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1. Parties: Identifies and provides full legal names and addresses of the lender and borrower
2. Background: Establishes the context of the loan agreement, including the purpose of the loan for vehicle purchase
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Loan Details: Specifies the principal amount, interest rate, term of the loan, and total amount to be repaid
5. Vehicle Information: Details of the vehicle being financed including make, model, year, VIN, and condition
6. Payment Terms: Specifies payment amount, frequency, due dates, and acceptable payment methods
7. Security Interest: Establishes the vehicle as collateral for the loan and the lender's security interest
8. Insurance Requirements: Specifies required insurance coverage for the vehicle and naming of lender as loss payee
9. Default and Remedies: Defines events of default and outlines the lender's rights and remedies upon default
10. Representations and Warranties: Statements of fact by the borrower regarding their ability to enter into and perform the agreement
11. Notices: Specifies how and where formal communications between parties must be delivered
12. Governing Law: Establishes that Canadian law governs the agreement and specifies the applicable province
13. Signatures: Space for dated signatures of all parties, with witness requirements if applicable
1. Co-Signer Provisions: Include when a co-signer is guaranteeing the loan, detailing their obligations and liability
2. Early Repayment Terms: Include if allowing early loan repayment, specifying any penalties or fee calculations
3. Vehicle Use Restrictions: Include if placing specific restrictions on vehicle use or requiring lender approval for modifications
4. Death or Incapacity: Include provisions for handling the loan in case of death or incapacity of either party
5. Sale or Transfer: Include if allowing or restricting the borrower's right to sell or transfer the vehicle
6. Cross-Border Use: Include if the vehicle may be used across provincial or international borders
7. Maintenance Requirements: Include specific vehicle maintenance obligations beyond normal care
1. Schedule A - Vehicle Description: Detailed description of the vehicle including photographs, condition report, and accessories
2. Schedule B - Payment Schedule: Amortization table showing all payments, principal and interest breakdown, and payment dates
3. Schedule C - Insurance Requirements: Detailed specifications of required insurance coverage types and amounts
4. Appendix 1 - Vehicle Registration: Copy of current vehicle registration and ownership documentation
5. Appendix 2 - Vehicle Inspection Report: Recent vehicle inspection report if required by agreement
6. Appendix 3 - Credit Check Results: Credit check results if performed as part of loan approval process
Financial Services
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Transportation
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Credit Operations
Risk Management
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Document Processing
Compliance
Consumer Protection
Personal Banking
Contract Administration
Private Lender
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Financial Advisor
Loan Officer
Credit Analyst
Collections Manager
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