ContractsCounsel Logo

Motor Vehicle Lease Agreement

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 10,575 reviews
No Upfront Payment Required, Pay Only If You Hire.
Home Contract Samples M Motor Vehicle Lease Agreement

Jump to Section

What is a Motor Vehicle Lease Agreement?

A motor vehicle lease agreement is an arrangement between a vehicle owner and another party. They agree to allow the other party to use their car for a specified period. The most common type of leasing agreement is that people sign when they purchase new vehicles.

A less common but equally important kind of leasing agreement is when an employee enters into with their employer if the company decides to give the employee a company-owned vehicle. Again, the company may choose to do this instead of reimbursing mileage or providing other business transportation reimbursement.

Common Sections in Motor Vehicle Lease Agreements

Below is a list of common sections included in Motor Vehicle Lease Agreements. These sections are linked to the below sample agreement for you to explore.

Motor Vehicle Lease Agreement Sample

Exhibit 10.01

VEHICLE LEASE AGREEMENT

 

Today’s Date:                                         Contract #                                 

This Lease Contract is entered into between:                                                                                                                   (“LESSEE”)

and EXPEDITION HOLDINGS, INC., hereinafter called “the Company”, organized and operating under the laws of the State of Florida.

THE PARTIES HEREBY MUTUALLY AGREE AS FOLLOWS:

1. DESCRIPTION OF THE PROPERTY: the Company hereby leases to LESSEE and LESSEE hereby leases from the Company, under the terms and conditions herein:

Vehicle: Year          Make                      Body                      Model                     

Color                      VIN:                                                 License                      Exp         

Odometer                     

2. AMOUNT / TERMS: THIS IS A CLOSED-END LEASE. ORIGINAL VALUE: $                    .

The fixed lease is for              monthly payments of $             per month plus tax. Invoices are issued on or about the 15th of each month and are due by the 25th of each month with the first payment due by                     , 2005. LESSEE shall pay a late charge of 5% of the payment if the monthly lease payment is 10 days past due. This lease has an allowance of                      miles per year. At the end of the lease term, the LESSEE may purchase the vehicle for $            . If the LESSEE does not purchase the vehicle, a $                     disposition fee will be due plus any vehicle damage not considered normal, if any, plus any overage of mileage at a rate of $0.12 per mile, if any.

3. INSURANCE: During the term of the lease and until the return of the vehicle, the LESSEE will maintain insurance acceptable to the LESSOR. The following minimum coverages will apply:

 

  a. Comprehensive fire and theft coverage and collision coverage, each for actual cash value of the vehicle and with a maximum deductible of $2,500; and

 

  b. Liability insurance for at least:

 

  i. $100,000 per person and $300,000 per occurrence for bodily injury or death; and

 

  ii. $50,000 per occurrence for property damage.

The LESSEE will list the Company as “Loss Payee” for the coverages in 3a and as “Additional Insured” for the coverages in 3b. If the LESSEE carries excess or umbrella liability insurance, it will include the Company’s interest to the extent permitted by law.

The LESSEE will give written proof of insurance coverage upon request. Also, the LESSEE will inform the Company at least 30 days in advance, in writing, if any term of insurance changes or the policy has been cancelled. If the LESSEE fails to maintain the required insurance, or fail to provide you proof of insurance, they will be in default.

For claims arising under insurance that concern physical damage to the vehicle, the LESSEE will appoint the LESSOR as their attorney-in-fact to initiate, settle, or release the claim. They may also sign any proofs of claim or loss on behalf of the LESSEE, and receive and sign for the LESSEE on any settlement, draft, or check. LESSEE also gives a security interest in any money paid under my insurance.

 

Page 1 of 3


PHYSICAL DAMAGE OR LIABILITY INSURANCE COVERAGE FOR BODILY INJURY OR PROPERTY DAMAGE CAUSED BY OTHERS IS NOT INCLUDED IN THIS LEASE.

