Vehicle Lease Contract

By | July 11, 2012

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

Plates: CTY-437

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.

Signatures:

____________________________ (Mr. Andrew Payton)

____________________________ (Ms. Jenna Fanning)


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