This Auto Finance Agreement is essential for any vehicle financing transaction in South Africa, serving as the primary contract between a finance provider and a customer seeking to purchase a vehicle through financed payments. The document is designed to comply with South African legislation, particularly the National Credit Act 34 of 2005 and the Consumer Protection Act 68 of 2008. It includes detailed provisions for the financing terms, vehicle specifications, payment schedules, insurance requirements, and security arrangements. The agreement is typically used by banks, financial institutions, and automotive dealerships when providing vehicle financing to consumers or businesses. It incorporates mandatory consumer protection provisions, credit cost disclosure requirements, and clearly defines the rights and obligations of all parties throughout the financing term until the vehicle is fully paid off.

1. Parties: Identification of the Finance Provider and the Customer/Borrower with full legal names and details

2. Background: Context of the agreement including the Customer's request for vehicle financing and the Finance Provider's agreement to provide it

3. Definitions: Key terms used throughout the agreement including 'Vehicle', 'Principal Debt', 'Interest Rate', 'Term', 'Installment'

4. The Vehicle: Detailed description of the financed vehicle including make, model, year, VIN, and registration number

5. Finance Terms: Core financial terms including principal amount, interest rate, term, and payment schedule

6. Payment Obligations: Details of installment payments, payment methods, and consequences of late or missed payments

7. Vehicle Ownership and Registration: Provisions regarding vehicle ownership during financing period and transfer upon completion

8. Insurance Requirements: Mandatory insurance requirements and procedures for insurance claims

9. Vehicle Use and Maintenance: Customer obligations regarding vehicle care and permitted use

10. Early Settlement and Termination: Provisions for early payoff and termination procedures

11. Default and Remedies: Events of default and Finance Provider's rights and remedies

12. General Terms: Standard contractual provisions including notices, amendments, and governing law