An auto lease purchase agreement is a legal document which is framed between the owner of an automobile and a person who wishes to lease the automobile for certain duration of time and by paying a lease amount. This agreement is based upon some terms and conditions which are formal and legally binding in nature.
Sample Auto Lease Purchase Agreement:
This agreement has been made effective as on 5th June 2011
Duration of agreement: 6 months
This agreement has been made between the parties whose details are given as follows:
Name: Mr. Tom Riddle
Address: KW-78, first floor, Peter tower, London
Contact number: 47093709705
Name: Mr. Roger White
LESSOR owns the automobile and wishes to lease it to the LESSEE for 6 months.
Address: 45-g, second floor, Tim estate, London
Contact number: 4739583943290
Details of the automobile:
Name: Honda Passion
Condition: 2 years old in a perfect working condition and scratch free.
Monthly rent: $ 2000
Total rent: $12000
The following are the terms and conditions of the agreement:
The LESSEE must keep the car in good conditions and would have to handle all servicing and repair charges himself during period of agreement.
The LESSOR can always inspect the car whenever he wishes during term of agreement.
The LESSEE must use and drive the automobile only within the country.
The LESEE must make monthly payments on the 1st of each month.
The LESSEE must hand over the auto on the termination date.
Both the parties hereby agree to the terms and conditions of the agreement: