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The Car Loan Agreement is a vital legal instrument used in Ireland when a lender provides financing for a vehicle purchase. This document is essential for both commercial and consumer vehicle financing transactions, establishing the legal framework for the loan while ensuring compliance with Irish financial regulations and consumer protection laws. The agreement typically includes detailed provisions about the loan amount, interest rates, repayment schedule, and security arrangements, along with specific requirements for vehicle insurance and maintenance. It's designed to protect both the lender's security interest in the vehicle and the borrower's rights under Irish consumer credit legislation. The document is particularly relevant when financial institutions or specialized vehicle finance companies provide credit to individuals or businesses for vehicle purchases, and it must comply with the Consumer Credit Act 1995 and other relevant Irish financial services regulations.

1. Parties: Identifies and defines the Lender and the Borrower with their full legal names and addresses

2. Background: Explains the context of the loan agreement, including the Borrower's request for financing and the Lender's agreement to provide it

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Loan Amount and Purpose: Specifies the principal amount of the loan and confirms it is for the purpose of purchasing the specified vehicle

5. Interest Rate and Charges: Details the applicable interest rate, whether fixed or variable, and any other charges or fees

6. Repayment Terms: Specifies the repayment schedule, installment amounts, and duration of the loan

7. Security Arrangements: Details the security interest over the vehicle and registration requirements

8. Vehicle Details: Specifies the vehicle's make, model, year, VIN, and other identifying information

9. Insurance Requirements: Outlines mandatory insurance coverage for the vehicle

10. Borrower's Representations and Warranties: States the Borrower's confirmations regarding their ability to enter into and perform the agreement

11. Borrower's Covenants: Lists the Borrower's ongoing obligations regarding the vehicle and loan

12. Events of Default: Defines circumstances constituting default and the Lender's remedies

13. Early Repayment: Explains terms and conditions for early loan repayment

14. Notices: Specifies how formal communications between parties should be made

15. Governing Law and Jurisdiction: Confirms Irish law governs the agreement and jurisdiction for disputes