The Consumer Leasing Act (15 USC 1667 et. seq.) was passed to assure that meaningful and accurate disclosure of lease terms is provided to consumers before entering into a personal property lease. It applies to certain consumer leases of personal property. This form does NOT include such disclosures.
For any consumer lease subject to this Act, the lessor must disclose such information as the following:
" Description of property;
" Amount due at lease signing or delivery;
" Payment schedule and total amount of periodic payments;
" Disclosure of other anticipated charges during normal execution of the lease agreement;
" Total of payments;
" Payment calculation;
" Lease term;
" Early termination conditions and penalties;
" Maintenance responsibilities;
" Purchase option;
" Statement referencing "nonsegregated" disclosures;
" The right of appraisal;
" Liability at the end of the lease term;
" Fees and taxes;
" Insurance and warranties.
Description: A Wisconsin Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with the Option to Purchase and Own — Lease or Rent to Own offers individuals the flexibility to enjoy the latest gadgets, appliances, and accessories without the burden of upfront costs. This rental agreement allows Wisconsin residents to lease various consumer electronics, home appliances, and accessories for a specified period. Whether you need a new laptop, television, refrigerator, washer/dryer, or smartphone, this agreement caters to your needs and provides a convenient solution for acquiring high-quality items. This lease or rent-to-own option is an attractive choice for individuals who cannot afford to purchase these goods outright or prefer to test them before committing to ownership. The agreement includes essential details such as the duration of the lease, monthly payment amounts, maintenance responsibilities, and conditions for purchase if desired. Key terms and conditions may vary depending on the specific type of personal property being leased or rented. A few examples of different types of Wisconsin Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with the Option to Purchase and Own include: 1. Electronics Lease or Rent-to-Own Agreement: This type of agreement covers items such as smartphones, laptops, gaming consoles, televisions, cameras, and audio systems. It enables individuals to have the latest technology without the need for substantial upfront investment. 2. Home Appliances Lease or Rent-to-Own Agreement: This agreement focuses on appliances like refrigerators, washing machines, dryers, dishwashers, ovens, and microwaves. It offers an affordable option for individuals seeking quality appliances while retaining the choice to purchase them eventually. 3. Accessory Lease or Rent-to-Own Agreement: This category encompasses accessories such as headphones, smartwatches, fitness trackers, speakers, and other electronic peripherals. It allows individuals to enhance their overall experience by leasing or renting these add-on items at a fraction of the retail price. By entering into a Wisconsin Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with the Option to Purchase and Own — Lease or Rent to Own, individuals can enjoy the convenience and modernity of their desired items while maintaining financial flexibility. This agreement provides a value-driven solution for those in need of immediate access without the long-term commitment of ownership.
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.
