Sales agreement

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

A sales agreement for a pre-owned car is a purchase contract signed by both the previous owner and the new buyer. This contract may include the year, make, and model of the car; its vehicle identification number and license plate number; your name; the seller's name; and the price. This sales agreement is only a binding contract when both the seller and the buyer have signed it. When you're buying a pre-owned car from a private party or from a dealership and are ready to finalize your agreement, you may want to be sure you have plenty of time to carefully read your sales agreement in its entirety before signing the document. Having enough time, you can read carefully even the smallest print in the contract. When you're reading, if you find anything you don't understand, or that seems not to be exactly what you've agreed to, you can take the time to discuss it with the seller. After understanding and signing the agreement, the seller will sign it and give you a copy, which you can keep in your files.

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