“Car lease agreement template” is used when the buyer wants to purchase a car from a seller. this agreement makes between the car seller and the car buyer.
This agreement helps both parties with the security issues and also for the payment issues. Most sellers sell the things without revealing the terms and conditions to the buyer and both parties verbally agree to buy and sell.
This process traditionally creates issues regarding the payment for example the buyer complains about a problem in the car and refuses to pay after two to three days.
For this reason and these types of mistakes, the form of the agreement form. Because all things considered it contains the all terms and conditions that are revealed to the buyer to agree with and afterward, signs on to it.
Before making payments, the buyer must read all the terms and conditions of purchase and payments mentioned in the car lease agreement template. This agreement secures both parties.
Why use Car Lease Agreement Template:
- To make a formal documental record
- To avoid disputes
- Formal agreement
- Lawful consideration
- Include Both Parties Consent.
- Easy to use.
- Affordable and printable
Guide to Use this template:
There are 6 sections included in this template to fill that are following:
- Buyer’s Detail Section
- Seller’s Details
- Vehicle’s Descriptions
- Terms & conditions Agreement details
- Law section
- Signature’s section
Buyer’s Detail Section Vehicle Lease Agreement:
Buyers section includes all the details about buyers are following:
- Buyer’s name: Name of the buyer
- Contact number
- City/ State/ Zip code
Seller’s Detail Section:
The seller section includes all the details about the seller details that are following:
- Seller’s name
- Zip code/ state/ city:
- Contact information
The vehicle description that is going to be sold must be made in this section. The current condition of the vehicle must be written in the car lease agreement template:
Year of acquisition: the year in which the vehicle was purchased.
Model Number: the name and model number must be mentioned.
Therefore, these details are included in the vehicle description section.
Related Template: Car down payment deposit receipt
Terms & Conditions section:
The terms and condition section of the vehicle lease agreement include all the details about the buyer and seller party terms. It includes the buyer’s hereby that he agrees to pay for instance $100 on this month/ date/ year, and if the buyer is paying in installments the day of the month on which the installment payments to the seller.
The installments conditions are also mentioned in detail. The agreement section also ensures that if the buyer is failed to pay the following amount before the due date so extra money is charged on the extra grace days.
Warranty/ guarantee details hereby are also mentioned for the agreement.
Lawful Consideration Section:
In this section, the clause of law is also mentioned. That this article is governed by the state/ Government and the country’s law.
Afterward, in the last, the agreement completes with the signature of both parties. The seller signed this and the buyer after reading all the terms & conditions the buyer signed this agreement.