By signing this contract, I choose to purchase the motor vehicle on credit according to the terms of this contract. One contract is the car purchase or sales agreement where you contract with the dealer to purchase the vehicle.I'm new to car financing. What got me confused is that my bank wants purchase agreement or bill of sale before sending out a check to the dealer. Vehicles are required to be titled in the buyer's name within 30 days from the date of sale. A confusing and convoluted document that outlines the selling price, fees, taxes, your trade in, and more. The buyer's order includes detailed information about the car you are buying, including the VIN, color, make, model, options, features, and warranties. Watch this before you finance your next car (former dealer explains how to read a purchase contract)