Document background
A Letter of Intent to Purchase Vehicle is commonly used in England and Wales as a preliminary step in vehicle acquisition transactions. This document is particularly useful when parties need to formalize their initial agreement before proceeding with a full purchase contract. It typically includes specific details about the vehicle, proposed purchase price, intended timeline, and any conditions that need to be met. While not legally binding, it demonstrates serious intent and can help secure financing or maintain exclusivity during negotiations. The document is particularly relevant in complex or high-value vehicle purchases where detailed due diligence is required.
