Car Lease Agreement Templates
Car is an appreciable asset. Taking a car on lease is much like our electricity bill. Every month you have a bill to pay for it. However, you do not own that car. You are paying for that car to drive only during the lease period. The idea behind lease is that you get to lease the car with all rights to use it. But, you also have to follow some rules and regulations. This set of rules and regulations is called car lease agreement.
At first, while taking car on lease, you look only for the leasing payment that you can afford. The company and model does not matter if your pocket does not support your it. Therefore, car lease is generally termed as fleeces that means it rips off the person who takes car on lease.The monthly or yearly payments are mentioned in the car lease agreement right from the commencing date to the ending date. Some of the leasing company also offer the mileage per year in the agreement. Make sure that you get the number of miles you need per year to drive the car.
Car lease Agreement of Different Companies:
Different manufacturers have different interest rates on car lease. Also, they charge you differently if damages is done to the car. Some ask for the disposition fee that may also vary from company to company. You have to check how much you will have to pay if you go over the number of miles decided in the agreement. The agreement must be very transparent and clear to avoid any dispute in the future.
HONDA is considered as the best car leasing company. They do not have any disposition fee. For any damage to car, they charge $1500. You would know exactly how much you will pay for mileage if you go over. Therefore, it is the best company to opt for.
The lessor has the legal right to take action and ask the lessee for the payments if any of the given situations arise:
- The lessee uses it for some criminal activities.
- Sales or transfers it to someone else.
- Carry out activities that are against the interest of the lessor.
- Delays the return of the car after the specified date and time in the agreement.
The lessee is accountable to lessor under the terms and conditions of car leasing agreement for:
- The status of the car.
- The essential documents of the car.
- The possible use of the car during the lease period.
- The economic damages caused to the car while in his/her custody during lease.
There is also an edge for the lessee while using the leasing car. It may include:
- The lessee have to pay the rent on the commencing date of the car leasing agreement.
- He/she has to pay any other charges related to car during lease period.
- During leasing period if an accident occur then the lessee must help the lessor to handle the insurance claims.
The calculation of whole term must be done very carefully. People forget that they got a car on lease in the past from the same company and did damages to the car or may be did not follow the terms and conditions as per the agreement. Next time they will be charge more that before and they cannot question about the increased price.
Free Car Lease Agreement Templates
Here are previews and download links for these Car Lease Agreement Templates.