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The Rent To Own Car Contract is designed for use in Malaysia when a party wishes to acquire a vehicle through an initial rental period with the option to purchase. This arrangement provides flexibility for consumers who prefer to test the vehicle before committing to a purchase, while also potentially building equity through their rental payments. The document complies with Malaysian legislation, including the Hire-Purchase Act 1967, Road Transport Act 1987, and Consumer Protection Act 1999. It includes essential provisions for vehicle identification, payment terms, maintenance responsibilities, insurance requirements, and the mechanism for converting the rental arrangement into a purchase. This type of contract is particularly useful for dealerships offering alternative financing options and for consumers who may not qualify for or desire traditional vehicle financing.

1. Parties: Identification of the vehicle owner/dealer and the potential purchaser, including full legal names, identification numbers, and addresses

2. Background: Context of the agreement, explaining the rent-to-own arrangement and the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement, including 'Rental Period', 'Purchase Option', 'Vehicle', etc.

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration number

5. Rental Terms: Details of the rental period, monthly payments, payment schedule, and payment methods

6. Purchase Option: Terms and conditions for exercising the purchase option, including purchase price calculation and credit for rental payments

7. Vehicle Use and Restrictions: Permitted uses of the vehicle, geographical restrictions, and prohibited activities

8. Maintenance and Repairs: Responsibilities for vehicle maintenance, repair obligations, and inspection requirements

9. Insurance Requirements: Mandatory insurance coverage, responsibility for premiums, and claims procedures

10. Default and Termination: Events of default, consequences, and termination procedures

11. Return of Vehicle: Conditions and procedures for vehicle return if purchase option is not exercised

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction

13. Signatures: Execution block for all parties and witnesses as required by Malaysian law