Document background
A Letter Of Intent To Purchase Vehicle is commonly used in Hong Kong's automotive market as a preliminary step in vehicle acquisition transactions. This document is typically employed when a potential buyer wishes to formally express their serious intention to purchase a vehicle while reserving the right to conduct due diligence and negotiate final terms. It includes essential information such as the vehicle's specifications, proposed purchase price, payment terms, and any conditions precedent to the final purchase. While governed by Hong Kong law and subject to local regulations including the Road Traffic Ordinance, this document is non-binding regarding the final purchase but helps establish the framework for the transaction and demonstrates the buyer's genuine interest. It's particularly useful in situations involving corporate purchases, luxury vehicles, or when dealing with imported vehicles where additional documentation and verification may be required.
