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Car (Vehicle) Downpayment Receipt Template

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A car (vehicle) downpayment receipt is a written record of the initial payment from a buyer to seller towards the purchase of a vehicle. A downpayment is a percentage of the total amount of the vehicle and is only made after a purchase contract has been agreed upon. While the contract will have information regarding the downpayment, the buyer would be wise to ask for a downpayment receipt. The receipt will have information that only pertains to the initial payment made towards the vehicle.

Vehicle Bill of Sale – The downpayment should occur at the time or after the bill of sale is signed by the seller.

How Much ($) Should a Downpayment be?.

Traditional loans that offer the lowest interest rates will require at least 20% of the vehicle’s purchase price as the downpayment. According to a 2019 Edmunds study, it showed that the average car buyer was paying 11.7% for new and used vehicle purchases. Therefore, finding the best car financing often depends on the availability of credit based on the buyer and the current market conditions.

How to Write

Download: Adobe PDF, Microsoft Word (.docx), Open Document Text (.odt)

1 – Save The Car (Vehicle) Down payment Receipt Template From This Page

There are a few options for obtaining the receipt displayed in the image. It is accessible as a PDF file or a word processing file such as Word or ODT. Three buttons will allow this access simply to locate the one you wish from the image’s caption area and click it with your mouse.

2 – Identify The Date And Buyer

The Payer who has submitted a down payment in exchange for the right to purchase the concerned vehicle. It will be important for this purpose that we document the exact calendar date when the discussed down payment was submitted. This content should be entered on the line attached to “Date.” Continue to the next blank line, attached to the “Buyer Name” label, then produce the legal name of the individual or entity who has made the down payment on this line. The Payer’s legal address will also need some definition. The two spaces available for this report are located directly below the “Buyer’s Name” and must be used to have the Payer’s “Street Address” and “City, State, Zip” recorded accordingly.

 

3 – Supplement The Down Payment Statement With Needed Content

The first section in the body of this receipt is titled “Down Payment Value” will contain a basic declaration statement that should be considered required language. You will need to directly apply this statement to the situation being discussed by entering some specific facts. Begin by typing in then numerically entering the payment amount this receipt documents on the first two blank lines (the first of which is attached to the phrase “…In The Amount Of.” Notice the three checkboxes below the sentence above. The first two will list the common methods of payment (“Check” and “Cash”) while the third will allow some freedom to define this method (“Other”). You may check one or all of these checkboxes so long as this is an accurate description of the way the Payer produced the down payment. Remember that if you choose “Other” you should give additional definition. For instance, if a credit card was used, mention the credit card type and number on the blank line.

 

4 – Record The Vehicle’s Specs

The second section, under the heading “Vehicle Information,” will give ample space and some basic structure to describe the vehicle that is being reserved for sale with this down payment. To this end, satisfy the information requested by the blank line labels “Vehicle Make,” “Model,” and “Year” with this vehicle’s details. In addition to the vehicle’s basic description, the full selling price should be considered a necessary detail for the purpose of this paperwork. Thus, write out the full dollar amount expected for the Vehicle Purchaser to be considered the Vehicle Owner on the blank line labeled “Vehicle Selling Price” then fill it in numerically to the blank line following the dollar sign in the next blank space.

 

5 – Identify The Vehicle’s Seller

The Seller of this vehicle must acknowledge the receipt of the down payment by signing and printing his or her full legal name on the lines labeled “Seller Signature” then “Name.” If the signature party is representing a business entity, then print the legal name of this entity on the “Name” lineĀ  After this, he or she must enter a valid business or mailing address.


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