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Quebec Vehicle Lease Agreement Form


Quebec Vehicle Lease Agreement Form
Quebec Vehicle Lease Agreement Form
Equipped with (List):
LESSOR (“Dealer”): Name and Address
1. COST OF LEASE DISCLOSURE
a) Leased Vehicle Price (Includes amounts for additional equipment,
accessories, freight, pre-delivery inspection and air tax but does
not include GST or QST.) $ _______________________
b) Optional Extended Warranty + $ _______________________
c) Optional Life Insurance + $ _______________________
d) Optional Disability Insurance + $ _______________________
e) Other (Describe) ________________________ + $ _______________________
f) Lease Cost Subtotal = $ _______________________
g) Less: Cash Down Payment – $ _______________________
h) Trade-In Allowance $ __________________
i) Less: Lien Amount – $ __________________
j) Less: Net Trade-In Allowance [h) i)] – $ _______________________
k) Net Leased Vehicle Price = $ _______________________
l) Less: Option to Purchase (Section 6) – $ _______________________
m) Amount To Be Amortized = = $ _______________________
2. LEASE RATE AND CHARGES
a) Total Lease Charges
(Annual Lease Rate of _________%) $ _______________________
3. MONTHLY PAYMENT CALCULATION
a) Base Monthly Payment (1m + 2a) ÷ 3e $ _______________________
b) GST_______% on 3a + $ _______________________
c) QST_______% on 3a plus 3b + $ _______________________
d) Monthly Payment = $ _______________________
e) Number of Monthly Payments #__________________
f) Total of Monthly Payments (3d x 3e) $ _______________________
The term of this Lease is _____________ months. Your first Monthly Payment is due when you sign this
Lease. Your remaining ____________Monthly Payments of $ _________________ are due on the _______
day of each month thereafter. Payment of your Monthly Payment by credit card is not permitted.
4. TOTAL AMOUNT DUE UPON DELIVERY
a) First Monthly Payment (3d) $ _______________________
b) Refundable Security Deposit +$ _______________________
c) Cash Down Payment (1g) +$ _______________________
d) Net Trade-In Allowance (1j) +$ _______________________
e) GST _______% on 4c +$ _______________________
f) QST _______% on 4cplus 4e +$ _______________________
g) Registration Fee +$ _______________________
h) Publication Fee +$ _______________________
i) Other (Describe) _______________________ +$ _______________________
j) Other (Describe) _______________________ +$ _______________________
k) Other (Describe) _______________________ +$ _______________________
l) Other (Describe) _______________________ +$ _______________________
m) Total Due Upon Delivery =$ _______________________
5. TOTAL COST OF LEASE TRANSACTION
The total cost of the lease transaction upon scheduled termination if you do not elect to purchase the vehi-
cle (excluding all costs of returning the vehicle to good condition, excess kilometers charge under Section
7 and late payment charges under Section 25) shall be $________________ (3f+ 4m(4a+ 4b))
providing all terms and conditions are met.
6. OPTION TO PURCHASE
You have the option to purchase the vehicle without penalty if you are not in default under the terms of this
Lease. The purchase price at Lease maturity will be $___________________ (“Option to Purchase”) plus
any applicable taxes and all costs related to the registration and certification of the vehicle. To exercise
this Option to Purchase, please contact the Dealer at least fifteen (15) days prior to Lease maturity. If
you do not exercise your Option to Purchase under this Lease, you must immediately return the vehicle to
the Dealer who shall have the option to purchase the vehicle or return the vehicle to us and we may then
sell, dispose of, or deal with the vehicle in whatever manner we deem appropriate.
NEW OR USED OR DEMO YEAR
MAKE
MODEL VEHICLE IDENTIFICATION NUMBER
Primary Use of Vehicle:
o Personal, Family o Business
VEHICLE LEASE AGREEMENT
HONDA CANADA FINANCE INC.
In this lease agreement (this “Lease”), the words “consumer” (if not a company), “you” and “your” refer to the Lessee and any Co-Lessee(s). The words “we”, “us” and “our” refer to the Dealer and, once this Lease is
assigned, such words refer to Honda Canada Finance Inc. (“HCFI”).
This is an agreement to lease the vehicle described below with any attachments or accessories (the “vehicle”). This is a lease only. This is not a purchase agreement. You do not own the vehicle.
