Owner Finance Car Sale Contract Template for Denmark

The Owner Finance Car Sale Contract is designed for situations where the seller of a vehicle provides direct financing to the buyer instead of the buyer obtaining financing from a bank or other financial institution. This arrangement is particularly useful in Denmark where private vehicle sales are common and parties may prefer direct financing arrangements. The document incorporates requirements from Danish contract law, consumer protection regulations, and vehicle registration requirements. It includes detailed specifications of the vehicle, purchase price, financing terms, payment schedules, security interests, and both parties' obligations. This type of contract is typically used when traditional financing options may not be available or when parties prefer a more direct arrangement, providing flexibility while ensuring legal compliance with Danish regulations regarding both vehicle sales and private lending.

1. Parties: Identification and contact details of the seller (owner-financier) and buyer, including their full legal names, addresses, and CPR numbers

2. Background: Brief context explaining the owner's wish to sell the vehicle and the buyer's desire to purchase it with owner financing

3. Definitions: Key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Finance Amount', 'Payment Schedule', etc.

4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, registration number, mileage, and current condition

5. Purchase Price and Financing Terms: Total purchase price, down payment, financed amount, interest rate, payment schedule, and total amount payable

6. Payment Terms: Specific details about payment methods, due dates, late payment penalties, and prepayment options

7. Transfer of Ownership: Conditions for the transfer of vehicle title, registration requirements, and retention of security interest

8. Seller Warranties and Representations: Seller's declarations regarding vehicle ownership, condition, and absence of liens

9. Buyer Obligations: Buyer's responsibilities including insurance requirements, vehicle maintenance, and usage restrictions

10. Default and Remedies: Consequences of payment default, repossession rights, and cure periods

11. Insurance Requirements: Mandatory insurance coverage, naming of interested parties, and consequences of non-compliance

12. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for dispute resolution

13. Signatures: Execution blocks for all parties, including date and place of signing