Car lease own contract template

A Vehicle Lease Agreement is most commonly used with new and pre-owned cars, trucks, and motorcycles. However, the agreement may also be used with any other motor vehicle that has a Vehicle Identification Number VIN and license plate. Using a Vehicle Lease Agreement protects both parties from any misunderstandings or miscommunications that may arise during the life of the lease by providing written documentation of the lease terms.

This document contains all of the information necessary to create a thorough and complete vehicle lease. The document contains pertinent identifying details , such as the Parties' respective addresses and contact information. It also includes the most important characteristics of the agreement between the Parties, such as a full description of the vehicle , any fees the Lessee will be required to pay upon signing the lease e.

Finally, the agreement outlines the payment schedule and amount the Lessee will be required to pay to adhere to the agreement, as well as any possible late fees if payments are not made on schedule. After inputting the required information, the Agreement is printed out and signed by both Parties, and then kept on file by both Parties for the duration of the Agreement as well as for a reasonable period of time thereafter. The charge may be up to several thousand dollars.

The actual charge will depend on when the Lease is terminated. The earlier the Lease is ended, the greater this charge is likely to be. Lessee may be charged for excessive wear based on Lessor's specifications and generally accepted standards for normal use.

Excessive wear and tear includes, but is not limited to: damaged glass, damaged body panels, lights, fenders, paint, dysfunctional accessories, extremely worn tire tread, any damage to the interior, and any mechanical damage that interferes with the safe and lawful operation of the Vehicle. All notices required or permitted under this Lease shall be deemed delivered when delivered in person or by mail, postage prepaid, addressed to the appropriate party at the address shown for that party at the beginning of the Lease.

The Lessee shall not assign, transfer, or sublet of any of its obligations, rights, or interests under this Agreement to any third party, whether an associated entity or not, whether in whole or in part without prior written consent of the Lessor.

If Lessee fails to pay any amount due under this Agreement or to comply with any of the covenants contained in this Agreement, Lessor may terminate this Agreement upon thirty 30 days written notice and exercise any remedies under applicable law.

The Lessee will be in default if the Lessee fails to make a payment on its prescribed due date, the Lessee has misrepresented personal or financial information, the vehicle is damaged or is beyond repair, the vehicle is not returned at the end of the Lease term, Lessee fails to maintain vehicle insurance as required, or Lessee breaches any other term of this Lease.

At the end of the Lease the Vehicle may be returned to the care of Lessor. Lessee shall pay any applicable end-of-lease costs. Lessee agrees to pay all fines, tickets, or penalties incurred in connection with the operation of the vehicle during the term of this Agreement. Lessee agrees, at its expense, to maintain the Vehicle in good condition, repair maintenance, and running order and in accordance with all manufacturers and warranty requirements. Lessee shall be responsible for all expenses that shall result as a part of the normal wear and tear of the automobile.

Lessee agrees to comply with the Lessor's requirements of maintenance of the Vehicle such as, but not limited to, tire rotation and replacement, replacement of the air filter, replacements of hoses, clamps, belts, spark plugs, and oil changes. If a court holds any provision of this Agreement to be illegal, invalid, or unenforceable, the remaining provisions shall remain in full force and effect and the Parties will amend this Agreement to give effect to the stricken clause to the maximum extent possible.

The failure of either party to enforce any provision of this Lease shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Lease. The Vehicle herein is in an "as is" condition and Lessor has not made, and does not hereby make, any representation, warranty, or covenant expressed or implied with respect to the condition, quality, durability, capability, or suitability of the Vehicle or against any patent or latent defects therein.

Please enable JavaScript and Cookies in order to use this site. Under Linux, any browser using the latest Mozilla engine should work. The Lessee will ensure that the Lessor is named as registered owner, and as "Additional Insured" and loss payee in the insurance policy the "Insurance Policy". You are not buying the motor vehicle previously described; 2 Do not sign this Lease before you read it or if it contains any blank spaces to be filled in; 3 You are entitled to a completely filled in copy of this Lease when you sign it; 4 Warning -- unless a charge is included in this Lease for public liability or property damage insurance, payment for that coverage is not provided by this Lease.

Lessee Initials. Lessor Initials. Itemization of Gross Capitalized Cost. A Value of the vehicle as equipped at the time of entering into the Lease B Values and descriptions of accessories and optional equipment the Lessor agrees to add to the vehicle after entering into the Lease C Premium to be paid for each policy of insurance D Charge for each service contract E Outstanding Lease balance or prior credit balance F Itemization of any other good or service not included above G Total Gross Capitalized Cost Monthly Payment Calculation.

Gross capitalized cost. Capitalized cost reduction. The amount of the trade in allowance and down payment made by the Lessee to reduce the gross capitalized cost Adjusted capitalized cost. The amount used in calculating the periodic payments This amount along with the additional early termination charges will be used in determining your early termination liability. Residual Value. The value of the vehicle at the end of the Lease used in calculating the base monthly payments Depreciation and any amortized amounts.

The amount charged for the vehicle's decline in value through normal use and other items paid over the Term Interest charge. The interest charged in addition to the depreciation and any amortized amounts Total of base monthly payments.

The depreciation and any amortized amounts plus the interest charge Lease payments. The number of payments in your Lease Base monthly payment Total Monthly Payment Take a look at the home rent-to-own contract templates that are available online for more. It is purposefully designed to help you with your business and personal needs. It is easily editable and can be customized in a way that suits you best.

Try it out now! It is perfect for when the owner has promised to sell the vehicle to the renter for a certain price within a given time frame. It is completely editable and customizable. It can be edited and printed anywhere anytime. Rental contracts will help you create the right contract, as they are highly editable and can be easily customized in the way that suits you best.

The contract mentioned above template outlines the provisions to ensure the security of the property as well as the arrangement of payments. Check the consulting contract templates for more. All you have to do is download, edit and customize it the way you like, and get it signed to make it a legal document and bind it by law.

This template will help you design the right agreement, covering all the terms and conditions of the rental. It also has the clauses of termination in it. Check it out now! How to Create a Rent-to-Own Contract? It might be tough for you to create a contract from scratch, so there are many roofing contract templates available online for you to edit, so you do not have to go through the pain of creating one from bottom up.

If you still want to, then you can follow these steps mentioned below for an effortless way to create the right contract. Remember, written Word contracts are always better as they are solid proof for the terms and conditions you and the other parties decide on.