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.
A Lima Arizona lease or rental agreement of personal property with an option to purchase and own personal property, also known as a lease-to-own or rent-to-own agreement, provides individuals with a unique opportunity to acquire various types of personal property through a rental agreement. Types of Lima Arizona Lease or Rental Agreement of Personal Property: 1. Electronics Lease or Rental Agreement: This type of lease agreement allows individuals to rent or lease electronic devices such as smartphones, laptops, televisions, or gaming consoles with an option to purchase and own the equipment at the end of the agreed-upon term. 2. Furniture Lease or Rental Agreement: Individuals seeking to furnish their homes without committing to an immediate purchase can opt for a furniture lease or rental agreement. This agreement enables individuals to enjoy the use of furniture items, including couches, beds, tables, and chairs, while having the option to buy and own the furniture after the lease term. 3. Appliance Lease or Rental Agreement: With an appliance lease or rental agreement, individuals can rent or lease household appliances like refrigerators, ovens, washing machines, or dishwashers. This allows them to enjoy the benefits of these appliances while having the option to purchase and own them later. 4. Vehicle Lease or Rental Agreement: A lease-to-own agreement can also be applied to vehicles, providing an alternative to traditional vehicle financing options. Individuals can lease or rent vehicles like cars, motorcycles, or trucks, with the possibility of owning the vehicle at the end of the lease term. 5. Musical Instrument Lease or Rental Agreement: This type of agreement caters to individuals interested in learning new musical instruments without making an immediate investment. Individuals can lease or rent instruments such as guitars, keyboards, or drums, with an option to purchase and own the instrument later. 6. Gym Equipment Lease or Rental Agreement: For those who do not want to invest in expensive gym equipment upfront, a lease-to-own agreement offers the option to rent or lease exercise equipment like treadmills, ellipticals, or weightlifting machines. Customers can eventually purchase and own the equipment after completing the agreed-upon lease term. These various types of Lima Arizona lease or rental agreements of personal property with an option to purchase and own personal property provide individuals with flexibility and affordability as they acquire the items they need or 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.
