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The Vehicle Sales Agreement Payment Plan is essential for transactions involving vehicle purchases with installment payments in Singapore. It ensures compliance with local regulations while protecting both parties' interests. This document is particularly relevant when buyers prefer or require structured payment arrangements rather than full upfront payment. The agreement includes comprehensive details about the vehicle, payment terms, ownership transfer conditions, and warranties, all aligned with Singapore's legal framework including the Hire Purchase Act and Road Traffic Act. It's commonly used by dealerships, private sellers, and corporate entities engaged in vehicle sales.
