Fill and Sign the Vehicle Leasing Federal Reserve Form

- 1 - Federal Consumer Leasing Act Disclosures Date: _________________ Lessor(s) ___________________________________________ Leasee(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 $___________ Total of Payments (The amount you will have paid by the end of the lease) $ ______________ *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 noncash 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 trace-in allowance, rebate, noncash 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 items paid over the lease term ..………………………………………………………….… = _________________ Rent charge. The amount charged in addition to the depreciation and any amortized amounts…..………….. + _________________ Total of base monthly payments. The depreciation and any amortized amounts plus the rent charge…...….. = _________________ Lease term. The number of months in your lease………………………………….………………………..… / _________________ Base monthly payment ……………………………………………………………………………………..…. = _________________ Monthly sales/use tax ………………………………………………………………………………..…………. + _________________ _________________ ……………………………………………………………………………..………….…. + _________________ Total monthly payment ……………………………………………………………………………………... = $_________________ 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.] - 2 - 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. [The following provisions are the nonsegregated disclosures required under Regulation M.] Description of leased property Year Make Model Body Style Vehicle ID # Official Fees and Taxes. The total amount you will pay for official and license fees, registration, title, and taxes over the term of your lease, whether included with your monthly payments or assessed otherwise: $ ______________________ . Insurance. The following types and amounts of insurance will be acquired in connection with this lease: _________________________________________________________________________________________________________ _______________ We (lessor) will provide the insurance coverage quoted above for a total premium cost of $ __________ _______________ You (lessee) agree to provide insurance coverage in the amount and types indicated above. Standards for Wear and Use. The following standards are applicable for determining unreasonable or excess wear and use of the leased vehicle:__________________________________________________________________________________________________________ Maintenance. [You are responsible for the following maintenance and servicing of the leased vehicle:_________________________________________________________________________________________________________ ] [We are responsible for the following maintenance and servicing of the leased vehicle: _________________________________________________________________________________________________________ ] Warranties. The leased vehicle is subject to the following express warranties: __________________________________________________________________________________________________________ Early Termination and Default . (a) You may terminate this lease before the end of the lease term under the following conditions: __________________________________________________________________________________________________________ The charge for such early termination is: __________________________________________________________________________________________________________ (b) We may terminate this lease before the end of the lease term under the following conditions: __________________________________________________________________________________________________________ Upon such termination we shall be entitled to the following charge(s) for: __________________________________________________________________________________________________________ (c) To the extent these charges take into account the value of the vehicle at termination, if you disagree wit h the value we assign to the vehicle, you may obtain, at your own expense, from an independent third party agreeable to both of us, a professional appraisal of the ____________________ value of the leased vehicle which could be realized at sale. The appraised value shall then be use d as the actual value. Security Interest. We reserve a security interest of the following type in the property listed below to secure performance of your obligations under this lease: __________________________________________________________________________________________________________ Late Payments. The charge for late payments is: _________________________________________________________________ - 3 - Option to Purchase Leased Property Prior to the End of the Lease. [You have an option to purchase the leased vehicle prior to the end of the term. The price will be [$ ____________________ /[the method of determining price].] [You do not have an option to purchase the leased vehicle.]