The vehicle sales agreement is between a seller and buyer for the sale of a vehicle. It specifies the vehicle make, model, year, and other details.Vehicle Information. When buying a vehicle or equipment for your business, use this Vehicle and Equipment Purchase Agreement to protect yourself from unwarranted liabilities. 1. Be specific about the car being sold. Include the make, model, year, VIN number, and mileage in the contract to avoid any confusion. What's the Difference Between a Purchase Agreement and Bill of Sale? When Is a Purchase Agreement Needed? The buyer takes the full ownership of the Vehicle (Make, Registration Number). bearing.