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.
Alameda California Lease or Rental Agreement of Personal Property of Any Type with Option to Purchase and Own Personal Property — Lease or Rent to Own A lease or rental agreement of personal property in Alameda, California, with an option to purchase and own personal property, allows individuals to enjoy the benefits of acquiring and using various types of items without the immediate need for outright ownership. This is particularly beneficial for individuals who require specific personal property for a specific period but may not be ready or able to purchase it outright. Below are different types of Alameda California lease or rental agreements for personal property with an option to purchase and own personal property: 1. Furniture Rental Agreement — This type of agreement allows individuals to lease furniture for a designated timeframe, typically on a monthly basis. At the end of the lease term, tenants have the option to purchase the furniture at a predetermined price. 2. Electronics Lease Agreement — People interested in leasing electronic devices such as televisions, computers, or smartphones can enter into this type of agreement. They can enjoy using the latest technology without committing to a long-term purchase. The lessee may have the opportunity to buy the leased electronic equipment at the end of the agreement. 3. Vehicle Lease Agreement — Car enthusiasts or individuals who require transportation for a fixed period can opt for a vehicle lease agreement. This allows them to use a vehicle without the initial burden of ownership. At the end of the lease term, the lessee can consider purchasing the vehicle at a predetermined value. 4. Appliance Rental Agreement — For those who need essential household appliances like refrigerators, washing machines, dryers, or microwaves, an appliance rental agreement provides a practical solution. At the end of the lease term, the tenant may have the option to buy the rented appliance. 5. Instrument Lease Agreement — Individuals looking to learn or explore a musical instrument can enter into an instrument lease agreement. This allows them to enjoy playing the instrument without the need for a significant upfront investment. Some lease agreements provide a rent-to-own option, giving the lessee the chance to acquire the instrument permanently. Regardless of the type of personal property, these lease or rental agreements with an option to purchase and own personal property offer flexibility, convenience, and affordability to residents of Alameda, California. They provide an opportunity for individuals to access desired items without the burden of full ownership, making them an appealing option for various purposes and scenarios.
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.
