Personal Car Loan Agreement Template

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Personal Car Loan Agreement Template

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Personal Car Loan Agreement Template (1)
Between:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
And:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
Introduction:
This document formalizes the agreement for a personal car loan between the Lender and the Borrower, effective as of [Loan Start Date].
Clause 1: Loan Amount
The Lender agrees to loan the Borrower the sum of [Amount] for the purpose of purchasing a vehicle.
Clause 2: Interest Rate
The loan will incur an annual interest rate of [Percentage]% calculated on the outstanding principal.
Clause 3: Repayment Terms
The Borrower agrees to repay the loan in [number] monthly installments, starting on [First Payment Date], with a final payment due on [Final Payment Date].
Clause 4: Prepayment
The Borrower may prepay all or part of the loan amount without penalty.
Clause 5: Default
In the event of default, the Borrower agrees to pay a late fee of [Amount] and the Lender may demand the entire remaining balance immediately.
Clause 6: Governing Law
This agreement will be governed by the laws of [Jurisdiction].
Signed in [City], [Date].
Sincerely,
[Signature of the Lender]
[Name of the Lender]
[Signature of the Borrower]
[Name of the Borrower]
Personal Car Loan Agreement Template (2)
Between:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
And:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
Introduction:
This agreement outlines the terms under which the Lender provides a personal car loan to the Borrower, commencing on [Loan Start Date].
Clause 1: Amount of Loan
The total amount of the loan shall be [Amount].
Clause 2: Interest and Fees
The loan is subject to an interest rate of [Percentage]%, compounded monthly. Additional fees may apply as disclosed in this agreement.
Clause 3: Payment Schedule
Repayment shall occur in [number] installments of [Installment Amount], due on the [specific day] of each month.
Clause 4: Collateral
The Borrower agrees to provide the vehicle as collateral for the loan until it is fully repaid.
Clause 5: Events of Default
Failure to make payments as agreed will be considered a default, allowing the Lender to take possession of the vehicle.
Clause 6: Applicable Law
The laws of [Jurisdiction] shall govern this agreement.
Signed in [City], [Date].
Sincerely,
[Signature of the Lender]
[Name of the Lender]
[Signature of the Borrower]
[Name of the Borrower]

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Please complete the form below to create the Personal Car Loan Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

Personal Car Loan Agreement Template

1. Borrower Information


2. Lender Information


3. Loan Details


4. Vehicle Information


5. Payment Terms

6. Default Conditions

7. Insurance Requirements

8. Governing Law

9. Signatures and Acceptance

10. Declaration and Signatures



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Personal Car Loan Agreement Template

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Personal Car Loan Agreement Template