4. DAMAGE, DESTRUCTION, OR LOSS OF VEHICLE: If, during the term of this Lease and until the return of the vehicle, it is damaged, destroyed, stolen, abandoned, or taken by any judicial or governmental authority, the LESSEE will remain financially responsible. The LESSEE shall notify the Company within 10 days of any of these events.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

5. SETUP FEE: There is a Setup Fee of $                     which includes licensing, insurance verification, credit information, transportation, taxes, and other fees not necessarily fixed under this agreement.

6. NO ABATEMENT OR SETOFF: LESSEE agrees that the sums payable to the Company shall not be subject to any abatement whatsoever, nor subject to any defense, set-off, counterclaim, or recoupment by reason of any damage to or loss or destruction of said property.

7. ALL DEPOSITS, FEES AND FIXED RENTAL PAID UNDER THIS CONTRACT ARE NON-REFUNDABLE.

8. LICENSES, TAXES, FEES, EXPENSES: In addition to fixed rentals, sales tax, initial and subsequent license and registration fees, LESSEE agrees to pay all costs, expenses, fees, and charges in connection with the use and operation of the property during the term of this Lease, as well as any and all increased or added sales taxes, personal property, and other ad valorem taxes and assessments and/or other governmental charges whatsoever on the said property, or on the use, ownership, possession, Lease, transportation, delivery, or operation of the same. LESSEE agrees to reimburse the Company for the full costs, expenses, taxes, fees, and other charges paid by the Company in which LESSEE is obligated to pay.

9. NO AGENT OR EMPLOYEE OF THE COMPANY SHALL HAVE THE POWER TO WAIVE ANY OF THE TERMS OR PROVISIONS HEREOF, or to incur additional obligations on behalf of the Company unless such waiver or additional obligations are evidenced by an agreement in writing signed by a duly authorized officer of the Company and by the LESSEE.

10. USE OF PROPERTY: LESSEE agrees that during the term of this Lease, they will use the property for lawful purposes only and the property shall not leave the United States without the expressed written permission of the Company. LESSEE agrees to indemnify and hold the Company harmless from any fines or penalties for violation of any laws or illegal use of the property.

11. ASSIGNMENT/SUBLEASING: LESSEE agrees that they will not assign, transfer, sublet, or in any way rent or lease his rights hereunder and will not lien or cause to be liened the property described herein.

12. MAINTENANCE & REPAIRS: LESSEE agrees to maintain the property in good working condition and not to misuse or abuse it.

13. DAMAGE, DESTRUCTION OR THEFT: LESSEE assumes the entire risk of loss or damage to the property from any cause whatsoever and the obligation of the LESSEE shall not be affected in any manner irrespective of any damage, loss, or destruction thereof.

14. INDEMNITY: the Company shall not or under any circumstances be liable for any damage or injuries to persons or property suffered or sustained in the use, condition, or operation of the property and all such claims are specifically waived by LESSEE. Company makes no warranties, expressed or implied, as to the condition of the property or its fitness for any particular purpose. LESSEE agrees to and does hereby hold the Company, its agents and employees, free and harmless from any and all losses, costs, demands or liability of any kind whatsoever, including legal costs and attorney’s fees. Upon demand, LESSEE shall defend at LESSEE’s own expense, any claims brought against the Company.

 

Page 2 of 3


15. TERMINATION OR DEFAULT: For any reason of termination of this contract, the Company shall have the right to take possession of the property and sell it to the highest bidder and the Company shall retain all proceeds.

16. ATTORNEY’S FEES/LEGAL COSTS: In the event LESSEE shall default hereunder, the Company shall be entitled to recover from LESSEE, in addition to all other damages, all costs and expenses, including court costs and reasonable attorney’s fees by the Company to enforce its rights.

17. TITLE: The Title to the property shall at all times remain in the possession of the Company or its nominees, successors, or assigns. The Company may at any time, sell or assign this contract, including its interests in moneys due hereunder.

