The following lease agreement form is meant to be used by one individual dealing with another individual or a commercial transaction between non-consumers. It therefore does not contain disclosures required by the Federal Consumer Leasing Act.
The Federal Consumer Leasing Act, which is part of the Truth in Lending Act, applies to any lease of consumer goods for more than four months in which the total contractual obligation does not exceed $25,000. (It does not apply to leases of real estate.) This law requires the lessor (the owner of the auto you lease, for example) to disclose information before you sign the lease. Among the most important items are
" the capitalized cost -- that is, the cost of the goods being leased (the capitalized cost is negotiable to the same extent that the price of goods is negotiable if you were buying them instead of leasing them);
" the total amount of any initial payment you are required to pay;
" the number and amounts of monthly payments;
" the total amount for fees, such as license fees and taxes;
" any penalty for default or late payments;
" the annual mileage allowance and the extra charges involved if you exceed that allowance;
" whether you can end the lease early, and the method of computing the charge if you do so;
" whether you can purchase the auto at the end of the lease and for what price;
" any liability that you may have for the difference between the estimated value of the auto and its market value at the time you end the lease; and
" any extra payment that you must make at the end of the lease.
Washington Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property — Lease or Rent to Own Are you looking for an exciting opportunity to acquire personal property in Washington? Look no further than the Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property — Lease or Rent to Own. This innovative agreement provides individuals with the chance to lease or rent personal property of any type while having the option to eventually purchase and own it. Whether you're interested in renting appliances, electronics, furniture, or even vehicles, this lease agreement offers you flexibility and convenience like never before. Key Features of Washington Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property — Lease or Rent to Own: 1. Wide Range of Options: This lease agreement covers personal property of any type, giving you the freedom to choose from various categories like home appliances, electronic gadgets, furniture, automobiles, and more. Whatever you require, this agreement ensures that you have access to the items you need. 2. Flexibility in Decision-making: Unlike traditional rentals, the Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property offers the flexibility to decide whether you want to eventually own the leased property or return it at the end of the lease term. You have the power to choose your path based on your needs and circumstances. 3. Opportunity for Ownership: This agreement introduces the option to purchase personal property at the end of the lease term. With each monthly payment, a portion can be allocated towards the purchase price, allowing you to gradually acquire ownership of the item you desire. This can be a great opportunity for individuals looking to save towards ownership without making an immediate full payment. 4. Affordable Monthly Payments: The Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property provides affordable monthly payments designed to fit your budget. These payments can be much more manageable compared to a lump-sum purchase, making it easier for you to enjoy the benefits of your chosen personal property. 5. No Long-Term Commitment: This lease agreement offers a shorter lease term compared to traditional rental agreements, giving you flexibility and adaptability. If your needs change at any point during the lease term, you have the option to end the agreement or explore alternative personal property options. Types of Washington Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property — Lease or Rent to Own: 1. Household Items Agreement: This agreement covers personal property commonly found in households, such as appliances, furniture, and home electronics. 2. Electronics and Gadgets Agreement: A specific lease agreement catering to technology enthusiasts, allowing you to access the latest gadgets and electronics without the need for an upfront purchase. 3. Vehicle Rental Agreement: If you are in need of a vehicle but prefer a lease-to-own option, this agreement provides the opportunity to enjoy the convenience of personal transportation while on the path to ownership. In conclusion, the Washington Lease or Rental Agreement of Personal Property with Option to Purchase and Own Personal Property — Lease or Rent to Own is a game-changer, offering individuals the chance to lease or rent personal property of any type with the ultimate goal of ownership. With flexible terms, affordable payments, and various types of agreements to suit your specific needs, this lease option is a fantastic opportunity for those seeking convenience, affordability, and the dream of eventually owning the personal property they desire.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
