A standard auto lease is a legal document of contract signed between two individuals, where a person rents an automobile, for a specific period of time. The lease agreement must contain all the information like the details of the automobile, the amount of rent, the period of lease, and other terms and conditions of the agreement. It should contain the signature of approval of the lessor and the lessee.
Sample Standard Auto Lease:
Lease number: 4432109.
This standard auto lease states that I, Mr. Robert Gibson, as lessee have leased a car (number: 556G65, model: karizma 323) from the State auto leasing agency, the lessor, on 10th of January, 2010. The details of the lease and the terms and conditions are stated below:
- The period of lease is from 10th of January, 2010 to 10th of March, 2010.
- The lessee has made a payment of amount $ 20,000 as advance amount and the remaining amount of $ 15,000 will be paid when the lease ends.
- The lessee has submitted all required documents to the lessor like photocopy of driving license, residential address proof, and photo identity proof.
- The lease states that if the lessee causes any damage to the borrowed car, then he will be charged fine for the damage, depending upon the cost.
- Mr. John Lee (lawyer) has attested the copy of this lease as a witness.
- Any breach of contract, by either the lessor or 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)