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The Owner Financed Car Sale Contract Template is designed for use in Australian jurisdictions where a vehicle owner wishes to sell their vehicle while providing financing to the buyer directly, rather than involving a third-party financial institution. This arrangement is particularly useful for private sellers, small dealerships, or situations where traditional financing may not be available or desired. The template includes provisions for compliance with Australian Consumer Law, state-specific motor vehicle regulations, and the Personal Property Securities Act 2009. It covers essential elements such as vehicle details, payment terms, security interests, warranties, and transfer of title requirements. The document is structured to protect both parties' interests while ensuring the transaction meets all legal requirements for owner-financed vehicle sales in Australia.

1. Parties: Identifies and provides full details of the Seller and Buyer, including names, addresses, and contact information

2. Background: Establishes the context of the sale, stating that the Seller owns the vehicle and wishes to sell it to the Buyer with owner financing

3. Definitions: Defines key terms used throughout the agreement including Vehicle, Purchase Price, Loan Amount, Security Interest, etc.

4. Sale and Purchase: Details the basic agreement to sell and purchase the vehicle, including the purchase price and basic terms

5. Financial Terms: Specifies the loan amount, interest rate, payment schedule, and total amount payable

6. Payment Terms: Details the payment methodology, due dates, and consequences of late payments

7. Security Interest: Establishes the Seller's security interest in the vehicle until full payment is received

8. Transfer of Title: Specifies when and how legal ownership will transfer, including registration requirements

9. Vehicle Condition and Warranties: Describes the vehicle's condition and any warranties or guarantees provided

10. Buyer's Obligations: Lists responsibilities including insurance, maintenance, and prohibited activities

11. Default and Remedies: Defines events of default and the Seller's remedies, including repossession rights

12. General Provisions: Standard legal clauses including governing law, notices, and amendment procedures