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Deposit or intention letter

A Deposit or Intention Letter is used to reserve a vehicle for a buyer while the final purchase agreement is being prepared or negotiated.

Select Contract Type​

To begin generating a contract, select the Deposit / Intention Letter option.

What is a Deposit / Intention Letter?​

A Deposit or Intention Letter is used when a buyer wants to reserve a vehicle before completing the full purchase or leasing process.

Key Characteristics​

  • reserves the vehicle for a defined period
  • may include a refundable or non-refundable deposit
  • outlines buyer intent to purchase or lease
  • does not immediately transfer ownership

Use Cases​

A Deposit / Intention Letter is typically used when:

  • the buyer is still finalizing financing or payment arrangements
  • the vehicle must be reserved temporarily
  • negotiations are ongoing but both parties agree to proceed
  • the dealership wants formal written commitment before allocation

For more details about Purchase Contract, please refer to Purchase contract.

For more details about Lease Contract, please refer to Lease contract.

Car & Seller Details​

This step allows the user to enter and confirm information related to the vehicle being purchased and the seller providing it.

The information entered here will automatically appear in the final generated contract.

Vehicle Information​

The following vehicle details must be filled in:

  • Make — select the vehicle manufacturer (e.g., BMW, Audi, Toyota)
  • Model — available based on selected make
  • Year — year of manufacture
  • VIN Number — unique vehicle identification number
  • Price — agreed purchase amount of the vehicle

Seller Information​

The following information is required from the seller:

  • Seller Name
  • Seller Phone
  • Seller Address

Contract Date​

  • Specifies the date on which the agreement is being finalized.
  • This date will appear on the final signed contract.

Users can navigate using:

  • Back — returns to Step 1 (Select Contract Type)
  • Next — proceeds to Step 3 (Buyer Details)

Use Cases​

This section is typically used when:

  • the dealership purchases a vehicle from a private individual
  • vehicles are sourced for resale or internal stock
  • legal proof of acquisition is required for compliance or taxation

Users cannot proceed to the next step until all required fields are completed. The Next button remains disabled until the form is fully filled out.

Buyer Details​

This step collects information about the buyer who will be entering into the contract. The information entered here will appear in the final contract and is used to legally identify the purchasing party.

Buyer Information Fields​

The following required fields must be completed:

  • Full Name — buyer's legal full name
  • Phone Number — primary contact number
  • Email — buyer's email address
  • Street Address — residential or mailing address
  • City — city corresponding to the buyer's address
  • State — state/region selection
  • ZIP Code — postal code for the address

Purpose of This Step​

Collecting accurate buyer information ensures:

  • proper contractual identification
  • legal compliance for ownership transfer
  • future communication regarding the vehicle or after-sales support

Users may navigate using:

  • Back — return to Step 2 (Car & Seller Details)
  • Next — proceed to Step 4 (Purchase Terms)

Verification Reminder​

A note is displayed onscreen to remind the user to validate the information before proceeding:

Note: Recheck your buyer details before moving forward

The user cannot proceed to the next step until all mandatory fields are completed. The Next button remains disabled until the form is fully validated.

Purchase Terms​

This step defines the financial and legal terms associated with the vehicle deposit/intention letter. The information specified here will appear directly in the final deposit agreement.

Deposit Amount​

  • Represents the amount paid by the buyer to reserve the vehicle.
  • Will be applied according to the terms of the deposit agreement.
  • Must be entered before moving to the next step.

Hold Until Date​

  • Indicates how long the dealership agrees to hold the vehicle for the buyer.
  • After this date, the reservation may expire if the purchase is not completed.
  • Will be printed on the final deposit/intention letter.

Payment Method​

The user must select the method used to pay the deposit. Common examples include:

  • Bank transfer
  • Cash
  • Financing
  • Credit card
  • Check

Available options may vary depending on dealership configuration.

Additional Terms & Conditions​

A free text field allows the user to add custom conditions related to:

  • refund rules
  • timeline for completing the purchase
  • special conditions tied to financing approval
  • any other specific agreement between buyer and seller

If no additional terms are entered, only the default deposit terms will apply.

