Car Sale Payment Agreement Template for Nigeria

1. Installment Payment Terms: Detailed terms for installment payments, including payment schedule and late payment penalties - used when purchase is not made in full at time of sale

2. Bank Financing Provisions: Specific provisions related to bank financing - included when buyer is obtaining bank financing

3. Insurance Requirements: Requirements for insurance coverage during payment period - typically included for installment sales

4. Vehicle Maintenance Requirements: Maintenance obligations during payment period - included for installment sales where vehicle serves as collateral

5. Security Interest: Details of seller's security interest in vehicle - used in installment sales

6. Delivery Terms: Specific arrangements for vehicle delivery - included when delivery is not immediate

7. After-Sale Services: Terms of any after-sale services or warranties - included when additional services are part of the sale

1. Schedule A - Vehicle Details: Comprehensive details of the vehicle including specifications, features, and known defects

2. Schedule B - Payment Schedule: Detailed payment schedule showing all payment dates and amounts

3. Schedule C - Vehicle Inspection Report: Professional inspection report detailing vehicle condition at time of sale

4. Schedule D - Vehicle Documents: List of all vehicle documents being transferred (registration, insurance, maintenance records, etc.)

5. Appendix 1 - Vehicle Photographs: Dated photographs showing vehicle condition at time of sale

6. Appendix 2 - Transfer Documents: Copies of required vehicle transfer documents under Nigerian law