Document background
The Car Residential Lease Agreement is essential for private vehicle leasing arrangements in Singapore's highly regulated automotive market. This document is specifically designed to comply with Singapore's unique vehicle ownership regulations, including COE requirements and LTA guidelines. It provides comprehensive coverage of lease terms, maintenance responsibilities, insurance requirements, and payment schedules while protecting both parties' interests. The agreement is particularly relevant given Singapore's high vehicle ownership costs and the growing preference for leasing over purchasing. It includes specific provisions for residential use, distinguishing it from commercial leasing arrangements.
