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.
Kings New York Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with Option to Purchase and Own — Lease or Rent to Own is a comprehensive and convenient leasing solution that allows individuals to access and enjoy a wide range of consumer electronics, home appliances, and accessories without the need for an upfront purchase. This flexible agreement offers various types of lease or rent-to-own options tailored to meet customers' needs and preferences. 1. Consumer Electronics Lease or Rent to Own: — This type of lease agreement allows customers to lease or rent popular consumer electronics such as smartphones, laptops, gaming consoles, televisions, and audio systems. With the option to purchase and own, individuals can choose to upgrade their devices or buy them at the end of the lease period. 2. Home Appliances Lease or Rent to Own: — Kings New York also offers lease or rent-to-own options for a wide array of home appliances, including refrigerators, washing machines, dryers, dishwashers, ovens, and microwave ovens. This allows customers to enjoy the convenience and benefits of modern appliances without committing to a long-term purchase. 3. Accessory Lease or Rent to Own: — In addition to consumer electronics and home appliances, Kings New York provides lease or rent-to-own options for various accessories that complement and enhance the functionality of these devices. This may include items such as wireless headphones, smart home devices, speakers, camera lenses, and more. 4. Specialized Lease or Rent to Own Agreements: — Kings New York understands that different customers have unique requirements. Therefore, they offer specialized lease or rent-to-own agreements to cater to specific needs. This may include agreements for small businesses, educational institutions, event organizers, or individuals with specific preferences or circumstances. The Kings New York Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with Option to Purchase and Own — Lease or Rent to Own provides individuals with the flexibility to enjoy the latest technologies and appliances without a substantial upfront investment. Whether it's upgrading to the latest gadgets, equipping a new home, or trying out new accessories, this agreement offers convenience, affordability, and the option to transition to 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.
