Rent To Own Vehicle Contract
This Rent To Own Vehicle Contract ("Contract") is entered into on this 15th day of April 2050 by and between [Your Name] ("Seller") and [Renter Name] ("Renter"). This Contract outlines the terms and conditions under which the Seller agrees to rent the described vehicle to the Renter with the option to purchase it at the end of the rental period.
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Parties Involved:
Vehicle Owner Details:
Name: [Your Name]
Address: [Your Company Address]
Number: [Your Company Number]
Potential Buyer (Renter) Details:
Name: [Name of Renter]
Address: [Address of Renter]
Number: [Phone Number of Renter]
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Vehicle Details:
Make: [Make of Vehicle]
Model: [Model of Vehicle]
Year: [Year of Vehicle]
VIN (Vehicle Identification Number): [VIN Number]
Color: [Color of Vehicle]
License Plate: [License Plate Number]
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1. Rental Period
The rental period shall commence on April 15, 2050, and continue for 36 months.
2. Rent Payments
The renter agrees to pay a monthly rental fee of $300 on the 15th of each month, starting from April 15, 2050, until the end of the rental period.
3. Option to Purchase
The renter shall have the option to purchase the vehicle at any time during the rental period by providing written notice to the seller. The purchase price shall be $10,000.
4. Maintenance and Repairs
The renter shall be responsible for the regular maintenance and upkeep of the vehicle, including oil changes, tire rotations, and any necessary repairs. The seller shall not be liable for any maintenance or repair costs incurred by the renter.
5. Insurance
The renter agrees to maintain comprehensive insurance coverage for the vehicle throughout the rental period and provide proof of insurance to the seller upon request.
6. Condition of Vehicle
The renter acknowledges that the vehicle is being rented in its current condition, and the seller makes no warranties regarding the condition or fitness of the vehicle for any particular purpose.
7. Return of Vehicle
At the end of the rental period, the renter shall return the vehicle to the seller in the same condition as received, with normal wear and tear excepted.
8. Default
In the event of default by the renter, including failure to make rental payments or breach of any other terms of this agreement, the seller shall have the right to terminate the agreement and repossess the vehicle.
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[Your Name]
[DATE SIGNED]
[Renter Name]
[DATE SIGNED]
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