Private auto lease is a contract signed between two individuals, when a person rents an automobile for private purpose, for a specific period of time. This document must contain the lease number, the amount of rent, the terms and conditions of this agreement, the details of the automobile, and the signature of confirmation of the lessor and the lessee.
Sample Private Auto Lease:
Lease number: 647998
This private auto lease states that I, Mr. Tony Felton, as lessee, have leased a car (number: 546M88, model: Panash 210) from Mr. Daniel Lee, the lessor, on 10th of January, 2011. The details of the lease are stated below.
- Period of lease: 10th of January, 2011 to 10th of March, 2011.
- A payment of $ 25,000 has been made by the lessee as advance amount, and the remaining amount of $ 20,000 will be paid at the end of the lease term.
- The documents submitted by the lessee are residential address proof, photo identity proof, and photocopy of driver’s license.
- The lessee would be responsible for any loss or damage of vehicle. In such case, the lessee will be penalized and an amount of $ 25,000 will be charged from him.
- The lease agreement is signed at the presence of Mr. Paul Bates (attorney at law).
- In case of any breach of contract, the lessee will be penalized.
We hereby agree to the above terms and conditions, and mutually decide to sign this lease agreement.
(Signature of lessee) (Signature of lessor)