Car Loan Contract Template for Qatar

The Car Loan Contract is a fundamental document used in Qatar's banking and automotive sectors for financing vehicle purchases. It serves as the primary agreement between a financial institution and a borrower, establishing the legal framework for the loan facility and security arrangements over the financed vehicle. The document must comply with Qatar Central Bank regulations, including specific requirements for consumer lending, interest rate caps, and debt burden ratios. It is designed to protect both the lender's security interest in the vehicle and the borrower's rights under Qatar's consumer protection laws. The agreement includes essential provisions for vehicle registration, mandatory insurance, maintenance obligations, and default scenarios, making it suitable for both personal and commercial vehicle financing in Qatar.

1. Parties: Identification of the lender (financial institution) and borrower, including full legal names, addresses, and Qatar ID/CR numbers

2. Background: Brief context of the loan agreement, purpose of the loan, and acknowledgment of the borrower's loan application

3. Definitions: Definitions of key terms used throughout the agreement, including 'Vehicle', 'Loan Amount', 'Interest Rate', and 'Security'

4. Loan Details: Specific details of the loan including principal amount, interest rate, term, and total cost of credit

5. Vehicle Details: Comprehensive description of the vehicle being financed, including make, model, year, VIN, and registration details

6. Repayment Terms: Payment schedule, installment amounts, payment methods, and due dates

7. Security and Registration: Details of the security interest over the vehicle and registration requirements

8. Insurance Requirements: Mandatory insurance coverage requirements and obligations

9. Borrower's Representations: Borrower's warranties regarding their ability to enter into the agreement and information provided

10. Borrower's Obligations: Ongoing obligations including vehicle maintenance, usage restrictions, and notification requirements

11. Events of Default: Circumstances constituting default and consequences thereof

12. Termination: Conditions and process for early termination or loan completion

13. Governing Law: Confirmation of Qatar law as governing law and jurisdiction of Qatar courts