Auto lease also known as car lease or vehicle lease agreement involves leasing of a vehicle for a fixed period of time. During this period, payments have to be made for the use of the vehicle as mentioned in the lease form. At the end of the period, the lease can either be extended or payment can be made for ownership of the vehicle.
The auto lease format will contain items such as names of the lessor and the lessee, vehicle leased and duration of the lease, details of the vehicle, payment details, lessor and lessee rights of obligations. The duration of the lease is an important factor to be included in the form. For example, most of the auto leases are for a year .Auto leases typically extend for two to three years. The auto lease form should be prepared as per the respective laws of the state. The amount of security deposit and information about charges for late payment must be mentioned in the form. The lease payment equals the monthly rent plus monthly depreciation. The details must be specified in the form.
The sample Vehicle Agreement template is available online for download in various formats.
Auto Lease Form
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