Promissory Note for Vehicle Purchase | USA

Don't sell a vehicle to a buyer with the price to be paid over time unless you get them to sign this Promissory Note for Vehicle Purchase.

• This form is for vehicle sales in the United States only.
• The Promissory Note includes two interest clauses, one for annual interest at a specified rate and one for no interest. Use the one that best fits your situation.
• If the title is transferred to the buyer, the seller has a lien on the vehicle until the balance is paid in full.
• The buyer can prepay the outstanding balance at any time without paying a penalty.
• The seller can repossess the vehicle if the buyer fails to make the payments on time.
• Available in MS Word format.