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.
Rental Agreement Car Contract With Insurance In Nassau
Category:
State:
Multi-State
County:
Nassau
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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The Renter also agrees that only the vehicle is covered under insurance and the driver or passengers are not covered. Rent a car at Farmingdale (Nassau County) with Avis Rent a Car.Select from a range of car options and local specials. Owners must use this form to offer a renewal lease to their rent stabilized tenants living in the City of Kingston, or Westchester, Nassau, or Rockland county. Most lease agreements in New York also require you to carry collision insurance (or comprehensive insurance) and liability insurance. For a leased car, the minimum required insurance generally includes liability coverage, collision coverage, and comprehensive coverage. An NMC car lease is easy to ar range. Just fill out the at- tached ap pli ca tion and we'll be in touch. Most lease agreements in New York also require you to carry collision insurance (or comprehensive insurance) and liability insurance. The document is a binding contract between the rental company and the person renting the car.