Nearly 100 million different types of vehicles, for utility as well as recreation, are bought and sold every year across the globe, these transactions take place through several different processes, for example, dealerships, marketplaces, and private transactions.

Private transactions account for a third of vehicle sales. Completing these transactions with an unknown party are difficult to manage, especially without a tool to manage legal and payment risks.

Contract Keepers Components of a Successful Vehicle Transaction:

Assessment of the Condition of the Vehicle

• Improve the transparency associated with a seller self-describing the condition of the vehicle.
• Documented vehicle inspections, titles searches included in contract.
• Sellers directly input pertinent vehicle details to provide a transparent representation of the vehicle’s value. Required to specify the odometer reading, make, model, VIN (vehicle identification number).

The Exchange of Funds Between the Transacting Parties

• Escrow for payments in which buyers and sellers can be confident in quality satisfaction and on time payments.
• Eliminate in person payments and allow for safe payment plans.
• Falsifying payment confirmation or ghosting payment plan obligations are deterred by verifying payments and financial information of both parties.

The Terms of Transferring Ownership

• Ability to customize terms of the transaction gives both parties the flexibility to make an amicable, understandable contract both sides are comfortable with.
• Bill of sale and escrow documents are automatically generated, providing legal proof of the sale.
• Direct evidence of fraudulent behavior, as well as sharing legitimate personal information, increases risks for sellers attempting to pass off vehicles in poor condition to unwitting buyers.