Trade lease deal is a way through which dealers and customers are able to form a negotiation based on a purchase or a renting of certain property. This can be done for a number of things and can be for used or brand new products. The important thing to remember about such deals is that it is created so that both parties are benefitted from this exchange. It is the dealer’s responsibility to provide and deliver the services and promises stated at the beginning of the purchase.
There should be no information withheld. Similarly, the customer should not be tardy when making payments or any other such conditions which are necessary for the dealer. One of the important and crucial things to remember is consulting the lawyer. This is especially for the customer who must read the fine print before investing in such deals. There should be no legal hassles for both parties.
Sample Trade Lease Deal
The following contact enumerates the terms and conditions of the renting of 566CV BUICK Car from Man & Car Shop by Mr. A.B. Cod.
- Man & Car Shop will hereby be referred to as the dealer
- Mr. A.B. Cod will be known as the renter
Dealer Terms and Conditions:
- The dealer has stated that the time of rent for this car (mentioned earlier) should be for 3 years only. The contract can be renewed only after this period has been exhausted.
- There should be no damage done to the car. In case of damage, it must be reported to the dealer and the repairs need to be handled by the renter.
- All payments must be done on a monthly basis
Renter terms and conditions:
- The car rented should be brand new.
- Payments will be done by cheque only.