A Letter Of Intent To Sell Vehicle is commonly used in New Zealand as a preliminary step in vehicle sales transactions, particularly in situations where parties want to document their serious intention before proceeding with a full sale agreement. This document is useful when there are conditions that need to be met before the sale can be finalized, such as vehicle inspections or finance approval. It typically includes essential information about the vehicle, proposed price, and basic terms while complying with New Zealand's Motor Vehicle Sales Act 2003 and related legislation. While not as comprehensive as a full sale agreement, it serves as an important tool in establishing clear communication and understanding between parties, reducing the risk of misunderstandings in the subsequent transaction.
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1. Date and Parties: Full names and addresses of both the intended seller and buyer
2. Vehicle Details: Complete identification of the vehicle including make, model, year, VIN/chassis number, registration number, and current odometer reading
3. Purchase Price: The agreed or proposed purchase price and any deposit requirements
4. Intent Statement: Clear statement of intention to sell/purchase the vehicle subject to conditions
5. Basic Terms: Expected completion date, payment method, and delivery arrangements
6. Signatures: Space for both parties to sign and date the letter
1. Condition Precedents: Include when the sale is subject to specific conditions such as vehicle inspection or finance approval
2. Vehicle Condition Declaration: Include when there are known issues or specific conditions about the vehicle that need to be disclosed
3. Payment Schedule: Include when the payment will be made in installments rather than a single payment
4. Warranty Statement: Include when specific warranties are being offered or explicitly excluded
5. Time Limitation: Include when the offer needs to be accepted within a specific timeframe
1. Vehicle Photographs: Recent photographs showing the current condition of the vehicle
2. Vehicle History Report: Official vehicle history report showing ownership and accident history
3. Service History: Documentation of maintenance and service history
4. Current WOF/Registration: Copies of current Warrant of Fitness and registration documents
5. Existing Damage Report: Detailed list and photos of any existing damage or wear
Authors
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Transportation
Fleet Management
Retail
Agriculture
Construction
Logistics
Private Sales
Vehicle Leasing
Commercial Trading
Relevant Teams
Legal
Procurement
Operations
Administration
Sales
Compliance
Fleet Management
Asset Management
Finance
Risk Management
Relevant Roles
Fleet Manager
Procurement Officer
Sales Manager
Business Owner
Operations Manager
Administrative Assistant
Legal Counsel
Compliance Officer
Vehicle Sales Representative
Property Manager
Asset Manager
Business Administrator
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