18. SEVERABILITY, WAIVER, ENTIRE AGREEMENT: Any provisions of this contract which shall prove to be invalid, void, or illegal will in no way affect, impair, or invalidate any other provision hereof and such remaining provisions shall remain in full force and effect. The parties hereto have read this entire Lease and do hereby acknowledge that they are familiar with all of the terms, covenants, and conditions set forth herein and that there are no other representations, warranties, or agreements concerning this contract which do not appear in writing herein. There shall be no alterations, change, or modification of any of the terms, covenants, and conditions of the Lease except in writing and signed by all parties hereto.

NOTICE TO LESSEE:

1. DO NOT SIGN THIS AGREEMENT BEFORE YOU READ AND UNDERSTAND IT.

2. YOU ARE ENTITLED TO A COMPLETED COPY OF THIS AGREEMENT.

3. YOUR SIGNATURE INDICATES YOU HAVE READ THE ENTIRE AGREEMENT AND HAVE RECEIVED A COMPLETED COPY.

FAILURE TO RENEW THIS CONTRACT OR RETURN VEHICLE ON THE DUE DATE WILL RESULT IN THE VEHICLE BEING REPORTED AS STOLEN AND YOU MAY BE CONVICTED OF A FELONY AND BE FINED AND IMPRISONED. YOU ARE RESPONSIBLE FOR ALL COSTS INCURRED.

IN WITNESS WHEREOF, on this date the parties hereto have executed this Lease Agreement:

 

 

     

 

LESSEE       Date

 

  

 

  

 

EXPEDITION HOLDINGS, INC.    Title    Date

 

Page 3 of 3


Reference:
Security Exchange Commission - Edgar Database, EX-10.01 6 dex1001.htm FORM OF VEHICLE LEASE AGREEMENT, Viewed January 26, 2022, View Source on SEC.

Who Helps With Motor Vehicle Lease Agreements?

Lawyers with backgrounds working on motor vehicle lease agreements work with clients to help. Do you need help with a motor vehicle lease agreement?

Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate motor vehicle lease agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.

Need help with a Motor Vehicle Lease Agreement?

Create a free project posting

Meet some of our Motor Vehicle Lease Agreement Lawyers

Jane C. on ContractsCounsel
View Jane
4.9 (82)
Member Since:
October 9, 2020

Jane C.

Attorney
Free Consultation
New York
19 Yrs Experience
Licensed in CT, DC, NY
Pace University School of Law

Skilled in the details of complex corporate transactions, I have 15 years experience working with entrepreneurs and businesses to plan and grow for the future. Clients trust me because of the practical guided advice I provide. No deal is too small or complex for me to handle.

Daehoon P. on ContractsCounsel
View Daehoon
4.7 (116)
Member Since:
November 26, 2021

Daehoon P.

Corporate Lawyer
Free Consultation
New York, NY
9 Yrs Experience
Licensed in NY
American University Washington College of Law

Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.

Ryenne S. on ContractsCounsel
View Ryenne
4.9 (369)
Member Since:
October 11, 2022

Ryenne S.

Principal Attorney
Free Consultation
Chicago, IL
14 Yrs Experience
Licensed in IL
DePaul University College of Law

