A Lease Vehicle Agreement is a legally binding contract between two parties – the “lessor” and the “lessee” – that outlines the terms by which a vehicle will be leased. In the agreement, the lessor agrees to rent the vehicle to the lessee for an agreed upon lease period and fee. The lessee is responsible for all maintenance costs, taxes, registration and insurance related to the vehicle during the term of the lease. Additionally, the lessee typically pays an upfront fee as well as monthly payments throughout the lease period. A Lease Vehicle Agreement must be carefully reviewed in order to understand all details associated with renting the vehicle.