In this form, the Buyer is assuming the indebtedness on a loan used to purchase a vehicle. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Conditional Delivery Agreement Form
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How to fill out Conditional Sales Agreement Of Automobile Between Individuals And Assumption Of Outstanding Indebtedness?
How to obtain professional legal documents that comply with your state regulations and create the Conditional Delivery Agreement Form without consulting a lawyer.
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A Conditional Sale (CS) agreement is similar to Hire Purchase (HP). These are different from ordinary credit agreements because under CS and HP agreements you do not own the car until you have paid off the agreement.
(3) A motor vehicle dealer shall pay off the agreed upon indebtedness on the trade-in vehicle within thirty (30) days after the dealer has received actual payment on the financing contract for the new motor vehicle purchase.
Conditional delivery (also known as «cash deliveryA» or A«yo-yo saleA») occurs when the purpose of the purchase or lease transaction is subject to additional approval. This A«additional approvalA» usually takes the form of acceptance of the financing terms offered by the potential lender.
This will be the case for up to 48 months from the date the policy was incepted, whilst the existing contract continues to be live. Customers in a 48 month PCP contract will not be covered if you defer the payment of your final Guaranteed Future Value.
How do I request an early settlement figure/pay off my finance early? If you would like to pay off your finance before your contracted end date you will need to request an early settlement figure from us, which can be done through your online account.