This Lease is meant to be used by one individual dealing with another individual rather than a dealership situation. It therefore does not contain disclosures required by the Federal Consumer Leasing Act.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Lease Agreement For Vehicle In Los Angeles - Lease or Rental Agreement of Automobile, Car, Truck, or Vehicle by Individual - Personal - Template
State:
Multi-State
County:
Los Angeles
Control #:
US-00400BG
Format:
Word
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Description
An "Automobile Lease Agreement" is generally used to describe the formal contract or agreement that binds the leasing customer to the terms and conditions set forth by a leasing company or bank ("financier") . It is usually prepared or provided by the automobile dealership. This type of Automobile Lease is one the methods by which an automobile may be financed. It allows the customer to drive an automobile by making monthly payments to the financier. The payments serve to compensate the financier for the depreciation in value of the automobile during the time it is being driven. The financier will also assess a monthly finance charge that is similar to interest on a loan. This compensates the financier for the use of their money that is tied up in the purchase of the automobile from a dealer. The financier or car dealership actually owns the automobile. The automobile is leased for a specific period of time and is typically returned to the car dealership at the end of that time.
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Leased vehicles must be registered in the names of both the lessor and the lessee. The lessor is designated as LSR; the lessee is designated as LSE.Make sure you have a clear Vehicle Leasing Agreement. The most essential lease conditions relate to liability, responsibility, and ownership. A vehicle lease is a long-term rental. Leasing a car (or other motor vehicle) involves taking possession of a car for a fixed period of time (term), for a fixed amount of money as a monthly payment. A motor vehicle lease agreement is an arrangement between a vehicle owner and another party that sets terms for the lease. The agreement requires input of specific information, such as the names of the landlord and tenant, the property address, the lease term, and the rental amount. This documentation can be as little as a current driver's license and proof of a valid insurance policy, or it could be a lot more. 1. Review your lease contract: : Familiarize yourself with the terms of your lease agreement, including any end-of-lease provisions or requirements. 2.