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Auto Lease Agreement
6
Model Open-end or Finance Vehicle Lease Disclosures
Federal Consumer Leasing Act Disclosures
Date________________________
Lessor(s) _______________________________________ Lessee(s) ______________________________________
Amount Due at Lease
Signing or Delivery
(Itemized below)*
$ _______________
Monthly Payments
Your first monthly payment of
$_____________
is due on _____________________, followed
by _________ payments of
$_______________
due on the ______ of each month. The total
of your monthly payments is
$_______________
Other Charges (not part of
your monthly payment)
Disposition fee (If you do not
purchase the vehicle)
$____________
________ ____________
Total $____________
*Itemization of Amount Due at Lease Signing or Delivery
Amount Due at Lease Signing or Delivery: How the Amount Due at Lease Signing or Delivery will be paid:
Capitalized cost reduction $__________________ Net trade-in allowance $________________
First monthly payment __________________ Rebates and non-cash credits ________________
Refundable security deposit __________________ Amount to be paid in cash ________________
Title fees __________________ ______________________ ________________
Registration fees __________________
_____________________ __________________
Total $ __________________ Total $ ________________
Your monthly payment is determined as shown below:
Gross capitalized cost. The agreed upon value of the vehicle ($_______________) and any items
you pay over the lease term (such as service contracts, insurance, and any outstanding prior credit
or lease balance).......................................................................................................................................................... $______________
If you want an itemization of this amount, please check this box.
Capitalized cost reduction. The amount of any net trade-in allowance, rebate, non-cash credit, or cash
you pay that reduces the gross capitalized cost............................................................................................................ -_______________
Adjusted capitalized cost. The amount used in calculating your base monthly payment......................................... =_______________
Residual value. The value of the vehicle at the end of the lease used in calculating your base monthly payment ... -_______________
Depreciation and any amortized amounts. The amount charged for the vehicle's decline in value
through normal use and for other items paid over the lease term............................................................................. =_______________
Rent charge. The amount charged in addition to the depreciation and any amortized amounts............................. +_______________
Total base monthly payments. The depreciation and any amortized amounts plus the rent charge........................ =_______________
Lease payments. The number of payments in your lease ...................................................................................... +_______________
Base monthly payment.......................................................................................................................................... =_______________
Monthly sales/use tax............................................................................................................................................. +_______________
__________________.............................................................................................................................................. +_______________
Total monthly payment.......................................................................................................................................…… =$______________
Rent and other charges. The total amount of rent and other charges imposed in connection with your lease…… $______________
Early Termination. You may have to pay a substantial charge if you end this lease early. The charge may be up to several thousand
dollars. The actual charge will depend on when the lease is terminated. The earlier you end the lease, the greater this charge is likely
to be
Excessive Wear and Use. You may be charged for excessive wear based on our standards for normal use [and for mileage in excess of
_________miles per year at the rate of _____________per mile].
Purchase Option at End of Lease Term. [You have an option to purchase the vehicle at the end of the lease term for $________________ [and
a purchase option fee of $__________________].] [You do not have an option to purchase the vehicle at the end of the lease term.]
Other Important Terms. See your lease documents for additional information on early termination, purchase options and maintenance
responsibilities, warranties, late and default charges, insurance, and any security interest, if applicable.
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source: in.gov
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