Closed-End Lease Of An Automobile
(Without Option To Buy)

[date]

1. Parties. This Agreement is made between [name] of [address] (Lessee) and [name] of [address] (Lessor).

2. Subject Matter of Lease. The subject matter of this Lease is an Automobile. Lessee hereby warrants that Lessee has received the Automobile described below in good and working condition.

3. Description of Automobile. The Automobile is described as follows: [a full description of the vehicle being leased, e.g., new or used, mileage, make, model, vehicle identification number]. This vehicle is being leased for the purpose of [type of use, e.g., personal, commercial].

4. Title. The legal title to the Automobile shall remain in the name of Lessor.

5. Manner of Payment. The following payments shall be made at the inception of the Lease: [payments and credits to be made, e.g., capitalized cost reduction, trade-in allowance, taxes, deposits, licensing fees]. The total amount due is ........ dollars ($........). Monthly payments are to be made on the first of every month after the date of this Lease. These payments include [elements that make up monthly payments, e.g., rental...

(Excerpt)

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