the handover date. Each party must sign the car purchase and agreement for it to be a legally binding contract.