Ƶ

Loan Vehicle Sale Agreement for Saudi Arabia

Loan Vehicle Sale Agreement Template for Saudi Arabia

A comprehensive legal document governed by Saudi Arabian law that combines both the sale of a vehicle and its financing arrangement in compliance with Sharia principles. The agreement details the terms of the vehicle purchase, including the purchase price, payment schedule, and financing structure, while ensuring compliance with Islamic finance requirements that prohibit conventional interest (riba). It incorporates necessary provisions for vehicle registration, transfer of ownership, insurance requirements, and maintenance obligations, all within the framework of Saudi Arabian commercial and traffic regulations.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Loan Vehicle Sale Agreement

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Loan Vehicle Sale Agreement?

The Loan Vehicle Sale Agreement is a specialized legal instrument used in Saudi Arabia when a vehicle purchase involves financing arrangements. This document is essential for transactions where the buyer requires financing to purchase a vehicle, but the arrangement must comply with Islamic finance principles under Saudi law. The agreement serves multiple purposes: it documents the sale of the vehicle, establishes the financing structure in accordance with Sharia principles, sets out payment terms, and ensures compliance with Saudi Arabian vehicle registration and transfer requirements. It's particularly important for automotive dealers, financial institutions, and buyers as it provides a comprehensive framework that protects all parties' interests while maintaining religious and regulatory compliance. The document includes detailed specifications of the vehicle, payment schedules, maintenance requirements, and insurance obligations, making it a crucial tool for both commercial and private vehicle sales with financing in Saudi Arabia.

What sections should be included in a Loan Vehicle Sale Agreement?

1. Parties: Identification of the Seller, Buyer/Borrower, and any Financial Institution involved

2. Background: Context of the sale and loan arrangement, including compliance with Sharia principles

3. Definitions: Key terms used throughout the agreement, including financial, vehicle-related, and regulatory terms

4. Vehicle Description: Detailed specification of the vehicle including make, model, year, VIN, color, and current condition

5. Purchase Price and Payment Terms: Total purchase price, down payment, and structure of the loan payments in compliance with Sharia principles

6. Transfer of Title and Registration: Process and conditions for transferring vehicle ownership and completing registration

7. Warranties and Representations: Seller's warranties regarding vehicle condition and Buyer's acknowledgments

8. Insurance Requirements: Mandatory insurance coverage requirements during the loan period

9. Default and Remedies: Consequences of payment default and available legal remedies

10. Termination: Conditions under which the agreement may be terminated and consequences

11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction for disputes

What sections are optional to include in a Loan Vehicle Sale Agreement?

1. Early Payment Provisions: Terms for early loan repayment, used when early payment options are offered

2. Vehicle Maintenance Requirements: Specific maintenance obligations, included when the loan terms require particular maintenance standards

3. Third-Party Guarantor: Terms related to guarantors, included when a guarantee is required for the loan

4. Cross-Border Usage: Provisions for using the vehicle outside Saudi Arabia, included for specific buyer circumstances

5. Trade-In Provisions: Terms related to any vehicle trade-in, included when part of the transaction

6. Special Purpose Usage: Additional terms for commercial or specific-purpose vehicles, included when not for personal use

What schedules should be included in a Loan Vehicle Sale Agreement?

1. Schedule 1 - Vehicle Specification: Detailed technical specifications and current condition report of the vehicle

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment amounts and due dates

3. Schedule 3 - Insurance Requirements: Specific insurance coverage requirements and approved providers

4. Schedule 4 - Vehicle Inspection Report: Pre-sale inspection report and documentation of existing condition

5. Schedule 5 - Required Documentation: List of documents required for vehicle transfer and registration

6. Appendix A - Maintenance Schedule: Manufacturer's recommended maintenance schedule and requirements

7. Appendix B - Warranty Terms: Detailed warranty terms and claim procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Saudi Arabia

Publisher

Ƶ

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions













































Clauses






























Relevant Industries

Automotive

Financial Services

Banking

Insurance

Transportation

Retail

Fleet Management

Logistics

Commercial Leasing

Islamic Finance

Relevant Teams

Legal

Finance

Sales

Compliance

Risk Management

Credit Administration

Operations

Commercial

Islamic Banking

Vehicle Administration

Documentation

Relevant Roles

Legal Counsel

Finance Manager

Automotive Sales Manager

Credit Manager

Compliance Officer

Islamic Finance Specialist

Fleet Manager

Contracts Administrator

Risk Manager

Commercial Director

Auto Finance Specialist

Sales Director

Treasury Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Loan Agreement Letter

A Sharia-compliant Loan Agreement Letter under Saudi Arabian law that establishes the terms and conditions of a loan while adhering to Islamic finance principles and Saudi banking regulations.

Download

Agreement To Repay Debt

A Sharia-compliant debt repayment agreement under Saudi Arabian law, documenting debt acknowledgment and repayment terms between creditor and debtor.

Download

Loan Restructuring Agreement

A Sharia-compliant agreement under Saudi Arabian law that modifies existing loan terms to accommodate changed circumstances while ensuring compliance with Islamic finance principles and local regulations.

Download

Term Loan Facility Agreement

Saudi Arabian law-governed term loan facility agreement compliant with Shariah principles, detailing lending terms and conditions under Islamic finance structures.

Download

Simple Mortgage Agreement

A Shariah-compliant mortgage agreement under Saudi Arabian law establishing security interest over real property with associated financing terms and conditions.

Download

Loan Agreement Between Companies

A Sharia-compliant corporate loan agreement for use between companies in Saudi Arabia, incorporating local legal requirements and Islamic finance principles.

