Auto Lease Buyout Loan

By | July 11, 2012

An auto lease buyout loan is a loan which a lessee takes from an auto loan lender for the purpose of a lease buyout of an automobile. An auto lease buyout is a condition in which a lessee agrees to buy a car or an automobile which he/she has been using on lease for the entire lease term.

The auto lease buyout loan makes sure that the lessee can pay for the purchase of the automobile. An auto lease buyout loan’s details can be put on a document and in a formal manner, a sample of which has been given below for your help and reference purpose.

Sample Auto Lease Buyout Loan:

This auto lease buyout loan has been formed between a lender and a borrower wherein the borrower is the lessee of the automobile which he/she agrees to buy.

This auto lease buyout loan has been formed as on 24th June 2012 and shall remain into effect for 12 months. The termination date of the loan is thus 24th June 2013.

The details of the parties are given as follows:

LENDER Details:

Name: Mr. Fred Black

Address: D-90, first floor, Bill tower, London

Contact number: 4029347320

BORROWER Details:

Name: Mr. Tim Reynolds

Address: S-34, second floor, Greg Tower, London

Contact number: 4722480902

The details of the LESSOR of the car have been given as follows:

Name: Mr. Henry Jack

Contact number: 470394734

Details of loan:

Loan amount: $1000

Terms and conditions:

  • The Lender agrees to lend the loan amount to the Borrower on the condition of repayment within 12 month’s time.
  • The borrower agrees to pay the outstanding amount which is the principle plus interest to the lender within the above mentioned time period.
  • The borrower agrees to use the amount only for the auto lease buyout and no other purpose.

Signatures:

Fred Black

Tim Reynolds


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