Dealers-Borrowed-Vehicle-Agreement.pdf

BORROWED VEHICLE AGREEMENT

Made this ______ day of ______ Year ______ by and between ___________________________ hereinafter designated as “Dealer”

and the undersigned ________________________________________________ hereinafter designated as “Borrower”.

For, and in consideration of, the loan of that certain vehicle (more specifically hereinafter described by Dealer to Borrower), it is mutually agreed as

follows:

1. The subject vehicle is: Make: ___________________________ Year: ______ Model: _______________ Body Style: _________________

VIN: ________________________________________ Stock #: _______________ License Plate: _______________

2. Borrower agrees that he/she has examined and inspected the loaned vehicle and that it is in first class mechanical and overall condition.

3. Borrower agrees that he/she will not cause, or allow the subject vehicle to be loaned, rented, or driven by any person other than

Borrower, and is not to be driven beyond a radius of fifty (50) miles from Dealer’s place of business.

4. Borrower agrees that while this Agreement is in force he/she will preserve and protect the subject vehicle from loss or damage. Borrower

agrees to be liable for all costs of repairs regardless of fault. Borrower is specifically advised to be certain that his/her own automobile

insurance coverage will provide payment of such loss in the event of an accident.

5. Borrower agrees that he/she will not use said vehicle, cause or permit the same to be used in any manner whatsoever in violation or

contravention of any Municipal, County, State or Federal Law, ordinance or regulation.

6. Borrower agrees that in the event of any accident involving said loan vehicle he/she will, within twelve (12) hours following such

accident, furnish Dealer a full and complete report thereof, and will report such accident to the Department of Motor Vehicles of the

State within the time and in the manner prescribed under the provisions of the Vehicle Code of the State, or in the event of loss or

destruction of said vehicle or any of its accessories or of loss possessions thereof for inability to return same to Dealer on demand for any

reason whatsoever, Borrower will pay Dealer the market value of the vehicle and reasonable market value for loss of accessories unless

otherwise specified.

7. Borrower agrees that all expenses incident to the maintenance of the subject vehicle shall be borne solely to Borrower, and Borrower

further expressly agrees to hold harmless and indemnify Dealer against all claims and demands arising or resulting from Borrower's use,

storage of, and/or repairs to, the subject vehicle during the period of this Agreement.

8. Borrower covenants and agrees with the Dealer that he/she will forever hold harmless and indemnify said Dealer from any and all claims,

demands, causes of action, attorney’s fees and expenses of any nature arising, or alleged to arise from, the use, operation, maintenance,

or damage during said period. It is further agreed that in the event Dealer files any action filed by Borrower, or anyone claiming for

personal injuries, or property damage arising out of the use of the subject vehicle while in the actual or constructive possession of

Borrower, borrower agrees to pay the Dealer upon arising out of the use of the subject vehicle while in the actual or constructive

possession of Borrower, Borrower agrees to pay the Dealer upon demand any and all reasonable sums expended by it for attorney fees

and court costs.

9. The loaned vehicle shall be returned by Borrower to the Dealer at Dealer’s place of business within one day from date or prior thereto on

Dealer’s demand. Borrower also waives any claim which Dealer may hereafter arise for any and all damage he/she may hereafter

sustain by reason of any action, civil or criminal, which Dealer or Dealer’s Agents may take in connection with the Borrower’s use of

retention of the subject vehicle in the event Borrower’s failure to return said vehicle to Dealer as specified in this paragraph.

10. In the event Borrower has left another vehicle in possession of Dealer for the purpose of repairs or other service, and should the Dealer’s

borrowed vehicle be damaged while in the possession of Borrower, then the Dealer shall have lien upon and retain possession of such

other vehicle left in possession of Dealer by Borrower until all damage to the borrowed vehicle has been paid, and if not paid within ten

days after completion of repairs or other service, the Dealer may sell other vehicle and apply the proceeds to costs of repairs or other

service to the borrowed vehicle.

11. Borrower agrees that he/she will not operate the vehicle while under the influence of alcohol or narcotics.

12. Borrower agrees that he/she will, as his/her sole risk and expense, maintain Bodily Injury and Property Damage Liability Insurance

covering the Bodily Injury or Property Damage Liability Insurance during said period of time.

13. Borrower represents that he/she is now duly authorized to operate a vehicle as evidenced by and ownership of the subject vehicle while

this Agreement remains in force and effect, and to reimburse Dealer for any loss.

Operator’s License #: _______________________________________ State: _______________ Expiration Date: _________________

Insurance Company: ______________________________________________ Policy Number: __________________________________________

Expiration Date: _________________ Agent: ______________________________________________

Borrowed Vehicle Agreement 020121

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