Prepaid auto lease document is an agreement in which the lessee pays the complete amount of the rent to the lessor, while signing the agreement. It is usually known as the one-pay lease, in which the lessee gets some discount, for paying the entire money together. The lease agreement will contain the usual information like the details of the automobile, the rent amount and the other terms and conditions of the lease agreement.
Sample Prepaid Auto Lease:
Lease number: 343216.
This prepaid lease agreement states that Mr. Tom Gomes, the lessee, have rented a car (number: 668L65, model: J232) from Mr. George Hilton, the lessor, on 15th of August, 2010. The details and terms and conditions of the lease are enumerated below.
- The period of lease is from 15th of August, 2010 to 15th of September, 2010.
- The entire amount of the rent, that is, $ 35,000 has been paid by the lessee to the lessor.
- All required documents have been submitted to the lessor, such as photocopy of driving license, residential address proof and photo identity proof.
- A caution money $ 5000 has been charged from the lessor, which would be refunded at the end of the lease agreement.
- If the lessee causes any damage to the vehicle, then an amount of $ 10,000 would be charged from the lessee, along with the caution money.
- Any breach of contract in this regard, would be penalized.
We hereby agree to the above terms and conditions, and mutually decide to sign this lease agreement.
(Signature of lessor) (Signature of lessee)