A vehicle lease contract is the type of a contract which records the lease arrangement wherein a lessor is leasing out a vehicle to a lessee. A lessor is usually the owner of the vehicle and the lessee is the individual who seeks to use a vehicle for a certain period of time without purchasing it. The lessee gets to use the vehicle on payment of a lease amount. Given below is a sample of a vehicle lease contract.
Sample Vehicle Lease Contract:
Date of signing: 1st November 2010
The vehicle lease contract is being prepared to be signed between Mr. Andrew Payton of Payton Car Dealerships & Leases, the lessee and a Ms. Jenna Fanning, the lessee.
This contract states that Ms. Jenna Fanning has leased out a vehicle from Payton Car Dealerships & Leases for duration of 1 year and 6 months. All the details pertaining to the arrangement are given.
Lease starts on: 1st November 2010
Lease expires on: 1st March 2012
Details of the Lessor:
Official Name: Payton Car Dealerships & Leases.
Name: Mr. Andrew Payton
Contact No.: 546-738-576
Details of the Lessee:
Name: Ms. Jenna Fanning
Contact No.: 476-345-876
Details of Vehicle:
Make/ Model: 2009 Audi Q5
Terms and conditions of the lease contract:
- The payment in regard to the lease of the vehicle has been made in full. The lessee is not required to make any further or additional payments.
- The lessee can return the vehicle before the expiry of the lease, if so the lessor shall refund the lease amount after 7% cancellation charges.
- The lessee must pay for any damages done to the vehicle during the period of the lease.
- The lessee is responsible for the insurance of the vehicle for the period of the lease.
- This is a legal contract and any violation shall be deemed a punishable offence.
____________________________ (Mr. Andrew Payton)
____________________________ (Ms. Jenna Fanning)