By signing this Lease you agree to lease the vehicle described below on the terms and conditions set out on the front and back of this Lease.
DELIVERY RECEIPT
You acknowledge that you have received and examined the vehicle described above. The vehicle is
equipped as described above and is in good operating order and condition and you accept it for all pur-
poses of this Lease.
Date: _________________________ Odometer: ___________________________________________________
Lessee’s Signature: __________________________________________________________________________
Co-Lessee’s Signature: _______________________________________________________________________
Co-Lessee’s Signature: _______________________________________________________________________
7. EXCESS KILOMETERS CHARGE
If you do not exercise your Option to Purchase the vehicle at Lease maturity, you agree to pay us an excess
kilometers charge of __________ cents per kilometer, plus applicable taxes, for each kilometer driven in
excess of __________________________ kilometers (the “Maximum Kilometer Allowance”). If the Lease is
terminated before maturity and you do not purchase the vehicle, the Maximum Kilometer Allowance will be
prorated for the period for which the Lease was in effect which may result in an additional charge to you.
8. INSURANCE
At all times during the term of this Lease, you must at your expense obtain and maintain the following
minimum insurance coverages through a recognized carrier:
a) Public liability for bodily injury or death or damage to the property of others for $1,000,000 per
claim regardless of the number of claims from any one accident;
b) Collision insurance with a maximum deductible of $1,000; and
c) Comprehensive fire and theft insurance with a maximum deductible of $1,000.
If you do not maintain the appropriate insurance coverages, we have the right, but not the obligation, to do
so and you will owe us such amount. The insurance coverage must be confirmed annually to HCFI.
The insurance policy must name us as an additional insured and loss payee under the
applicable insurance policy. The policy must also provide us with at least ten (10)days advance notice of
any cancellation, rescission or reduction of coverage. You assign to us any monies paid under the insur-
ance, by whomever obtained. You authorize us to receive or collect any money (including any refund of pre-
miums) made payable under the insurance, to complete any proof of loss and indemnity claim, to endorse
cheques or drafts relating to the payments, and to cancel the insurance or settle or release any claim with
respect to the insurance. If for any reason insurance is not fully maintained or coverage denied, you will
remain liable to us for all amounts owing under this Lease.
You authorize your insurance provider to disclose insurance policy details to us. Any repair in excess of
$2,000 requires our prior approval. You agree to allow us to inspect the vehicle at any reasonable time
and place after performing such repair. To ensure continued warranty coverage under the Honda/Acura
manufacturer’s warranty, only Honda/Acura Genuine Parts designed for the vehicle should be used for any
repair.
HCFI is hereby authorized, and you hereby appoint HCFI as your attorney-in-fact, to (i) make, settle and
adjust claims under such insurance, and (ii) receive all payments (including instructing the insurer to make
payment directly and solely to HCFI) and execute and endorse all cheques issued by an insurer as a con-
sequence of any loss.
You hereby assign to us any refund of premiums that may be payable to you or that you may receive, from
time to time, under any life insurance coverage or disability insurance coverage you may have subscribed
to pursuant to this Lease, as the case may be (Section 1 c) and d) above), and agree to remit any such
refund of premiums you may have received to us.
9. SECURITY DEPOSIT
Your Security Deposit will not earn interest. The Security Deposit will be retained by us during the term of
this Lease as additional security for the performance by you of your obligations under this Lease. We will
deduct any amounts not paid by you under this Lease from your Security Deposit and the balance, if any,
will be refunded to you at the end of this Lease. The Security Deposit does not constitute a deposit under
the Deposit Insurance Act (R.S.Q., c. A-26).
10. OFFICIAL FEES AND TAXES
You agree to pay all fees, charges or taxes assessed in respect of the Lease or vehicle by any government
authority. We have the right but not the obligation to pay any or all such fees, charges and taxes on your
behalf and you will owe us such amount. We may change your Monthly Payment without prior notice in the
event of an increase or decrease in applicable federal and provincial taxes.
