GLD AUTO SERVICES
PAINT & BODYSHOP. SERVICE & REPAIRS. CAR SALES.

Rent 2 Buy Contract

Whereas, ___________________ (hereafter Renter) desires to possess and have the use of a vehicle owned byGLD AUTO SERVICES (hereafter Owner) and described below.

VEHICLE DETAILS.

Make:-                                    ……………………………..

Model:-                                  ……………………………..

Registration No:-                  ……………………………..

Colour:-                                  ……………………………..

Vin No:-                                 ……………………………..

Date 1st Reg:-                         ……………………………..

Odometer Reading:-             ……………………………..

RENTERS DETAILS.

Full Name:-                            ……………………………..

Full Address:-                       ……………………………..


Drivers License No:-            ……………………………..

Proof of Address:-               ……………………………..

Whereas, the parties have agreed that the Renter shall take possession of the vehicle on __/__/____ and have the use of the vehicle until this agreement is terminated, and

Whereas, Renter and Owner intend that ownership of the vehicle shall transfer to Renter upon the full completion of this agreement,

Therefore the Renter and Owner agree to the follows:

Both Renter and Owner agree that the Total purchase price of the Vehicle is  £____.__

Renter shall pay the Owner the sum of £____.__ on __/__/____ as a down payment and the weekly sum of £____.__ on each Monday for a total of ____ weeks for the rental of the above detailed vehicle.

If payment is late by more than 3 days, a late fee of £25.00 shall be due immediately from Renter.

Both Renter and Owner agree that ownership of the vehicle shall transfer to Renter upon Renter’s completion of ____ payments as described above.

The Renter agrees that if He/She fails to complete the purchase of the vehicle for any reason, no refunds or credits shall be due to the Renter by the Owner.

Renter must maintain the vehicle, “at the Renter’s expense” in good working order and fit for purpose. The Renter understands the vehicle is supplied “AS IS” and therefore comes without any form of warranty.

A Warranty is available at 15% of the Total purchase price payable at time of down payment.

Terms and conditions apply. Wear and tear, Misuse of items are NOT covered.

All warranty work is covered and carried out by the Owner. It is the responsibility of the Renter to get the vehicle back to the Owner for repairs.

Renter shall indemnify and hold harmless Owner against any and all claims, damages, or actions arising from Renter’s possession or use of the vehicle.

If Renter fails to make a payment within 5 days of its due date, Renter agrees to surrender the vehicle to Owner upon the Owner’s demand.

If Renter fails to make a payment within 14 days of its due date, Renter agrees that the Owner shall have the right to recover Renter’s vehicle for the purpose of taking possession of the rented vehicle. The Owner then has the right to dispose of the vehicle in anyway by means of selling, sending to auction, scrapping to recover any monies outstanding.

In witness to their agreement to the terms of this contract, the Renter and Owner affix their signatures below:

Owner,

Signature & date:-                …………………………..                     

Renter,

Signature & date:-                …………………………..

 


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