Document background
The Vehicle Lease To Own Agreement is designed for situations where parties wish to structure a vehicle acquisition tHRough an initial lease period leading to eventual ownership. This arrangement is particularly relevant in Singapore's context, where vehicle ownership involves significant costs including COE considerations. The agreement provides a flexible alternative to traditional hire-purchase or direct purchase arrangements, allowing the lessee to use the vehicle while making progressive payments towards ownership. The document addresses key aspects required under Singapore law, including registration requirements, maintenance obligations, insurance specifications, and ownership transfer procedures. This type of agreement is commonly used by both individual and corporate lessees, providing a structured path to vehicle ownership while complying with all relevant Singapore regulations.
