Vehicle Lease Agreement


A vehicle lease agreement is an agreement which is made between two parties one of whom is the lessee of a vehicle and one of whom is the lessor of the vehicle. Such agreements are signed for a fixed period of time and for a certain amount of involved money.

Sample vehicle lease agreement:

This agreement has been entered into as on 20th June 2011 and shall remain into effect for 12 months from effective date of agreement.

This agreement has been made by and between

Mr. Daniel White who is hereby referred to as the LESSOR of the vehicle

And

Mr Howard Biel who is hereby referred to as the LESSEE of the vehicle

The details of the parties are given as follows:

LESSOR:

Address: D-45, first floor, Maruti apartments, London

Contact number: 473048090955

LESSEE:

Address: 3-h, Paulo Street, London

Contact number: 4890348309505

The following are the details of the vehicle to be leased.

Name: Toyota Magnum

Colour: Silver colour

TERMINATION date of agreement: 20th June 2012

Cost of lease: $5000 per month

Total cost: $60000

Terms and conditions:

  • The lessor must receive monthly payment within the first week of each month.
  • The lessee must pay for any service or maintenance of the vehicle himself during length of agreement.
  • In case of any irreparable accident case, the lessee would have to pay an extra charge as decided amongst the parties.
  • The Lessee must return the car on the termination date to avoid late charges

Hereby the parties agree to the terms of the agreement:

Daniel White

Howard Biel

Category: Lease Agreements

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