1. Parties: Identifies and provides full details of the lessor/seller and lessee/buyer, including business/individual status and contact information
2. Background: Establishes the context of the agreement, including the lessor's ownership of the vehicle and the lessee's desire to lease with intention to purchase
3. Definitions: Defines key terms used throughout the agreement including but not limited to Lease Period, Purchase Option, Monthly Payments, and Residual Value
4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, registration number, and current condition
5. Lease Term and Payments: Specifies the duration of the lease, payment amounts, payment schedule, and total cost including the final purchase option price
6. Purchase Option Terms: Details the conditions and process for exercising the purchase option, including the final payment amount and transfer of ownership procedure
7. Insurance Requirements: Specifies required insurance coverage, responsible party for insurance, and claims procedures
8. Maintenance and Repairs: Outlines responsibilities for vehicle maintenance, repair obligations, and condition requirements
9. Use of Vehicle: Stipulates permitted uses, geographic restrictions, and any limitations on vehicle use
10. Default and Termination: Describes events of default, termination procedures, and consequences of early termination
11. Transfer of Title: Specifies the process and requirements for transferring vehicle ownership upon completion of payments
12. Representations and Warranties: States the representations and warranties made by both parties regarding the vehicle and agreement
13. General Provisions: Includes standard contract clauses such as governing law, notices, amendments, and assignment rights
