Rent to Own Vehicle Agreement

Bevans Legacy Auto Co.

This Rent-to-Own Vehicle Agreement ("Agreement") is made between Bevans Legacy Auto Co LLC ("Owner") and the undersigned customer ("Renter"). This Agreement outlines the rental and conditional ownership terms of the vehicle described below. 

Liability Disclaimer

ALL VEHICLES ARE DEEMED SAFE, LEGALLY OPERABLE, AND MAINTAINED PRIOR TO DELIVERY.

Renter Responsibility for Vehicle Operation and Damages

The Renter acknowledges full responsibility for the operation of the vehicle during the rental period. The Owner shall not be held liable for any bodily injury, property damage, or loss arising from the Renter's operation of the vehicle, except as required by law. The Renter agrees to indemnify and hold harmless the Owner against any claims, liabilities, or expenses resulting from the use or misuse of the vehicle.

Insurance Requirements

Renter must maintain full coverage insurance (liability + collision + comprehensive) throughout the entire Rent-to-Own period.

Bevans Legacy Auto Co. LLC must be listed as a “Loss Payee” on the policy. Proof of insurance is required before possession of the vehicle and updated upon policy changes.

The Company (Owner) is not liable for any claims, damages, or losses not covered by the Renter’s insurance.

Failure to maintain coverage will result in immediate termination and repossession.

Insurance Coverage Acknowledgment

The Renter acknowledges that vehicle rental does not include insurance coverage by default. Renter has the option to purchase supplemental rental insurance with collision/damage waiver coverage through Bonzah, a third-party provider. It is the responsibility of the Renter to review, understand, and accept the terms provided by Bonzah before purchase.

Waiver of Liability

If Renter chooses to purchase insurance coverage through Bonzah or any third-party insurance provider, Renter agrees to hold Bevans Legacy Auto Co LLC. harmless from any disputes, delays, or claim denials that may arise from the third-party insurance provider. It is the Renter's responsibility to understand what is and is not covered under said policy. 

Purchase Terms & Payment Plan

The Renter agrees to pay weekly or monthly payments as agreed upon with management prior to signing as part of this Rent-to-Own contract.

Payments are due weekly, each Friday by 5 PM CST OR monthly by the 23rd by end of business day (5 PM CST). This is dependent upon the payment plan you have agreed upon with management.

A late fee of $75 is applied if it is paid AFTER the 23rd, regardless of the reason for late payment. There is no late fee waiver. 

First Payment Clause

The initial payment is due at contract signing and shall be applied to the first rental period of 10 days. This payment does not constitute a down payment toward ownership unless and until all rent-to-own requirements are met.

Fees

Late Fees:

A late fee of $75 will be applied if any monthly payment is not received on the 20th of each month.

For those who pay weekly, a $25 late fee is applied if it is not paid each Friday by 5 PM CST.

If notified in writing 24 hours prior to the due date, you will not incur the late fee as long as it is paid by 12 PM CST on the 24th for monthly or on Saturday for weekly. No exceptions. 

No interest will be charged.

Administrative Fee: 

A one-time, non-refundable administrative fee of $150 is included in the total payment amount. Payment must be paid prior to receiving vehicle and keys along with your deposit. This fee covers processing, registration, documentation, and other administrative costs associated with the rent-to-own agreement.

If this payment is NOT made upfront, it will be added to the overall balance of the vehicle. 

Buyout Option

Renter may purchase the vehicle outright at any time by paying the remaining balance PLUS applicable taxes and fees.

No additional fees will apply unless previously agreed upon in writing.

Title and Ownership

Title and ownership will not transfer to Renter until the full purchase amount is paid in accordance with this Agreement. Early payoff is allowed with no penalty. Until transfer, the vehicle remains the property of the Owner.

Title and ownership of the vehicle will be transferred within 20 business days after final payment is confirmed.

Use of Vehicle

• Only the Renter and any authorized, licensed drivers may operate the vehicle.

• Prohibited Uses: Racing, off-roading, towing, rideshare/delivery without written consent, illegal activity, or driving under the influence.

Default & Repossession

Any missed payment, failure to maintain insurance, or breach of Agreement terms will result in immediate termination of this Agreement and repossession of the vehicle without prior notice, as permitted under Tennessee law.

All payments made prior to default are non-refundable.

Renter forfeits any equity or claims to title until the full balance is paid and recovery fee will be assessed if tow is required to repossess vehicle.

Renter is responsible for all repossession fees, administrative fees, towing costs, storage, and any outstanding balances.

Maintenance & Repair Responsibility

From the date the vehicle is delivered to the Renter, all mechanical issues, routine maintenance expenses (e.g. oil changes, brakes, fluids, tires etc.), repairs, breakdowns, towing costs, and parts replacements are the full financial responsibility of the Renter, regardless of the cause of failure.

This includes major and minor repairs, including but not limited to:

engine, transmission, electrical, sensors, AC, heating, suspension, brakes, tires, alternator, battery, or any other component. Major repairs over $500 must be reported to Bevans Legacy Auto Co. but is still the financial responsibility of the renter.

AS-IS, NO WARRANTY CLAUSE

The Renter understands and agrees that the vehicle is being provided AS-IS, with all faults, and without any express or implied warranty. Bevans Legacy Auto Co. makes no guarantee, promise, or representation regarding the vehicle’s condition, performance, or future reliability.

The Renter accepts full responsibility for all mechanical issues that arise after delivery and acknowledges that no repairs or reimbursements will be provided by Bevans Legacy Auto Co. at any time.

No Expectation of Refunds or Credits Clause

All payments made under this Agreement are non-refundable. No repair issues, mechanical failures, or dissatisfaction with vehicle condition will qualify for payment refunds, adjustments, or credits.

Acceptance of Terms by Payment

Any payment made toward rent, deposit, or administrative fees constitutes acknowledgment and full acceptance of the terms in this Agreement, including AS-IS condition, repair responsibility, insurance obligations, and repossession rights.

GPS Tracking Disclosure

The vehicle contains a GPS tracking device used for security, asset protection, and recovery in case of breach.

Renter acknowledges and consents to continuous GPS monitoring.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Tennessee.

Right to Modify Agreement

Bevans Legacy Auto Co reserves the right to update or modify the terms of this Agreement as reasonably necessary to reflect changes in law, insurance requirements, or company policies.

Continued use of the rental vehicle and making payments after notice of such changes will constitute acceptance of the updated terms.

Renters may request a copy of the most current Agreement at any time.

Terms and Conditions

I, Christopher Bevans, as Owner of Bevans Legacy Auto Co., confirm that I have signed and agreed to this contract on today. This agreement becomes effective upon Renter's signature.