Ingersoll Ventures LLC

Private vehicle rental agreement

Draft template · Effective date to be completed before use

This private vehicle rental agreement is intended for use between Ingersoll Ventures LLC (“Owner”) and the approved renter identified in the final reservation confirmation (“Renter”). The final signed agreement, reservation confirmation, and written changes control over this draft.

1. Vehicle, term, and authorized drivers

Owner will provide the vehicle, dates, pickup or delivery location, daily rate, included mileage, selected optional perks, fuel level, and return instructions in the reservation confirmation. Only the approved renter and drivers listed in writing may operate the vehicle. Renter may not transfer, sublet, lend, or permit an unapproved person to drive.

2. Eligibility and verification

Renter must be at least 18 and provide a valid driver’s license, proof of full-coverage insurance, and a clear photo of Renter holding the license. Owner may decline a request or cancel before handoff if verification, insurance, payment, deposit, or safety requirements are not satisfied.

3. Rates, deposit, mileage, and fuel

The reservation confirmation controls the rate. Current listed rates are BMW 3 Series $180/day, Cadillac Escalade Platinum $200/day, and BMW 550i $220/day. Included mileage is 350 miles/day for the 3 Series and Escalade and 200 miles/day for the 550i. Additional mileage is $0.50 per mile unless the unlimited-mileage option is confirmed at $50 per rental day. A $150 security deposit is required. The deposit is refundable up to 24 hours before the trip, subject to lawful deductions for damage, loss, fees, or other amounts owed under the final agreement. Unless the $100 return-at-any-fuel-level option is confirmed, Renter must return the vehicle with the required fuel level; a $20 inconvenience charge plus fuel costs may apply.

4. Care and prohibited use

Renter must use reasonable care and obey all laws. No smoking or vaping, pets, racing, drifting, burnouts, impaired driving, illegal activity, towing, off-road use, unauthorized commercial or rideshare use, or other reckless or abusive use is permitted. Owner may terminate the rental and recover the vehicle if the vehicle is misused or safety is threatened.

5. Damage, tickets, and reporting

Renter is responsible for damage, loss, theft, tickets, tolls, impound fees, missing keys or accessories, cleaning beyond ordinary use, and other costs caused during the rental, subject to applicable law and the final agreement. Renter must promptly report accidents, warning lights, mechanical problems, theft, or damage and must not authorize repairs without written approval except when reasonably necessary for immediate safety.

6. Return and late fees

Renter must return the vehicle, keys, and accessories to the agreed location at the agreed time. Late return is $50 per hour unless waived in writing. Excessive cleaning may be charged at $200. Smoking may result in a $250 fee. Any delivery or airport fee is confirmed separately based on distance and trip details.

7. Insurance and responsibility

Renter must maintain the insurance required in the reservation confirmation. If an approved alternative coverage option is offered, it costs $25 per day. Renter remains responsible for truthful information, authorized use, and obligations not covered by insurance.

8. Governing law and written changes

Oklahoma law governs this agreement to the extent permitted by law. Any change, waiver, or extension must be in writing and confirmed by Owner. If a provision is unenforceable, the remaining provisions remain effective to the extent allowed by law.

This is a customizable business draft, not legal advice. Have an Oklahoma attorney review it before using it with renters, especially for deposits, insurance, liability, cancellation, and electronic signatures.