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.
Oakland Michigan 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 in the Oakland, Michigan area with the opportunity to lease or rent consumer electronics, home appliances, and accessories with the option to eventually purchase and own them. This agreement offers flexible terms and allows customers to enjoy the latest technology and convenience without the significant upfront costs associated with buying the products outright. The Oakland Michigan Personal Property Lease or Rental Agreement allows residents to access a wide range of consumer electronics such as smartphones, laptops, tablets, televisions, gaming consoles, and audio systems. Additionally, a variety of home appliances like refrigerators, washing machines, dishwashers, and microwaves are available for lease or rent. One type of lease agreement under this program is the "Electronics Lease or Rent to Own" option, where individuals can lease or rent a variety of electronic gadgets. This agreement allows customers to use the latest technology without being tied down to long-term ownership commitments. Another type is the "Home Appliance Lease or Rent to Own" agreement, which focuses exclusively on providing individuals with the option to lease or rent home appliances such as refrigerators, washing machines, and dishwashers. This allows residents to enhance the functionality and convenience of their homes without the need for a significant upfront investment. The "Consumer Electronics and Home Appliance Lease or Rent to Own" agreement is a comprehensive option that combines both consumer electronics and home appliances, offering customers the ability to lease or rent a wide range of products according to their specific needs and preferences. This agreement is suitable for individuals who require both electronic devices and home appliances and want the convenience of a single lease agreement. All Oakland Michigan Personal Property Lease or Rental Agreements of Consumer Electronics, Home Appliances, and Accessories with the Option to Purchase and Own — Lease or Rent to Own come with the added advantage of flexible payment options. Customers can choose weekly, bi-weekly, or monthly payment plans, making it easier to manage their budgets and enjoy the products they desire. The agreements also provide the opportunity to purchase the leased items at a predetermined price, giving customers the chance to eventually own the products they have leased and enjoyed. Lease or rent to own options like those offered through the Oakland Michigan Personal Property Lease or Rental Agreements allow individuals to access and enjoy high-quality consumer electronics and home appliances without the burden of upfront costs. With flexible terms and the opportunity to eventually own the leased items, residents in Oakland, Michigan can easily enhance their lives and meet their technological and household needs.
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.
