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Car dealerships use a car purchase agreement, or car sale agreement, to finalize a sale. These contracts serve as a sales agreement between the buyer and seller. If you are purchasing a used vehicle from a private seller, the seller may ask you to sign a bill of sale, which is a very simplified form of car purchase agreement.
A car lease is a method of obtaining a new or used car that involves only paying for a portion of the carâs actual cost as opposed to having to pay for the car in its entirety.So when you lease a new car you are only paying for the portion of the car you are using over the number of years in your lease agreement.here is always the option of purchasing your leased vehicle at the end of your lease but often times the projected residual value in your agreement is set in stone and you wonât have the option to negotiate on the price of what is now essentially a used car.