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The Owner Finance Car Sale Contract is designed for situations where a vehicle seller in Indonesia wishes to provide direct financing to the buyer without involving traditional financial institutions. This arrangement is particularly useful for private sellers, small dealerships, or businesses looking to offer in-house financing options. The document incorporates all necessary elements required under Indonesian law, including compliance with the Civil Code (KUHPerdata), Law No. 42 of 1999 on Fiduciary Security, and relevant vehicle registration regulations. It protects both parties' interests by clearly defining payment terms, ownership rights, security interests, and remedies in case of default, while ensuring all fiduciary security registrations and vehicle ownership transfer requirements are properly addressed.

1. Parties: Identification of the Seller/Financier and the Buyer/Borrower with complete legal names and addresses

2. Background: Context of the transaction, establishing that this is both a sale and financing arrangement

3. Definitions: Key terms used throughout the agreement including Payment Terms, Principal Amount, Interest Rate, etc.

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

5. Purchase Price and Payment Terms: Total purchase price, down payment, financing amount, interest rate, payment schedule, and payment methods

6. Transfer of Title and Ownership: Terms regarding when and how legal title transfers, including retention of title until full payment

7. Security Interest: Creation of security interest in the vehicle and fiduciary registration requirements under Indonesian law

8. Insurance Requirements: Mandatory insurance coverage requirements and responsibilities for maintaining insurance

9. Maintenance and Use: Buyer's obligations regarding vehicle maintenance and permitted use during the financing period

10. Default and Remedies: Events of default and seller's remedies including repossession rights under Indonesian law

11. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and dispute resolution mechanisms