Sample Of Car Hire Purchase Agreement In Nigeria

9. If the rent is set by the tenant or landlord in accordance with point 6, the tenant must immediately return the vehicle to the landlord at the tenant`s expense. The determination of the hiring as such does not affect or affect the landlord`s claims against the tenant because of arrears or damages for violation of this agreement or his right to assert that claim through legal action or other means. Jumping from one bus to another is an added stress for already stressful life in the country. The long wait at the bus stop and the inconveniences on the bus reduce your productivity. Naijauto.com brings you everything you need to know to have your own car by renting your car. The interest rates on the lease-purchase vary depending on the type of vehicle and the issuers of loans. However, the prices of new cars are better. If you go for sale for used cars, you have to be very careful with the interest rate, because there could be hidden problems in the car that can result in costs.

And while the dealer, after satisfied with the solvency of the tenant, asked the owner to buy the vehicle described more precisely in the calendar below (hereafter the car) to leave it to the tenant as part of a lease-sale. 11. The tenant is required to pay all taxes, rates, taxes, royalties, royalties, fines or taxes, fines or taxes collected by the government or local authority or any other local authority for the vehicle in question and for this transaction. CONSIDERING that the owner is the owner of a motor vehicle described in the schedule and that the tenant overthrew the owner to rent the vehicle, to which the owner agreed and assured the tenant that he must have and enjoy that vehicle in peace. (8) The tenant may only use the vehicle in question for its private use and does not allow it to be used as a taxi or for commercial purposes. 10. The tenant and the surety execute as collateral a debt title with joint and several liability in favour of the owner for the total rent of the vehicle in question, and if the tenant makes a late payment equal to an amount owed under this contract, the landlord is entitled to transfer or negotiate that reference and the purchaser or holder takes the reference in question as being exempt from shares and title holders. timely. However, the law gives the owner the opportunity to protect the rental property in case of damage or depreciation if necessary.

The law provides that when three or more payments of the rental price of a motor vehicle are due and not paid under the agreement, the owner can remove the vehicle from all premises under its control in order to protect it from damage or depreciation and keep it pending a decision to take legal action. , but the landlord is responsible for losses incurred by the tenant or that may be caused by distance. 7. If the tenant is late in paying a monthly amount that is here for ……… Days after the agreement has expired or does not comply with the terms of this agreement, or if the tenant goes bankrupt or if a beneficiary of his property is designated, or if the necessity or execution is perceived against his property, or when the tenant can, authorize or accept or undergo an act, act or act or act in which the rights of the owner of that vehicle may be compromised or jeopardized. , the owner may, without prejudice to the requirement of late payment or damages for breach of this contract, terminate the undertaking without notice and repossess the said car, and it is reserved for the owner, his agents or agents, to go to all the premises where that car may be and seize it and take it into possession.