The Car Sold As Is Contract is essential for vehicle transactions in Malaysia where the seller wishes to transfer ownership without providing warranties or guarantees beyond basic title representations. This document type is commonly used in private sales, by used car dealers, and in corporate fleet disposals. It incorporates crucial elements required by Malaysian law, including compliance with the Road Transport Act 1987 and the Contracts Act 1950. The contract provides comprehensive protection for sellers while ensuring transparent disclosure to buyers about the vehicle's condition. It's particularly important when selling older vehicles, vehicles with known issues, or in situations where the seller wants to explicitly limit post-sale liability. The document includes detailed vehicle identification, price and payment terms, explicit "as is" disclaimers, and ownership transfer procedures.
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1. Parties: Identification of the seller and buyer with full legal names, identification numbers, and addresses
2. Background: Brief context of the sale and statement of intent to sell/purchase the vehicle
3. Definitions: Key terms used in the agreement including 'As Is', 'Vehicle', 'Purchase Price', and other relevant terms
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, registration number, chassis number, and engine number
5. Purchase Price and Payment: Agreed purchase price, payment terms, and method of payment
6. 'As Is' Condition and Disclaimer: Clear statement that the vehicle is sold 'as is' with all faults and explicit waiver of warranties
7. Seller's Representations: Basic representations about vehicle ownership and authority to sell
8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition
9. Transfer of Ownership: Process and obligations regarding the transfer of vehicle ownership
10. Governing Law: Specification that Malaysian law governs the agreement
11. Execution: Signature blocks and witness requirements
1. Deposit Terms: Used when the sale involves a deposit payment structure
2. Known Defects: Optional detailed disclosure of known vehicle issues, recommended for additional legal protection
3. Collection and Delivery: Include when specific arrangements for vehicle handover need to be documented
4. Outstanding Loans: Required if there are existing loans to be settled as part of the sale
5. Road Tax and Insurance: Include when addressing the transfer or pro-rating of road tax and insurance
6. Dispute Resolution: Optional detailed dispute resolution process beyond basic governing law clause
1. Schedule 1 - Vehicle Inspection Report: Detailed report of vehicle condition at time of sale, including photographs
2. Schedule 2 - Vehicle Documentation: List of all documentation provided (registration card, service history, previous insurance certificates)
3. Schedule 3 - Payment Schedule: If payment is structured in installments or involves deposits
4. Appendix A - Vehicle Photographs: Dated photographs of vehicle condition and any damage or defects
5. Appendix B - Maintenance Records: Copies of service history and maintenance records if available
Authors
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Used Car Dealers
Vehicle Fleet Management
Transportation
Insurance
Legal Services
Banking and Finance
Vehicle Leasing
Relevant Teams
Legal
Operations
Sales
Compliance
Risk Management
Fleet Management
Finance
Administrative
Business Development
Document Control
Relevant Roles
Legal Counsel
Fleet Manager
Used Car Sales Manager
Compliance Officer
Risk Manager
Vehicle Operations Manager
Contract Administrator
Business Development Manager
Automotive Sales Executive
Corporate Secretary
Finance Manager
Insurance Coordinator
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