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 Vehicle Contract With Dealer In Houston
Category:
State:
Multi-State
City:
Houston
Control #:
US-00400BG
Format:
Word;
Rich Text
Instant download
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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Before you sign, make sure you understand every part of your auto lease contract. Let's take a close look at a real vehicle lease agreement.By signing this contract, I choose to purchase the motor vehicle on credit according to the terms of this contract. I have a signed car lease agreement. A week after signing, the dealership calls me to inform me that they made a mistake. (Attach to this application a copy of the lease agreement or property deed, an engineered survey, and legal description of the property.). Sterling McCall Lexus Clear Lake wants to help you understand the different terms and conditions of auto leasing when deciding whether to lease or buy. Genesis of Southwest Houston knows that car lease agreements may seem complicated on the surface, but they don't have to be. A friend of ours has brought to our attention that they are legally not allowed to change the contract once signed in any way. This manual will be updated on a regular basis to incorporate changes in the law.