The five boxes will contain the following information: In this area are five boxes that detail the most important components of your purchase. This is the unique number assigned to every vehicle that can typically be found on the driver-side dashboard nearest the windshield.Īn important area of the contract is the truth-in-lending disclosure area. The contract will also list the vehicle identification number or VIN. Basic information includes your name and address as well as the seller's name and address. Fortunately, car sale contracts are relatively simple. Components of a Contractįord also explains that to fully understand the contract, you need to recognize all of its components. Here's everything you need to know about a car sale contract so you're prepared when it comes time to make a purchase. An official contract is involved in the overwhelming majority of car sales and functions as an agreement between you and a dealer in which you promise to pay the cost of the vehicle in installments over time in addition to interest, according to Ford.
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