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The Vehicle Sales Contract With Seller Financing is a specialized agreement used in Canadian jurisdictions when a vehicle seller provides direct financing to the buyer instead of requiring third-party financing through a bank or credit union. This document is essential for private sellers, dealerships, and commercial vehicle vendors who offer in-house financing options. It combines elements of a traditional vehicle sale agreement with comprehensive financing terms, including interest rates, payment schedules, and security interests. The contract must comply with provincial consumer protection laws, the Personal Property Security Act, and federal financing regulations. It includes mandatory disclosures about the vehicle's condition, cost of borrowing, and the buyer's rights and obligations. This type of agreement is particularly useful for sellers looking to offer flexible financing options while maintaining security interest in the vehicle until full payment is received.

1. Parties: Identifies and provides full legal names and addresses of the seller and buyer

2. Background: Brief context stating the seller's ownership of the vehicle and buyer's desire to purchase with seller financing

3. Definitions: Defines key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Finance Amount', etc.

4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, color, and current odometer reading

5. Purchase Price and Payment: States the total purchase price, down payment, and financing amount

6. Financing Terms: Details of the financing including interest rate, payment schedule, term length, and total cost of borrowing

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

8. Transfer of Title: Terms regarding the transfer of vehicle ownership and registration requirements

9. Representations and Warranties: Seller's warranties about the vehicle condition and buyer's acknowledgments

10. Insurance Requirements: Specifies required insurance coverage during the financing period

11. Default and Remedies: Defines events of default and outlines available remedies including repossession rights

12. Notice Requirements: Specifies how and where formal notices must be delivered

13. Governing Law: Specifies that the agreement is governed by Canadian law and the applicable province

14. Entire Agreement: Standard clause confirming this document represents the complete agreement between parties

15. Execution: Signature block for all parties and witnesses