How to Write a Private Vehicle Payment Agreement
The payment agreement portion of a private vehicle sales contract is the promissory note, or promise to repay a loan according to specific terms spelled out in the document.
Specify the seller has good title to the vehicle and the legal right to sell the vehicle.
State that the buyer is purchasing a vehicle. Identify the vehicle by make, model, year of manufacture and VIN number, and name the agreed-upon purchase price and interest rate if any.
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