Sales agreement


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Updated: 3/28/2003 12:53 pm Published: 3/28/2003 12:53 pm


A sales agreement is a contract between the purchaser and the seller of the vehicle, which includes all the conditions of purchase. Your first concern is that the seller be entitled to sell the vehicle. Check the vehicle's title documents to ensure that seller is the sole owner of the vehicle and that there are no lien-holders on the title. Since lemon laws don't apply to pre-owned vehicles, you should be more careful when buying a used car. Make sure that you fully understand what your options are in the event the vehicle doesn't perform as promised, and that these options are included in your sales agreement. Some dealers may offer a limited-time warranty on pre-owned vehicles; other vehicles are sold 'as is.' If a dealer offers you a limited-time warranty on the vehicle, make sure that you fully understand any conditions that may apply to have the vehicle repaired or repurchased. Your sales agreement should include all information concerning financing of your purchase and all other terms. By federal law, the seller must also provide you with a written statement verifying the odometer reading of the car. When purchasing a pre-owned vehicle, you'll generally have to arrange for a transfer of title and pay a title transfer fee. If the seller accepts responsibility for title transfer or for the payment of taxes or other administrative fees involved with the transfer of ownership, be sure that this information is included in your agreement.

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