How to Write a Private Vehicle Payment Agreement

The payment agreement portion of a private vehicle sales contract is the promissory note, or promise to repay a loan according to specific terms spelled out in the document.

Step 1

Step 2

Specify the seller has good title to the vehicle and the legal right to sell the vehicle.

Step 3

State that the buyer is purchasing a vehicle. Identify the vehicle by make, model, year of manufacture and VIN number, and name the agreed-upon purchase price and interest rate if any.

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