Motor Vehicle Retail Installment Sales Contract for Canada

Motor Vehicle Retail Installment Sales Contract Template for Canada

A comprehensive legal agreement used in Canadian jurisdictions for the sale and financing of motor vehicles through installment payments. This document combines elements of a vehicle purchase agreement with financing terms, complying with both federal and provincial regulations regarding consumer protection, vehicle sales, and lending practices. It details the complete terms of the sale including vehicle specifications, purchase price, financing arrangements, security interests, and obligations of all parties involved. The contract ensures compliance with Canadian consumer protection laws, financial regulations, and provincial motor vehicle sales requirements while protecting the interests of both the seller and buyer.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Motor Vehicle Retail Installment Sales Contract

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Motor Vehicle Retail Installment Sales Contract?

The Motor Vehicle Retail Installment Sales Contract is a crucial document used in Canadian automotive sales where the purchaser finances the vehicle through installment payments rather than paying the full amount upfront. This contract type is essential for dealerships and financial institutions as it combines the vehicle sale agreement with financing terms, ensuring compliance with federal regulations such as the Interest Act and Cost of Borrowing Regulations, as well as provincial consumer protection and motor vehicle sales laws. The document is typically used when a customer purchases a new or used vehicle and requires financing, establishing the terms of both the sale and the payment plan. It includes detailed information about the vehicle, pricing, financing terms, security interests, insurance requirements, and the rights and obligations of all parties involved. The contract serves as both a legal record of the sale and a binding agreement for the financing arrangement, protecting the interests of the dealer, financial institution, and purchaser.

What sections should be included in a Motor Vehicle Retail Installment Sales Contract?

1. Parties: Identification of the seller (dealer), buyer(s), and any co-signers, including full legal names, addresses, and contact information

2. Background: Brief context of the transaction, establishing the dealer's authority to sell and the buyer's intention to purchase

3. Definitions: Key terms used throughout the contract including but not limited to 'Vehicle', 'Purchase Price', 'Annual Percentage Rate', 'Term', and 'Payment Schedule'

4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, color, odometer reading, and condition

5. Purchase Price and Payment Terms: Complete breakdown of the purchase price, including taxes, fees, down payment, trade-in value, and financing details

6. Financing Terms: Details of the installment plan including APR, payment schedule, total cost of borrowing, and prepayment terms

7. Security Interest: Declaration of the seller's security interest in the vehicle until full payment is received

8. Insurance Requirements: Mandatory insurance coverage requirements and terms

9. Warranties and Conditions: Details of any warranties provided, condition of the vehicle, and as-is provisions if applicable

10. Default and Remedies: Consequences of default and available remedies for both parties

11. Assignment: Terms regarding the seller's right to assign the contract to a financial institution

12. Governing Law: Specification that the agreement is governed by Canadian law and applicable provincial legislation

13. Signatures: Execution block for all parties, including dates and witness requirements

What sections are optional to include in a Motor Vehicle Retail Installment Sales Contract?

1. Trade-In Vehicle: Details of any vehicle being traded in, including description, value, and condition - used when there is a trade-in vehicle

2. Co-Signer Agreement: Additional terms and obligations for co-signers - included when there is a co-signer on the loan

3. Extended Warranty: Terms of any extended warranty or service contract purchased - included when buyer opts for extended coverage

4. Gap Insurance: Terms of gap insurance coverage - included when buyer opts for gap insurance

5. Electronic Communication Consent: Terms for electronic delivery of notices and documents - included when parties agree to electronic communications

6. Language Selection: Choice of language declaration (English/French) - required in Quebec and optional in other bilingual regions

7. Negative Equity: Details of negative equity from trade-in vehicle being rolled into new financing - included when applicable

What schedules should be included in a Motor Vehicle Retail Installment Sales Contract?

