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1. Parties: Identifies and provides full details of the financier/credit provider and the hirer/customer
2. Background: Sets out the context of the agreement, including that the hirer wishes to purchase the vehicle through hire purchase
3. Definitions: Defines key terms used throughout the agreement including Vehicle, Term, Payment Schedule, etc.
4. Vehicle Details: Specific details of the vehicle including make, model, year, VIN, registration number, and condition
5. Financial Terms: Details of the purchase price, deposit, interest rate, total amount payable, and payment schedule
6. Payment Obligations: Specifies payment terms, methods, frequency, and consequences of late or missed payments
7. Title and Risk: Clarifies that title remains with the financier until final payment while risk passes to the hirer
8. Hirer's Obligations: Maintenance, insurance, registration requirements, and usage restrictions for the vehicle
9. Insurance Requirements: Mandatory insurance coverage requirements and claims procedures
10. Default and Termination: Events of default, consequences, and termination procedures
11. Repossession Rights: Circumstances and procedures for vehicle repossession
12. General Provisions: Standard clauses including governing law, notices, assignment, and entire agreement
1. Guarantor Provisions: Required when a guarantor is securing the hirer's obligations
2. Early Termination: Details of early payout options and calculations when early termination is offered
3. Balloon Payment: Include when the agreement includes a final balloon payment
4. Trade-in Details: Required when a vehicle is being traded in as part of the purchase
5. Additional Services: Used when additional services like extended warranty or maintenance packages are included
6. Co-Hirer Provisions: Required when there are multiple hirers sharing responsibility
7. Business Use Declaration: Required when the vehicle is primarily for business use
8. Cross-Collateralization: Include when the agreement is secured by other assets or linked to other agreements
1. Schedule 1 - Vehicle Specification: Detailed description of the vehicle including all features, accessories, and condition report
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including dates, amounts, and any balloon payment
3. Schedule 3 - Insurance Requirements: Specific insurance requirements including minimum coverage levels
4. Schedule 4 - Disclosure Statement: Mandatory credit disclosure information required by the National Credit Code
5. Schedule 5 - Fees and Charges: Complete list of all applicable fees and charges
6. Appendix A - Vehicle Inspection Report: Initial condition report with photos and noting any existing damage
7. Appendix B - Direct Debit Authorization: Direct debit authorization form for regular payments
8. Appendix C - Guarantor Deed: Required when there is a guarantor, containing specific guarantor obligations
Annual Percentage Rate
Balloon Payment
Business Day
Commencement Date
Credit Provider
Default
Default Rate
Deposit
Early Termination
Event of Default
Excluded Equipment
Final Payment Date
Finance Amount
Financial Table
Fixed Rate
GST
Guarantor
Hire Purchase Price
Hirer
Initial Payment
Installment
Insurance Policy
Interest Charges
Late Payment Fee
Manufacturer's Warranty
Material Adverse Effect
Notice
Payment Date
Payment Schedule
PPSA
PPSR
Purchase Option
Purchase Price
Repayment Schedule
Schedule
Security Interest
Supplier
Term
Termination Date
Total Amount Payable
Trade-in Vehicle
Vehicle
Vehicle Documents
Vehicle Identification Number
Vehicle Registration
Vehicle Specifications
Agreement to Purchase
Financial Terms
Payment Obligations
Title and Ownership
Delivery and Acceptance
Vehicle Registration
Insurance Requirements
Maintenance and Repairs
Use of Vehicle
Risk and Liability
Security Interest
Representations and Warranties
Default
Termination
Repossession
Assignment
Notices
Privacy and Data Protection
Costs and Expenses
Taxes and Duties
Force Majeure
Indemnification
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Waiver
Guarantor Obligations
Early Termination Rights
Inspection Rights
Automotive
Financial Services
Banking
Insurance
Consumer Credit
Retail
Fleet Management
Vehicle Leasing
Car Dealerships
Legal
Finance
Compliance
Sales
Credit Assessment
Risk Management
Operations
Customer Service
Documentation
Business Development
Finance Manager
Credit Manager
Legal Counsel
Compliance Officer
Sales Manager
Fleet Manager
Credit Analyst
Contract Administrator
Risk Manager
Business Development Manager
Customer Service Manager
Vehicle Finance Specialist
Automotive Finance Consultant
Documentation Officer
Operations Manager
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