Common use of Financed Vehicle Description Clause in Contracts

Financed Vehicle Description. Observe the Contract and confirm the description of the Financed Vehicle, including the vehicle identification number, year, make and model, new, used or demo, matches the vehicle information for the Receivable in Ford Credit's receivables systems. Observe each Ancillary Document, if any, and confirm any information describing the Financed Vehicle matches the corresponding information in the Contract. Test 3.3(f) – 3: Net Trade Information Observe the Contract and confirm the net trade-in amount, if any, equals the difference between the value of the trade-in vehicle and the amount the Obligor owes for the trade-in. Test 3.3(f) – 4: Fees and Additional Products Observe the fees, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm they do not exceed the limits stated in the applicable Ford Credit procedure. Observe the amount for each additional product, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm each amount does not exceed the advance cap amount stated in the applicable Ford Credit procedure. Test 3.3(f) – 5: Contract Signed Observe the Contract and confirm signatures are present for the Dealer and the Obligor. Test 3.3(f) – 6: Insurance Signatures Observe the insurance section of the Contract and confirm that no insurance products were purchased or, if so, confirm signatures are present for the Obligor in the insurance section of the Contract. Test 3.3

Appears in 17 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-D), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-C), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-C)

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Financed Vehicle Description. Observe the Contract and confirm the description of the Financed Vehicle, including the vehicle identification number, year, make and model, new, used or demodemo and use, matches the vehicle information for the Receivable in Ford Credit's ’s receivables systems. Observe each Ancillary Document, if any, and confirm any information describing the Financed Vehicle matches the corresponding information in the Contract. Test 3.3(f) – 3: Net Trade Information Observe the Contract and confirm the net trade-in amount, if any, equals the difference between the value of the trade-in vehicle and the amount the Obligor owes for the trade-in. Test 3.3(f) – 4: Fees and Additional Products Observe the fees, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm they do not exceed the limits stated in the applicable Ford Credit procedure. Observe the amount for each additional product, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm each amount does not exceed the advance cap amount stated in the applicable Ford Credit procedure. Test 3.3(f) – 5: Contract Signed Observe the Contract and confirm signatures are present for the Dealer and the Obligor. Test 3.3(f) – 6: Insurance Signatures Observe the insurance section of the Contract and confirm that no insurance products were purchased or, if so, confirm signatures are present for the Obligor in the insurance section of the Contract. Test 3.3

Appears in 4 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2018-A), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2018-A), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2017-B)

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Financed Vehicle Description. Observe the Contract and confirm the description of the Financed Vehicle, including the vehicle identification number, year, make and model, new, used or demo, matches the vehicle information for the Receivable in Ford Credit's ’s receivables systems. Observe each Ancillary Document, if any, and confirm any information describing the Financed Vehicle matches the corresponding information in the Contract. Test 3.3(f) – 3: Net Trade Information Observe the Contract and confirm the net trade-in amount, if any, equals the difference between the value of the trade-in vehicle and the amount the Obligor owes for the trade-in. Test 3.3(f) – 4: Fees and Additional Products Observe the fees, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm they do not exceed the limits stated in the applicable Ford Credit procedure. Observe the amount for each additional product, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm each amount does not exceed the advance cap amount stated in the applicable Ford Credit procedure. Test 3.3(f) – 5: Contract Signed Observe the Contract and confirm signatures are present for the Dealer and the Obligor. Test 3.3(f) – 6: Insurance Signatures Observe the insurance section of the Contract and confirm that no insurance products were purchased or, if so, confirm signatures are present for the Obligor in the insurance section of the Contract. Test 3.3

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2020-C), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2020-C)

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