My name is Ryenne Shaw and I help business owners build businesses that operate as assets instead of liabilities, increase in value over time and build wealth. My areas of expertise include corporate formation and business structure, contract law, employment/labor law, business risk and compliance and intellectual property. I also serve as outside general counsel to several businesses across various industries nationally. I spent most of my early legal career assisting C.E.O.s, General Counsel, and in-house legal counsel of both large and smaller corporations in minimizing liability, protecting business assets and maximizing profits. While working with many of these entities, I realized that smaller entities are often underserved. I saw that smaller business owners weren’t receiving the same level of legal support larger corporations relied upon to grow and sustain. I knew this was a major contributor to the ceiling that most small businesses hit before they’ve even scratched the surface of their potential. And I knew at that moment that all of this lack of knowledge and support was creating a huge wealth gap. After over ten years of legal experience, I started my law firm to provide the legal support small to mid-sized business owners and entrepreneurs need to grow and protect their brands, businesses, and assets. I have a passion for helping small to mid-sized businesses and startups grow into wealth-building assets by leveraging the same legal strategies large corporations have used for years to create real wealth. I enjoy connecting with my clients, learning about their visions and identifying ways to protect and maximize the reach, value and impact of their businesses. I am a strong legal writer with extensive litigation experience, including both federal and state (and administratively), which brings another element to every contract I prepare and the overall counsel and value I provide. Some of my recent projects include: - Negotiating & Drafting Commercial Lease Agreements - Drafting Trademark Licensing Agreements - Drafting Ambassador and Influencer Agreements - Drafting Collaboration Agreements - Drafting Service Agreements for service-providers, coaches and consultants - Drafting Master Service Agreements and SOWs - Drafting Terms of Service and Privacy Policies - Preparing policies and procedures for businesses in highly regulated industries - Drafting Employee Handbooks, Standard Operations and Procedures (SOPs) manuals, employment agreements - Creating Employer-employee infrastructure to ensure business compliance with employment and labor laws - Drafting Independent Contractor Agreements and Non-Disclosure/Non-Competition/Non-Solicitation Agreements - Conducting Federal Trademark Searches and filing trademark applications - Preparing Trademark Opinion Letters after conducting appropriate legal research - Drafting Letters of Opinion for Small Business Loans - Drafting and Responding to Cease and Desist Letters I service clients throughout the United States across a broad range of industries.

Brianna N. on ContractsCounsel
View Brianna
5.0 (2)
Member Since:
June 16, 2021

Brianna N.

Attorney
Free Consultation
New York
8 Yrs Experience
Licensed in NY
Touro Law School

Brianna is a well-respected New York licensed attorney with a Juris Doctorate degree in law from Touro College Jacob D. Fuchsberg Law School and bachelor’s degree in Business Administration and Management from Dowling College. Since becoming an attorney, she has practiced in various areas including business law, corporate law, residential real estate, commercial real estate, criminal law, traffic law, employment law, landlord tenant law, estate planning, and has represented intermediaries in procurement and the personal protective equipment industry. Brianna has broad and extensive business experience; She is an entrepreneur and co-owner of a microtechnology manufacturing company that was built by her and her partner, where she also served as the Chief Legal Officer and Human Resource Manager for the company. While building the manufacturing business, she created a brokerage firm for business transactions and has managed several other businesses which she has ownership interest in. Brianna’s involvement in these various businesses over the past 15 years provides a unique skillset to her clients; Not only does she understand contractual principals and obligations from a legal perspective while drafting and negotiating agreements, but she also has the foresight, experience, and ability to ensure the agreement reflects the practical aspects of the business. Based on the client’s needs and desired outcome, she has the forethought to cover different angles that would be overlooked from a legal standpoint, and as a result she is able to help prevent unforeseen business ramifications. She conducts extensive risk assessments on behalf of her clients and minimizes exposure to potential liability without “over lawyering” agreements. One of Brianna’s main areas of focus is drafting and negotiating agreements. Negotiation is a passion of hers which was applied in law school while she was a member of the Alternative Dispute Resolution Society, notably winning Touro Law School’s intraschool negotiation competition. In her more recent years, Brianna has removed herself from her various business interests to focus on her law practice. Brianna has a strong moral compass and believes in quality over quantity. She treats every client as a top priority; thus, she will not take on many cases at a time because she wants to give each client the focus and attention they deserve. She has sharp attention to detail and is a forceful advocate for every client. Brianna has broad and extensive business experience; She is an entrepreneur and co-owner of a microtechnology manufacturing company that was built by her and her partner, where she also served as the Chief Legal Officer and Human Resource Manager for the company. While building the manufacturing business, she created a brokerage firm for business transactions and has managed several other businesses which she has ownership interest in. Brianna’s involvement in these various businesses over the past 15 years provides a unique skillset to her clients; Not only does she understand contractual principals and obligations from a legal perspective while drafting and negotiating agreements, but she also has the foresight, experience, and ability to ensure the agreement reflects the practical aspects of the business. Based on the client’s needs and desired outcome, she has the forethought to cover different angles that would be overlooked from a legal standpoint, and as a result she is able to help prevent unforeseen business ramifications. She conducts extensive risk assessments on behalf of her clients and minimizes exposure to potential liability without “over lawyering” agreements. Additionally, she specializes in drafting and negotiating agreements. Negotiation is a passion of hers which was applied in law school while she was a member of the Alternative Dispute Resolution Society, notably winning Touro Law School’s intraschool negotiation competition. In her more recent years, Brianna has removed herself from her various business interests to focus on her law practice. Brianna has a strong moral compass and believes in quality over quantity. She treats every client as a top priority; thus, she will not take on many cases at a time because she wants to give each client the focus and attention they deserve. She has sharp attention to detail and is a forceful advocate for every client.

