Car Sale Contract With Payments Template for Saudi Arabia

The Car Sale Contract With Payments is essential for transactions in Saudi Arabia where vehicles are sold with structured payment arrangements. This document is primarily used when a seller (either a dealership or individual) agrees to accept payments over time from a buyer, rather than a single lump sum payment. The contract must comply with Saudi Arabian law, including Sharia principles that prohibit conventional interest-bearing arrangements. It includes comprehensive details about the vehicle, payment terms, ownership transfer conditions, and both parties' rights and obligations. The document is particularly important in the Saudi market where vehicle financing must align with Islamic financial principles and local traffic authority requirements. It provides security for both parties by clearly outlining payment schedules, default procedures, and ownership transfer terms while ensuring compliance with local regulations.

1. Parties: Identification of the seller and buyer with complete contact details and official IDs

2. Background: Context of the sale and confirmation that the seller owns the vehicle free from encumbrances

3. Definitions: Key terms used throughout the agreement including Vehicle, Purchase Price, Payment Schedule, and Delivery Date

4. Sale and Purchase: Core agreement to sell and purchase the vehicle, including the total purchase price

5. Vehicle Description: Detailed description of the vehicle including make, model, year, color, and VIN number

6. Payment Terms: Details of payment structure, installment amounts, and payment dates in compliance with Sharia law

7. Delivery and Transfer of Title: Terms for vehicle delivery and transfer of ownership documentation

8. Seller's Representations and Warranties: Warranties about vehicle condition, ownership, and absence of liens

9. Buyer's Obligations: Responsibilities regarding payments, insurance, and vehicle maintenance during the payment period

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

11. General Terms: Standard contract provisions including notices, amendments, and governing law

12. Execution: Signature blocks and attestation requirements