11. USE OF VEHICLE
You must not use or permit the use of the vehicle: (a) for any unlawful purpose or in violation of any law; (b)
for any commercial purpose including, without limitation, for the purpose of delivery of any goods or other
items or transportation of any persons; (c) by unlicensed or uninsured drivers; (d) or garage the vehicle
outside Canada for a period exceeding thirty (30) days without our prior written consent; (e) in a way that
causes cancellation, rescission or suspension of insurance or causes the manufacturer’s warranty to
become void; (f) to pull trailers that exceed the manufacturer’s specifications, or (g) in such a way that the
vehicle could be seized or confiscated. Furthermore, you will not permit or cause any person whose licence
is under suspension to operate the vehicle. The operation of the vehicle by a person whose driver’s licence
is under suspension shall constitute a default under this Lease and we may repossess the vehicle in addi-
ton to taking such other actions as we may elect under this Lease. You agree to reimburse us for all dam-
ages (including all costs and expenses) incurred by us as a result of you or another person operating the
vehicle with a suspended driver’s licence.
12. WARRANTY
The vehicle is subject only to the manufacturer’s warranty and/or any extended warranties purchased by
you. Subject to any restriction imposed by law, we do not offer any warranty on the vehicle and we are not
responsible for the performance of any dealer services.
In addition, to the extent that the vehicle is still subject to the manufacturer’s new vehicle warranty and/or
any extended warranty purchased by you, you assign to us all rights and remedies under the warranty to
the extent they are assignable. The manufacturer’s warranties are set out in the owner’s manual included
with the vehicle.
The Honda/Acura manufacturer’s warranty does not cover parts that have not been made by Honda or
supplied by Honda or any damage or failure resulting from the use of such parts. To ensure continued war-
ranty coverage, only Honda/Acura Genuine Parts designed for the vehicle should be used for any repair or
maintenance.
13. MAINTENANCE, REPAIRS AND INSPECTION / RETURN OF VEHICLE
You agree to maintain, service, and repair the vehicle at your own expense. You agree to follow the owner’s
manual and maintenance schedule and to make all necessary repairs. You also agree to comply with the
manufacturer’s request in any recall campaign so as to keep the manufacturer’s warranty in effect. You will
not alter, mark, remove, or install equipment in the vehicle without our prior written consent. All costs
incurred in restoring the vehicle to good working condition and appearance will be your responsibility. You
agree to allow us to inspect the vehicle at any reasonable time and place. An inspection will not be required
if the Dealer or you purchase the vehicle at the end of the Lease. You agree to return the vehicle to the
Dealer (or any other place specified by us) at the end of the Lease.
14. EXCESS WEAR AND TEAR
Normal wear and tear is anticipated during the term of this Lease, however, you will pay the estimated cost
for all damage to the vehicle that is not normal wear and tear.
SEE OVERLEAF
HCFI (06/04) VLA 1012-E PQ
GST Number: QST Number: Licence Number:
LESSEE: Full Legal Name and Address
Date of Birth: / /
GST Number (if applicable): QST Number (if applicable):
HCFI PRE-AUTHORIZED DEBIT PLAN (“PADP”). Payment can be withdrawn from chequing/savings account ONLY.
You (which includes any other account signatory) hereby request and authorize HCFI to make withdrawals from, and the financial institution identified below (the “Bank”) to debit, your account identified below or
any other account which you from time to time, may identify to HCFI for payment of all amounts due under the within Lease by any means agreed to between HCFI and the Bank or to draw cheques by means of
facsimile signature to your account payable to HCFI under this PADP. You also request and authorize the Bank to debit your account for all such cheques or other withdrawals. The authorization may be cancelled
at any time by HCFI or by you upon ten (10) days’ written notice. Delivery of this authorization to HCFI constitutes delivery by you.
Financial Institution: _________________________________________________________ Transit Number:______________________________________ Account Number: ______________________________________
Lessee’s Signature: _________________________________________________________ Other Account Signatory: ____________________________________________________________________________________
All account signatories must sign if more than one signature is required to operate the account.
NOTE: YOU MUST ATTACH A SAMPLE CHEQUE MARKED “VOID”
Day Month Year
CO-LESSEE: Full Legal Name and Address CO-LESSEE: Full Legal Name and Address
Date of Birth: / /
GST Number (if applicable): QST Number (if applicable):
Day Month Year
Date of Birth: / /
GST Number (if applicable): QST Number (if applicable):
Day Month Year
134497E.qxd 6/16/04 2:50 PM Page 1
Quebec Vehicle Lease Agreement Form
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