Free Vehicle Agreement Template
VEHICLE AGREEMENT
This Auto Lease Agreement ("Agreement") is made and entered into by and between GoWorld Rentals, starting now referred to as "Lessor," and [Your Name], starting now referred to as "Lessee." The parties agree to the following terms and conditions regarding the lease of the vehicle described below:
I. Vehicle Information
The details of the vehicle to be leased are as follows:
|
Detail |
Description |
|---|---|
|
Make and Model |
Toyota Camry |
|
Vehicle Identification Number (VIN) |
4T1BF1FK0JU192830 |
|
Year |
2023 |
|
Color |
Silver |
|
Odometer Reading |
12,350 miles |
II. Lease Term
The lease term is as follows:
|
Start Date |
End Date |
Duration |
|---|---|---|
|
1st January, 2055 |
1st January, 2056 |
12 months |
III. Payment Terms
Payment terms for the lease are as follows:
|
Payment Type |
Amount |
|---|---|
|
Monthly Payment |
$450 |
|
Payment Due Date |
1st of each month |
|
Late Payment Fee |
$50 |
IV. Security Deposit
The security deposit details are as follows:
Deposit Amount: $900 (refundable upon vehicle return)
V. Insurance
The required insurance coverage is as follows:
|
Insurance Type |
Description |
|---|---|
|
Required Coverage |
Comprehensive (Liability, Collision, Theft) |
|
Insurance Provider |
Allstate Insurance |
|
Policy Number |
XYZ123456789 |
VI. Use of Vehicle
The vehicle is leased for personal use only. The following restrictions apply:
|
Restriction |
Details |
|---|---|
|
Commercial Use |
Not allowed (e.g., ride-sharing, delivery services) |
|
Modifications |
Unauthorized modifications prohibited |
|
Off-Roading/Racing |
Not allowed |
VII. Maintenance and Repairs
The Lessee is responsible for regular maintenance. The details are as follows:
|
Maintenance Task |
Frequency |
|---|---|
|
Oil Changes |
Every 5,000 miles |
|
Tire Rotations |
Every 7,500 miles |
|
Brake Inspections |
Every 10,000 miles |
|
Fluid Checks |
Regular checks as needed |
The Lessor will cover any major repairs not caused by the Lessee’s negligence.
VIII. Termination and Default
The terms related to termination and default are as follows:
|
Early Termination Fee |
$500 |
|
Repossession Notice |
10-day notice required |
In case of a default (such as non-payment or violation of terms), the Lessor has the right to repossess the vehicle after providing a 10-day notice.
IX. Signatures
By signing this Agreement, both parties agree to the terms outlined above.
|
Lessor's Details |
Lessee's Details |
|---|---|
|
GoWorld Rentals |
|
[Lessor's Name]