Jeff C. on ContractsCounsel
View Jeff
5.0 (8)
Member Since:
July 31, 2020

Jeff C.

Outside General Counsel / Business Attorney
Free Consultation
Colorado
37 Yrs Experience
Licensed in CO, OR
University of Oregon

Experienced and broad based corporate/business attorney and Outside General Counsel (OGC), for start-ups, small businesses and growing companies of all sizes, advising and assisting clients with corporate and LLC formation, contracts and agreements, internet and terms of use/service agreements, trademarks and intellectual property protection, the purchase and sale of businesses (M&A), labor and employment matters, compliance and risk management, corporate governance, and commercial leasing matters. See other reviews on my website at www.ogcservices.net/reviews

Paul S. on ContractsCounsel
View Paul
5.0 (14)
Member Since:
August 4, 2020

Paul S.

CEO
Free Consultation
Cincinnati, OH
38 Yrs Experience
Licensed in CA, OH
Boston University

I focus my practice on startups and small to mid-size businesses, because they have unique needs that mid-size and large law firms aren't well-equipped to service. In addition to practicing law, I have started and run other businesses, and have an MBA in marketing from Indiana University. I combine my business experience with my legal expertise, to provide practical advice to my clients. I am licensed in Ohio and California, and I leverage the latest in technology to provide top quality legal services to a nationwide client-base. This enables me to serve my clients in a cost-effective manner that doesn't skimp on personal service.

Christopher J. on ContractsCounsel
View Christopher
Member Since:
August 4, 2020

Christopher J.

Attorney and Counselor at Law
Free Consultation
Ann Arbor, MI
25 Yrs Experience
Licensed in MI
Detroit College of Law at Michigan State University

Experienced attorney focusing on estate planning, probate administration, business formation and counseling, and consumer bankruptcy.

Find the best lawyer for your project

Browse Lawyers Now

Need help with a Motor Vehicle Lease Agreement?

Create a free project posting
Business lawyers by top cities
See All Business Lawyers
Motor Vehicle Lease Agreement lawyers by city
See All Motor Vehicle Lease Agreement Lawyers

ContractsCounsel User

Recent Project:
Vehicle Rental Agreement
Location: Nevada
Turnaround: Less than a week
Service: Drafting
Doc Type: Vehicle Lease Agreement
Number of Bids: 4
Bid Range: $750 - $1,250

ContractsCounsel User

Recent Project:
Vehicle Lease Agreement Drafting
Location: Massachusetts
Turnaround: Less than a week
Service: Drafting
Doc Type: Vehicle Lease Agreement
Number of Bids: 4
Bid Range: $450 - $1,050
related contracts
See More Contracts
other helpful articles

Need help with a Motor Vehicle Lease Agreement?

Create a free project posting

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city