Contract for Sale and Security Agreement for Sale of Vehicle With Precomputed or Add-On Interest to Be Paid - Nevada

Contract for Sale and Security Agreement for Sale of Vehicle With Precomputed or Add-On Interest to Be Paid - Nevada

Contract for Sale and Security Agreement for Sale of Vehicle With Precomputed or Add-On Interest to Be Paid is a legal document that was released by the Nevada Department of Business and Industry - a government authority operating within Nevada.

FAQ

Q: What is a Contract for Sale and Security Agreement for Sale of Vehicle?
A: It is a legal document used for the sale of a vehicle that includes a security agreement and specifies the payment terms.

Q: What is precomputed interest?
A: Precomputed interest means that the interest is calculated and included in the total amount financed at the beginning of the loan.

Q: What is add-on interest?
A: Add-on interest means that the interest is calculated based on the original amount financed and added to the total amount to be paid.

Q: What is a security agreement?
A: A security agreement is a legal document that gives the lender a security interest in the vehicle until the loan is fully paid.

Q: What are the payment terms in the contract?
A: The contract specifies the amount of the monthly payments, the duration of the loan, and any additional fees or charges that may apply.

Q: Is the contract enforceable in Nevada?
A: Yes, the contract is legally binding and enforceable in Nevada.

Q: What happens if the borrower fails to make the payments?
A: If the borrower fails to make the payments as specified in the contract, the lender has the right to repossess the vehicle.

Q: Can the contract be modified or cancelled?
A: The contract can only be modified or cancelled with the agreement of both parties or as allowed by law.

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Form Details:

  • Released on October 1, 2012;
  • The latest edition currently provided by the Nevada Department of Business and Industry;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Nevada Department of Business and Industry.

Download Contract for Sale and Security Agreement for Sale of Vehicle With Precomputed or Add-On Interest to Be Paid - Nevada

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