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The Vehicle Purchase Agreement With Down Payment is an essential legal document used in the Philippines for both private and commercial vehicle sales transactions where the purchase price is paid partially upfront with the remainder in installments. This agreement is crucial for protecting the interests of both parties in vehicle sales transactions and ensures compliance with Philippine regulations, including the Civil Code, Consumer Act, and Land Transportation Office requirements. The document includes comprehensive details about the vehicle, payment terms, warranties, and transfer of ownership conditions. It's particularly important in the Philippine context where vehicle financing is common and regulatory compliance is strictly enforced. The agreement can be used for various types of vehicles, from personal cars to commercial fleet purchases, and can be adapted for both individual and corporate transactions.

1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and contact information

2. Background: Brief context of the transaction, establishing the Seller's ownership and right to sell, and Buyer's intention to purchase

3. Definitions: Definitions of key terms used throughout the agreement including 'Vehicle', 'Down Payment', 'Purchase Price', 'Delivery Date'

4. Vehicle Description: Detailed description of the vehicle including make, model, year, color, engine number, chassis number, plate number, and mileage

5. Purchase Price: Total purchase price, breakdown of costs including taxes and registration fees

6. Down Payment Terms: Amount of down payment, payment method, due date, and acknowledgment of receipt

7. Balance Payment Terms: Schedule of remaining payments, payment methods, due dates, and consequences of default

8. Delivery and Transfer of Ownership: Terms and conditions for vehicle delivery, transfer of registration, and documentation requirements

9. Warranties and Representations: Seller's warranties regarding vehicle condition, ownership, and encumbrances

10. Risk and Insurance: Transfer of risk, insurance requirements during payment period

11. Default and Remedies: Consequences of default by either party and available remedies

12. Governing Law: Specification of Philippine law as governing law and jurisdiction for disputes

13. Execution: Signature blocks for parties and witnesses