1. Schedule A - Vehicle Condition Report: Detailed inspection report of the vehicle's condition at time of sale

2. Schedule B - Payment Schedule: Detailed breakdown of all payments including dates, amounts, and allocation between principal and interest

3. Schedule C - Warranty Documentation: Detailed warranty terms, conditions, and coverage periods

4. Schedule D - Insurance Requirements: Specific insurance coverage requirements and minimum terms

5. Appendix 1 - Vehicle History Report: CarFax or similar vehicle history report

6. Appendix 2 - Trade-In Vehicle Assessment: Detailed evaluation of any trade-in vehicle

7. Appendix 3 - Cost of Borrowing Disclosure: Detailed breakdown of all financing costs as required by federal regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Publisher

Genie AI

Document Type

Sales Contract

Sector

Sales

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Automotive Retail

Financial Services

Consumer Lending

Insurance

Automotive Manufacturing

Legal Services

Consumer Services

Relevant Teams

Legal

Finance

Sales

Compliance

Risk Management

Documentation

Credit

Operations

Customer Service

Administration

Relevant Roles

Finance Manager

Sales Manager

Automotive Sales Representative

Compliance Officer

Legal Counsel

Financial Services Representative

Contracts Administrator

Credit Manager

Dealership General Manager

Consumer Protection Officer

Risk Management Officer

Documentation Specialist

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Land Contract For Sale

A legally binding agreement for the purchase and sale of real property in Canadian jurisdictions, outlining terms and conditions for land transfer.

find out more

Dog Sale Contract

A Canadian-law governed agreement for the sale and transfer of ownership of a dog, including health guarantees and ownership responsibilities.

find out more

Dog Bill Of Sale

A Canadian legal document that formalizes the sale and transfer of ownership of a dog, ensuring compliance with provincial and federal regulations while protecting both buyer's and seller's interests.

find out more

Deed Of Sale Form For Car

A legal document for vehicle ownership transfer in Canada, detailing sale terms and complying with federal and provincial requirements.

find out more

Commission Sales Agreement

A Canadian-law governed agreement establishing terms for commission-based sales representation, including compensation structure and performance requirements.

find out more

Land For Sale Land Contract

A legally binding agreement for land sale transactions in Canada, outlining terms and conditions for property transfer from seller to buyer.

find out more

Deed Of Sale For Property

A legally binding document under Canadian law that transfers real property ownership from seller to buyer, containing all essential terms and conditions of the sale.

find out more

Sale Agreement Of Immovable Property

A legally binding agreement used in Canadian jurisdictions to document and facilitate the transfer of real estate ownership between a vendor and purchaser, outlining all essential terms and conditions of the sale.

find out more

Real Estate Installment Sales Contract

A Canadian-law governed agreement for the sale of real estate property through scheduled installment payments, with the seller retaining title until full payment is received.

find out more

Contract To Sell

A Canadian-law governed agreement documenting terms and conditions for the sale of goods between parties, compliant with federal and provincial regulations.

find out more

Farm Purchase Agreement

A Canadian legal agreement for the purchase and sale of agricultural property, including land, buildings, equipment, and associated rights under federal and provincial jurisdiction.

find out more

Non Compete Agreement Sale Of Business

A Canadian legal agreement that prevents a business seller from competing with the sold business, including specific temporal and geographic restrictions.

find out more

Sale Of Business As A Going Concern Agreement

A Canadian law-governed agreement for the transfer of an operational business entity, including all assets, liabilities, and ongoing operations from vendor to purchaser.

find out more

Agreement To Sell With Possession

A Canadian legal agreement that combines property sale terms with immediate possession arrangements, allowing the buyer to occupy the property before the sale closes.

find out more

Form For Sale Of Vehicle

A Canadian-compliant agreement template for vehicle sales transactions, suitable for use by private individuals, businesses, and dealerships.

find out more

Used Equipment Sales Agreement

A Canadian-law governed agreement for the sale and purchase of used equipment, defining terms, conditions, and obligations for both parties.

