Terms and Conditions for Gbovo Vehicle Rent-to-Own Program
Introduction:
1.1 These Terms and Conditions (“Agreement”) govern the use of Gbovo’s Rent to Own Program (“Program”) available on our website.
Eligibility:
2.1 To participate in the Program, users must meet age, licensing, and financial criteria outlined during the application process.
2.2 Gbovo reserves the right to decline or terminate any application without providing a reason.
Payment Terms:
3.1 Payments are due weekly, with the option for deferred payments if eligible.
3.2 A late fee will be charged for payments not received by the due date.
3.3 Failure to make payments may result in vehicle repossession or termination of the Rent to Own agreement.
Vehicle Maintenance:
4.1 Customers are required to adhere to scheduled maintenance checks to ensure the vehicle’s proper functioning.
4.2 Gbovo will cover maintenance costs for normal wear and tear.
4.3 Negligence leading to extensive damage may result in charges to the customer.
Insurance:
5.1 All vehicles under the Program are covered by comprehensive insurance provided by Gbovo.
5.2 Customers must adhere to all terms and conditions outlined in the insurance policy.
Vehicle Usage:
6.1 The vehicle must be used solely for personal use and may not be subleased or used for commercial purposes.
6.2 Driving under the influence of alcohol or substances is strictly prohibited.
Early Termination:
7.1 Customers may terminate the Rent to Own agreement early, subject to a penalty.
7.2 The penalty amount is calculated based on the remaining term and outstanding balance.
Geographical Restrictions:
8.1 Customers must adhere to the designated geographical zone allocated for vehicle usage.
8.2 Commuting outside of the designated zone without permission may result in penalties or vehicle repossession.
Default and Repossession:
9.1 Defaulting on payments or breaching the terms of this Agreement may result in repossession of the vehicle.
9.2 Gbovo will follow legal procedures in the event of default or breach.
Modification of Terms:
10.1 Gbovo reserves the right to modify these terms and conditions at any time.
10.2 Customers will be notified of any changes, and continued use of the Program implies acceptance of the modified terms.
Governing Law:
11.1 This Agreement is governed by the laws of [Jurisdiction].
By participating in the Gbovo Rent to Own Program, you agree to abide by these terms and conditions. Gbovo reserves the right to take appropriate action in the event of non-compliance.