Default Deposit Terms​

The system automatically includes standard baseline deposit terms to protect both parties, such as:

  • The deposit secures the vehicle until the specified date.
  • The deposit is non-refundable if the buyer decides not to proceed with the purchase.
  • The deposit will be applied toward the purchase price if the sale is completed.
  • The seller agrees not to sell the vehicle to another party during the hold period.
  • If the seller cannot deliver the vehicle as agreed, the deposit will be refunded in full.

These baseline terms ensure clarity around how the deposit is handled and reduce potential disputes.

Users may navigate using:

  • Back — return to Step 3 (Buyer Details)
  • Next — proceed to Step 5 (Review & Generate)

Use Cases​

This section is typically used to:

  • secure a vehicle for a specific buyer
  • define how long the vehicle will be held
  • clarify when the deposit is refundable or non-refundable
  • formalize buyer intention before a full purchase contract is created

Users cannot proceed to the next step until all mandatory fields are completed. The Next button remains disabled until the form is fully validated.

Review & Generate​

This step allows the user to review all deposit agreement information before generating the final document. It consolidates all previously entered data into a structured summary.

This review ensures accuracy and prevents errors before the deposit agreement is legally produced.

Information Displayed​

The screen is divided into multiple sections summarizing key data:

Vehicle & Financing Information​

Shows core vehicle details including:

  • Make & Model
  • Year
  • Price
  • Vehicle Identification Number (VIN)
  • Contract Date
Seller Information​

Includes the seller's personal and contact details:

  • Name
  • Phone Number
  • Address
Buyer Information​

Includes the buyer's corresponding details:

  • Name
  • Phone Number
  • Email
  • Address
Contract Terms​

Displays deposit terms previously set, including:

  • Deposit Amount
  • Hold Until Date
  • Payment Method
  • Additional Terms (if specified)

Verification Purpose​

This step is intended to allow the user to:

  • verify legal identities (buyer & seller)
  • confirm vehicle details
  • review deposit amount and hold period
  • ensure contractual consistency before generation

Action Button — Generate Deposit Agreement​

Once verified, the user can click:

Generate Deposit Agreement→

This will automatically produce the deposit/intention letter using the confirmed data.

Users may navigate using:

  • Back — return to Step 4 (Deposit Terms)
  • Generate — proceed to Step 6 (Finalize)

Note: Users should verify all details before generating the deposit agreement. Once generated, changes may require a new agreement to be issued.

Finalize​

In this final step, the system generates the completed Deposit Agreement and prepares it for signature and distribution. The document is now considered legally formatted and ready for acknowledgment by both parties.

Contract Output​

The system displays the formatted Vehicle Deposit Agreement with the following information:

  • Buyer and Seller legal information
  • Vehicle details
  • Agreement date
  • Deposit amount and hold period
  • Deposit terms and conditions
  • Signature fields (Buyer & Seller)

This preview represents the final printed form of the deposit agreement.

Contract Generated​

A confirmation banner appears stating that the Deposit Agreement has been successfully generated and is ready for signing.

Download & Export Options​

Users may download the finalized agreement as a PDF via:

Download PDF

This allows the dealership to:

  • archive the agreement
  • share it with the buyer via email
  • provide it for internal or compliance records
  • physically print for signature

Next Steps​

Once generated, the Deposit Agreement is saved to the user's Documents dashboard. From here, the user may:

  • Download a copy for records
  • Send it to the buyer for electronic signature
  • Print and sign it physically
  • Access the agreement anytime from the Documents dashboard

These options ensure compatibility with both digital and traditional dealership workflows.

Legal & Operational Context​

This stage finalizes the deposit agreement, meaning:

  • All deposit terms are assumed confirmed
  • The document is ready for contractual execution
  • Any changes after generation may require issuing a new agreement

Completion of Workflow​

After this step, the deposit/intention letter creation process is considered complete and no further input is required from the user.