Download

Loan Repayment Contract

A Sharia-compliant loan repayment agreement under Saudi Arabian law that structures the terms and conditions for loan repayment while ensuring compliance with Islamic financial principles.

Download

House Loan Contract

A Sharia-compliant house loan contract under Saudi Arabian law, establishing terms for home financing while adhering to Islamic banking principles and local regulations.

Download

Flexi Finance Loan Agreement

Shariah-compliant flexible financing agreement template for Saudi Arabian jurisdiction, incorporating Islamic banking principles and local regulatory requirements.

Download

Debt Agreement Contract

A Shariah-compliant debt agreement under Saudi Arabian law establishing terms and conditions for lending arrangements between parties.

Download

Contract For Land Purchase

A Saudi Arabian law-compliant contract for the purchase and sale of land property, incorporating all necessary terms and conditions under local regulations and Sharia principles.

Download

Deed Of Assumption Of Mortgage Car

A Saudi Arabian legal document facilitating the transfer of vehicle mortgage obligations between parties while ensuring Sharia compliance.

Download

Loan Novation Agreement

A Saudi Arabian law-governed agreement that transfers loan obligations between parties while ensuring Shariah compliance.

Download

Individual To Individual Loan Agreement

A Sharia-compliant individual-to-individual loan agreement template governed by Saudi Arabian law, facilitating private lending arrangements while ensuring compliance with Islamic financial principles.

Download

Loan Participation Agreement

A Saudi Arabian law-governed agreement establishing rights and obligations in a Sharia-compliant loan participation arrangement between financial institutions.

Download

Loan Agreement Term Sheet

A Saudi Arabian law-governed term sheet outlining key terms for Shariah-compliant financing arrangements, serving as the basis for detailed facility documentation.

Download

No Loan Agreement

A Sharia-compliant financial agreement under Saudi Arabian law that structures monetary arrangements without traditional lending elements.

Download

Mortgage Loan Contract

A Shariah-compliant mortgage loan agreement under Saudi Arabian law, establishing financing terms and property security arrangements in compliance with SAMA regulations.

Download

Securities Lending Agreement

A Saudi Arabian law-governed agreement establishing terms for securities lending transactions, incorporating CMA regulations and Shariah compliance requirements.

Download

Money Repayment Agreement

A Sharia-compliant agreement under Saudi Arabian law establishing terms for monetary debt repayment between parties.

Download

Loan Surety Agreement

A Sharia-compliant guarantee agreement under Saudi Arabian law where a guarantor commits to fulfilling a borrower's obligations to a lender in case of default.

Download

Loan Reinstatement Agreement

A Sharia-compliant agreement under Saudi Arabian law that reinstates a defaulted loan, establishing new payment terms and conditions between lender and borrower.

Download

Lending Contract

A Sharia-compliant lending agreement under Saudi Arabian law, establishing terms for financial transactions in accordance with Islamic finance principles and local regulations.

Download

Lending Agreement

A Sharia-compliant financing agreement under Saudi Arabian law that establishes terms and conditions for lending between parties.

Download

Lenders Agreement

A Saudi Arabian law-governed financing agreement establishing Shariah-compliant lending terms and conditions between financial institutions and borrowers.

Download

Lender And Borrower Agreement

A Sharia-compliant financing agreement under Saudi Arabian law establishing terms and conditions between lender and borrower, including profit rates, security, and payment terms.

Download

Home Loan Agreement

A Sharia-compliant home financing agreement under Saudi Arabian law, detailing terms, conditions, and security arrangements for property purchase financing.

Download

Finance Agreement

A Sharia-compliant financing agreement under Saudi Arabian law establishing terms for Islamic financing arrangements and regulatory compliance.

Download

Forbearance Agreement Commercial Loan

A Shariah-compliant agreement under Saudi Arabian law that temporarily suspends a lender's enforcement rights against a defaulting commercial borrower while establishing new compliance terms.

Download

Education Loan Agreement

A Sharia-compliant Education Loan Agreement under Saudi Arabian law, establishing terms for educational financing between a financial institution and student borrower.

Download

Debt Agreement Letter

A Sharia-compliant Debt Agreement Letter under Saudi Arabian law that documents debt obligations and repayment terms between parties.

Download

Credit Agreement Contract

A Shariah-compliant credit agreement under Saudi Arabian law establishing terms for credit facilities between lender and borrower.

Download

Contract Of Loan With Real Estate Mortgage

A Sharia-compliant loan agreement secured by real estate mortgage under Saudi Arabian law, combining financing terms with property security arrangements.

Download

Assumption Of Mortgage Form

A Saudi Arabian legal document that transfers mortgage obligations from an existing borrower to a new party, compliant with local laws and Sharia principles.

Download

Mortgage Note Purchase Agreement

A Sharia-compliant agreement for the purchase and sale of mortgage notes in Saudi Arabia, conforming to Saudi banking regulations and Islamic finance principles.

Download

Personal Loan Agreement With Notary

A notarized personal loan agreement under Saudi Arabian law, establishing Sharia-compliant terms between a lender and borrower with official authentication.

Download

Loan Against Rent Agreement

A Saudi Arabian Shariah-compliant agreement facilitating property owner financing secured against rental income streams.

Download

Credit Agreement Between Two Parties

A Shariah-compliant credit agreement under Saudi Arabian law establishing terms for credit extension between two parties.

Download

Installment Loan Contract

A Sharia-compliant installment loan agreement under Saudi Arabian law, establishing terms for financing and repayment in accordance with Islamic principles and Saudi banking regulations.

Download

Agreement For Mortgage Of Property

A Sharia-compliant property mortgage agreement under Saudi Arabian law, establishing security interest over real property while adhering to Islamic finance principles and local regulations.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it