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The Owner Finance Car Sale Contract is a specialized legal instrument used in Pakistan when a vehicle owner wishes to sell their vehicle while providing direct financing to the buyer, bypassing traditional lending institutions. This arrangement is particularly useful when buyers have limited access to conventional auto loans or prefer direct dealings with the seller. The document incorporates essential elements required under Pakistani law, including detailed vehicle specifications, payment terms, security arrangements, and ownership transfer conditions. It ensures compliance with the Contract Act 1872, Motor Vehicles Ordinance 1965, and other relevant Pakistani legislation while providing a structured framework for the entire transaction from initial sale through to final payment and title transfer.

1. Parties: Identification of the Seller/Financier and the Buyer with complete details including CNIC numbers

2. Background: Context of the sale and finance arrangement, establishing the owner's right to sell and buyer's interest to purchase with financing

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

4. Sale and Purchase: Core terms of the vehicle sale including the total purchase price and confirmation of sale

5. Finance Terms: Details of the financing arrangement including principal amount, interest rate, payment schedule

6. Payment Terms: Specifics of payment including down payment, monthly installments, payment methods and dates

7. Vehicle Details and Condition: Comprehensive description of the vehicle and its current condition

8. Title and Registration: Terms regarding transfer of title, registration process, and related documentation

9. Security Arrangements: Details of security measures including retention of title until full payment

10. Default and Remedies: Consequences of payment default and available remedies

11. Insurance Requirements: Mandatory insurance coverage requirements during the finance period

12. Representations and Warranties: Statements and guarantees by both parties regarding the vehicle and their capacity to enter the agreement

13. Governing Law: Specification of Pakistani law as governing law and relevant jurisdiction

14. Notices: Process for sending formal communications between parties

15. Execution: Signature blocks and execution requirements