Vehicle Loan Agreement

VEHICLE LOAN AGREEMENT This Agreement is executed on [loan_date] between [lender_name] (hereinafter "the Lender") and [borrower_name] (hereinafter "the Borrower"), for financing the purchase of: [vehicle_details]. 1. LOAN The Lender has advanced Rs. [loan_amount] to the Borrower at [interest_rate]% per annum, repayable over [tenure_months] months. 2. HYPOTHECATION The vehicle described above shall stand hypothecated to the Lender as security until the loan is fully repaid, and the Borrower shall not sell, transfer, or further encumber it without the Lender's consent. 3. DEFAULT In the event of default, the Lender shall be entitled to repossess the vehicle in accordance with applicable law. IN WITNESS WHEREOF the parties have executed this Agreement on the date first written above. LENDER BORROWER [lender_name] [borrower_name]