You are reading this message because your browser either does not support JavaScript or has it disabled. Please enable JavaScript and Cookies in order to use this site.
If your browser is not JavaScript capable, you can obtain either Firefox or Microsoft Internet Explorer. Under Linux, any browser using the latest Mozilla engine should work.
CONTRACT PURCHASE AGREEMENT
THIS CONTRACT PURCHASE AGREEMENT (this "Agreement") dated this ________ day of ________________, ________
BETWEEN:
________________________ of _____________________________________(the "Buyer")
OF THE FIRST PART
- AND -
________________________ of _____________________________________(the "Seller")
OF THE SECOND PART
(the Buyer and Seller are collectively the "Parties")
IN CONSIDERATION of the mutual covenants and promises in this Agreement and other valuable consideration, the sufficiency of which consideration the Parties hereby acknowledge, the Seller desires to sell the Vehicle described in this Agreement to the Buyer, and the Buyer desires to buy the Vehicle from the Seller on the following terms:
The Buyer will ensure that the Seller is named as registered owner, and as "Additional Insured" and loss payee in the insurance policy (the "Insurance Policy").
IN WITNESS WHEREOF the Parties have executed this Agreement on this ________ day of ________________, ________.
_____________________________________________________(Seller)
_____________________________________________________(Buyer)
NOTICE TO THE BUYER:(1) This is a financing agreement. You do not own the motor vehicle previously described until you have paid the Seller all Monthly Payments, the Guaranteed Future Value of the Vehicle, and any fees, taxes, and expenses related to the purchase of the Vehicle;(2) Do not sign this Agreement before you read it or if it contains any blank spaces to be filled in;(3) You are entitled to a completely filled in copy of this Agreement when you sign it;(4) Warning -- unless a charge is included in this Agreement for public liability or property damage insurance, payment for that coverage is not provided by this Agreement.
Buyer Initials
Seller Initials
Itemisation of Gross Capitalised Cost
(A) Value of the Vehicle as equipped at the time of entering into the Agreement ...................................................................................................
£1
(B) Values and descriptions of accessories and optional equipment the Seller agrees to add to the Vehicle after entering into the Agreement .......
none
(C) Premium to be paid for each policy of insurance ................................
(D) Charge for each service contract ..........................................................
(E) Outstanding Agreement balance or prior credit balance ....................
(F) Itemisation of any other good or service not included above ..............
(G) Total Gross Capitalised Cost .............................................................
£1.00
Monthly Payment Calculation
Gross capitalised cost. The agreed upon value of the Vehicle (£1) and any items the Buyer pays over the Term (such as service contracts, insurance, any outstanding prior credit or Agreement balance) ....................................................................................................
Capitalised cost reduction. The amount of the trade in allowance and down payment made by the Buyer to reduce the gross capitalised cost ...................................................................................................................
-
£__________
Adjusted capitalised cost. The amount used in calculating the periodic payments ..................................................................................................(This amount along with the additional early termination charges will be used in determining your early termination liability.)
=
Guaranteed Future Value. The value of the Vehicle at the end of the Agreement used in calculating the base Monthly Payments ....................
Depreciation and any amortised amounts. The amount charged for the Vehicle's decline in value through normal use and other items paid over the Term ............................................................................................
Interest charge. The interest charged in addition to the depreciation and any amortised amounts .......................................................................
+
£0.00
Total of base monthly payments. The depreciation and any amortised amounts plus the interest charge ..............................................................
Agreement payments. The number of payments in your Agreement ...
/ 1
Base monthly payment............................................................................
Monthly VAT...........................................................................................
_____
Total Monthly Payment..........................................................................
Note: Your initial answers are saved automatically when you preview your document.This screen can be used to save additional copies of your answers.