Sale on lease

Sale on lease – this legal term finds application in the Commercial Law, where details the sale of products (vehicles, for example), where the trader and the customer sign a specific agreement, called “lease contract”, under the clauses of which the price will be paid on equal monthly installments, and once paid totally, then the ownership will be transferred towards the buyer. Until then, the trader remains legal owner of the vehicle, and the buyer only receives temporary possession to use it until they pay the total price for buying this vehicle. In the practice there are many versions of the lease procedures. Some are related with monthly installments for particular term, and once the term is over, another, brand new item is leased to the lease recipient for their usage for new term.

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