A rent to buy agreement is essentially an agreement between the buyer and seller, whereby the buyer, for whatever reason, isn´t in the current position to buy the object at this moment but intends to buy the object in the future. For the buyer this is advantageous as it gives them the option to use the object and secure it as it is his own.
A rent to buy agreement, also known as rent with option to buy, is where the renter will rent the object, and partial if not all rent paid, is deducted from the final purchase cost of the object. So if you rent to buy a scooter, you will not be the lawfull owner until you have paid all the rental periods.
When signing a rent to buy-agreement you will have to pay a deposit. If, at the end of the term, you buy the scooter, the deposit will be used to pay the final payment. If you decide not to buy the scooter you will loose the deposit while you still have to pay the final payment. In our Lease a scooter to Buy-agreement you pay 10% of the purchase price including IVA as a security deposit, so the Lessor can use it to prepare the scooter for selling to another.
If you want to terminate the agreement during the term you loose the deposit and you will have to pay all costs for preparing the scooter to bring it in the right state for reselling of rerenting it. For some unforseen circumstances we have a leniency-condition. This means that we take back the scooter and pay back the deposit only if:
a) It is a unforseen circumstance to the reasonable judgement of the owner.
b) The scooter is in more or less perfect state. This to be judged by the owner.
c) At least 50% of the monthly payments have to be paid,
d) The lessee or its successors will have to give us notice in writing.
It is possible to trade your scooter in for a new or bigger one under the following conditions:
a) The purchase price of the scooter you want to buy is higher than that of the one you have
b) At least 50% of the monthly payments have to be paid.
c) The scooter has no signifocant damage (to judge by the owner)
The term of our Lease to Buy a scooter-agreement is 24, 36 or 48 month. You choose whats fits the best for your budget.
You want to buy a Scooter with our Lease to Buy your scooter-concept. The scooter has a purchase price of € 2.000 including IVA. You will have to pay a deposit of 10% or 200 €. Based on a term of 48 month the monthly paymant will be 45 € or 2.25% of the purchaseprice including IVA. The last payment will be 200 € which is the same amount as the deposit we will return you.
You can easily calculate your deposit and monthly payment yourself:
|Purchaseprice incl IVA||Deposit (10%)||24 mnd (4,25%)||36 mnd (3%)||48 mnd (2,25%)|
|2.000 €||200 €||85 €||60 €||45 €|
|3.000 €||300 €||127,50 €||90 €||67,50 €|
|4.000 €||400 €||170 €||120 €||90 €|
Between La vacas frisonas SL, acting under the tradingname of MAR MENOR MOBILITY CENTRE, with its office in San
Pedro del Pinatar, hereafter mentioned as Lessor
And Mr/ms/Sr/Sra , hereafter mentioned as Lessee
Hereby agree as follows,
1: Lease of scooter. Lessor leases to Lessee the following scooter:
2: Term. The term of the lease of the scooter is 24/36/48 months. This period will start on the date on which the Lessee receives the Scooter.
3: Rental payments. The rental payments amount to € and must be paid to the end of the month.
4: Security deposit. the Lessee agrees to pay a deposit to the Lessor at the beginning of the Lease to guarantee the condition of the Scooter. This deposit amounts to 10% of the purchase price of the scooter.
5: The lessee must
(a) keep the Scooter in good condition, and make any repairs and replacements at its own expense;
(b) make sure the Scooter is used only by competent people;
(c) use the Scooter carefully and properly;
(d) keep the Scooter at the agreed-on location, and not remove it without the Lessor’s consent. This location will usually be the Lessee’s place of business, but the Parties can agree on another place;
(e) not change or add to the Scooter. Note that this subsection may need to be rewritten if certain types of Scooter are leased. For example, if you are leasing computers, the Lessee will often need to make upgrades or changes;
(f) tell the Lessor about any loss, theft, or destruction of or to the Scooter; and
(g) not assign or transfer the Scooter
6: Lessor’s representations and warranties. The Lessor’s promises about the Scooter that is being leased. More specifically, the Lessor is swearing that:
(a) it has the ability to lease the Scooter, but doesn’t claim that the Scooter is guaranteed to be a certain way, or useful to the Lessee’s business;
(b) it will leave the Lessee alone during the Term if the Lessee follows the terms and conditions of the Lease; and
(c) it will transfer any warranty that can be transferred (e.g., manufacturer’s warranty) to the Lessee.
7: Lessee’s representations and warranties. The Lessee’s promises about the property that is being leased. More specifically, the Lessee is swearing that:
(a) the Scooter is in good condition, is what it wanted to rent, and will be used for its purpose;
(b) if the Scooter isn’t working after the Effective Date, it can bring it up with the Lessor;
(c) any expenses paid by the Lessee to bring a warranty claim are not reimbursable. However, if the Lessee receives any money under the warranty, it must turn it over to the Lessor. The Lessor will use the money to repair or replace the Scooter;
(d) even if the Scooter supplier or manufacturer breaches a warranty or representation, the Lessee still has to pay Rent;
(e) it was authorized to give all of the documents it gave under the Lease; and
(f) it didn’t (and won’t) violate any law by signing or performing its activities under the Lease.
8: Insurance. During the Term, the Lessee must get insurance on the Scooter and give a copy of any proof of that insurance to the Lessor. The insurance should cover any loss or damage to the Scooter, and also any risk of harm to the general public by the Scooter.
9: Maintainance and repairs: Lessee has to pay all costs of maintenance and repairs during the Term as long it is not included in the guarantees. We give the lessee a discount of 30% on the costs of material of these repairs and replacements under the condition that they are not the effect of irresponsible usage.
10: Taxes and fees. the Lessee has pay all applicable taxes and fees during the Term, and to provide any relevant paperwork about these payments to the Lessor.
11: Liability for loss and damage. The Lessee is responsible for any damage or loss of the Scooter. The Lessee will pay the fair market value of the lost or damaged Scooter to the Lessor.
12: Rights of lessor on default. If the Lessee defaults (as described in Section 13) the Lessor can end the Lease and take back the Scooter. If this happens, the Lessee will pay any related costs. If the Lessee doesn’t deliver the Scooter to the Lessor, the Lessor can go onto the Lessee’s property and retake it, without having to get a court order or police assistance.
An optional, and recommended, provision states that the Lessor has to try to lease the Scooter again and limit any other costs related to the default. In other words, the Lessor can’t just keep incurring expenses without trying to keep them reasonable or eliminate them.
13: Interest. If the Lessee is late on any of its payments, it will have to pay 8% interest on the unpaid amounts until the payment is made.
14: Return of Scooter. At the end of the Term, the Lessee must return the Scooter at its own expense, unless it buys the Scooter.
15: Lessor’s right of inspection. Lessor has the right to examine the Scooter during normal business hours.
16: The Parties’ rights and obligations will be passed on to successor organizations (if any), or other organizations to which rights and obligations may be permissibly assigned.
17: Option to purchase.
(a) The lessor and lessee agree that the Lessee buys the Scooter at the end of the Term at a price that equals the amount of the deposit if it performed all of its responsibilities under the Lease. If the Lessee does not want to do this, it needs to give written notice to the Lessor at least 60 days before the end of the Term. In that case the Lessor does not have the right to get back his deposit.
(b) The Lessee will pay the purchase price at the same date as the last monthly payment.
As agreed by Lessor and Lesse on …………………………… 2023.