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The Vehicle Deposit Agreement is essential in New Zealand's automotive sales process, used when a buyer wishes to secure a vehicle purchase by paying a deposit. This document is particularly relevant for both private sales and dealership transactions, protecting both parties' interests during the period between deposit payment and purchase completion. It includes critical details such as vehicle specifications, deposit amount, purchase price, completion timeframe, and conditions for deposit refund or forfeiture. The agreement ensures compliance with New Zealand's consumer protection and motor vehicle sales legislation, making it suitable for various transaction types from private sales to commercial fleet purchases. Common scenarios for its use include securing a vehicle while arranging finance, during pre-purchase inspections, or when the vehicle requires preparation before delivery.

1. Parties: Identifies and provides full details of the buyer (depositor) and seller, including legal names, addresses, and contact information

2. Background: Explains the context of the agreement - that the buyer wishes to purchase the vehicle and provide a deposit to secure it

3. Definitions: Defines key terms used throughout the agreement including 'Deposit', 'Vehicle', 'Purchase Price', and 'Completion Date'

4. Vehicle Details: Specifies the vehicle's make, model, year, VIN, registration number, and current odometer reading

5. Deposit Terms: States the deposit amount, payment method, and when it must be paid

6. Purchase Price: Specifies the total purchase price and how the deposit will be applied to it

7. Completion Date: Sets the deadline for completing the full purchase transaction

8. Deposit Status: Explains when and how the deposit becomes non-refundable or will be refunded

9. Seller's Obligations: Outlines the seller's responsibilities including holding the vehicle and maintaining its condition

10. Buyer's Obligations: Details the buyer's responsibilities including completing the purchase by the specified date

11. Termination: Describes circumstances under which the agreement can be terminated and consequences

12. General Provisions: Standard contractual terms including governing law, entire agreement, and amendments