find out more

Offer To Sell

A Canadian-compliant formal written proposal from a seller to a buyer, detailing terms and conditions for the sale of goods, services, or assets.

find out more

Vehicle Purchase Form

A standardized form for vehicle purchases in Canada, documenting sale terms and ensuring regulatory compliance across Canadian jurisdictions.

find out more

Contract To Sell Land

A legally binding agreement for the sale and transfer of land in Canada, compliant with federal and provincial property laws.

find out more

Lease To Purchase Contract

A Canadian legal agreement combining a property lease with a future purchase option, structured according to federal and provincial property laws.

find out more

Real Estate Listing Contract

A Canadian-jurisdiction agreement between a property owner and real estate brokerage establishing terms for marketing and selling real property.

find out more

Definitive Purchase Agreement

A Canadian law-governed agreement that finalizes the terms and conditions for the purchase and sale of a business, its assets, or shares in an M&A transaction.

find out more

Furniture Sale Agreement

A Canadian-law governed agreement establishing terms and conditions for furniture sales, including delivery, warranties, and payment terms.

find out more

Software Sales Contract

A Canadian-law governed agreement for software sales and licensing, defining terms between vendor and purchaser including rights, obligations, and compliance requirements.

find out more

Sales Rep Agreement

Canadian-law governed agreement establishing terms for independent sales representation, including commission structure and territorial rights.

find out more

Sale Deed Agreement

A Canadian legal document that transfers property ownership from seller to buyer, complying with federal and provincial property laws and registration requirements.

find out more

Export Sale Contract

A Canadian law-governed contract establishing terms for international sale and export of goods, including delivery, payment, and regulatory compliance requirements.

find out more

Contract To Sell Motor Vehicle

A Canadian-law governed agreement for the sale and transfer of ownership of a motor vehicle, detailing terms, conditions, and legal requirements of the transaction.

find out more

Vehicle Sale Deed Agreement

A Canadian legal document formalizing vehicle ownership transfer between parties, detailing sale terms and ensuring compliance with federal and provincial regulations.

find out more

Vehicle Offer And Sale Agreement

A Canadian-compliant legal agreement documenting the terms and conditions for the sale and purchase of a vehicle, ensuring protection for both seller and buyer.

find out more

Sale Of Agreement For Land

A Canadian legal agreement documenting the terms and conditions for the transfer of land ownership between a vendor and purchaser, governed by federal and provincial laws.

find out more

Manufacturer Representative Agreement

A Canadian law-governed agreement establishing terms between a manufacturer and sales representative for product promotion and sales within a defined territory.

find out more

Land Sale Agreement Form

A standardized legal document for real property transfers in Canada, outlining terms and conditions of sale while ensuring compliance with Canadian property law.

find out more

Exclusive Sales Contract

A Canadian-law governed agreement establishing exclusive sales rights between a supplier and sales representative, defining territory, terms, and performance requirements.

find out more

Agreement To Sell Personal Property Form

A Canadian legal agreement for the sale and transfer of personal property, establishing terms, conditions, and obligations for both buyer and seller.

find out more

Pleasure Craft Sales Contract

A Canadian-law governed contract for the sale and purchase of pleasure craft vessels, including terms of sale, vessel specifications, and ownership transfer requirements.

find out more

Bona Fide Sales Contract

A Canadian law-governed contract formalizing the sale and purchase of goods, detailing terms, conditions, and obligations of both parties.

find out more

Agreement To Sell House

A Canadian legal contract documenting the terms and conditions for the sale and purchase of residential property, ensuring compliance with federal and provincial real estate laws.

find out more

Lease Option Property For Sale

A Canadian legal document combining a property lease agreement with an option to purchase, establishing terms for both rental period and potential future sale under Canadian law.

find out more

Motor Vehicle Retail Installment Sales Contract

A Canadian-compliant contract for the sale and financing of motor vehicles through installment payments, combining purchase terms with financing arrangements.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now