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.
Lease Agreement With Option To Purchase In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-00400BG
Format:
Word;
Rich Text
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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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THIS AGREEMENT MADE and entered into on this ______ day of. When you sign a leaseoption agreement, you agree on a sales price at the outset of the agreement.You can purchase the rental property using the RTO contract's purchase option for less than the total of payments. A California lease agreement allows a landlord of residential or commercial property to write a legally binding rental contract with a tenant. A California renttoown agreement combines a residential lease arrangement and a real estate purchase addendum. This Lease Agreement ("Lease") is entered into between the Housing. Authority of the County of Contra Costa, a public body corporate and politic. A lease option agreement is important if a tenant wants to purchase the landlord's property at the end of the lease. It was there contended, as in the instant case, that the two leases were actually contracts of purchase and that the lease-option plan was a subterfuge. Renewal of this Agreement shall extend the option to purchase for a like term. 3.