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The Auto Finance Contract is a fundamental document used in Saudi Arabia when a customer seeks financing for vehicle purchase through a licensed finance company. It serves as the primary agreement governing the financing relationship, incorporating both the requirements of the Saudi Central Bank (SAMA) and Islamic finance principles. The document is essential for any vehicle financing transaction in Saudi Arabia, whether for personal or commercial use, and must comply with the Finance Companies Control Law and its Implementing Regulations. It includes comprehensive details about the vehicle, financing terms, payment schedule, security arrangements, and obligations of all parties. The contract is structured to protect both the finance provider's security interest and the customer's rights while ensuring all terms are Shariah-compliant and meet regulatory requirements for consumer finance in Saudi Arabia.

1. Parties: Identification of the Finance Company and the Customer/Borrower with full legal names and details

2. Background: Context of the agreement including the Customer's request for finance and the Finance Company's agreement to provide it

3. Definitions: Definitions of key terms used throughout the agreement, including financial terms and technical references

4. Vehicle Details: Comprehensive description of the financed vehicle including make, model, year, VIN, and specifications

5. Finance Terms: Core financial terms including principal amount, profit rate, total cost, payment period, and payment amounts

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of early or late payment

7. Security Interest: Creation and terms of the security interest over the vehicle

8. Customer Obligations: Customer's responsibilities regarding vehicle maintenance, insurance, and use restrictions

9. Finance Company Rights: Rights of the finance company including inspection rights and enforcement measures

10. Insurance Requirements: Mandatory insurance coverage and terms

11. Events of Default: Circumstances constituting default and consequences

12. Termination: Conditions and process for early termination or completion of the contract

13. Representations and Warranties: Standard declarations by both parties regarding capacity and authority

14. General Provisions: Standard contractual terms including notices, amendments, and governing law

15. Execution: Signature blocks and execution formalities