Agreement for Pawning a Car in Mid-Installments

This agreement is made and entered into on [date] by and between [Pawner's Name]
(hereinafter referred to as "Pawner") and [Pawnshop's Name] (hereinafter referred to as
"Pawnshop").

WHEREAS, the Pawner is the legal owner of the motor vehicle described as follows:
[make and model of car, year of manufacture, vehicle identification number (VIN), and
plate number] (hereinafter referred to as the "Car").

WHEREAS, the Pawner is in need of immediate cash and wishes to pawn the Car to the
Pawnshop.

WHEREAS, the Pawner has an outstanding balance on the Car loan with [lender's name]
in the amount of [amount in words] (Php [amount in numbers]) (hereinafter referred to
as the "Outstanding Balance").

NOW, THEREFORE, the Pawner and Pawnshop agree as follows:

1. Pawning and Redemption: The Pawner agrees to pawn the Car to the Pawnshop
for a period of [number] months. The Pawnshop shall hold the Car as collateral
for the loan, which shall be equal to the Outstanding Balance plus interest and
fees. The Pawner may redeem the Car at any time during the loan period by
paying the full loan amount plus interest and fees.
2. Payment Terms: The Pawner shall make monthly payments to the Pawnshop in
the amount of [amount in words] (Php [amount in numbers]) to cover the interest
and fees on the loan. The Pawnshop shall provide the Pawner with a payment
schedule outlining the payment due dates.
3. Car Condition: The Pawner hereby represents and warrants that the Car is in
good condition and free from any material defects, malfunctions, or problems
that would affect the Car's normal operation.
4. Liabilities and Responsibilities: The Pawner shall assume all liabilities and
responsibilities for the Car during the loan period. The Pawner shall also be
responsible for all costs and expenses associated with the Car, including but not
limited to registration, insurance, taxes, and maintenance.
5. Default: In the event of a default by the Pawner, the Pawnshop shall have the right
to take possession of the Car and sell it to recover the outstanding loan amount,
interest, and fees. The Pawnshop shall notify the Pawner in writing of the default
and the intention to sell the Car.
 6. Governing Law: This Agreement shall be governed by and construed in
accordance with the laws of the Republic of the Philippines.
7. Entire Agreement: This Agreement represents the entire understanding between
the parties and supersedes all prior negotiations, representations, or agreements,
whether oral or written.
8. Binding Effect: This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective heirs, executors, administrators,
successors, and assigns.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
above written.

[Pawner's Name]

[Pawnshop's Name]