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.
San Jose, California Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with Option to Purchase and Own — Lease or Rent to Own: A Personal Property Lease or Rental Agreement in San Jose, California provides individuals with the opportunity to lease or rent various consumer electronics, home appliances, and accessories, while also offering an option to purchase and own the leased items through a lease-to-own or rent-to-own arrangement. This type of agreement allows individuals to enjoy the latest gadgets and modern appliances without the burden of purchasing them outright. Some common types of San Jose, California Personal Property Lease or Rental Agreements of Consumer Electronics, Home Appliances, and Accessories with the option to purchase and own are: 1. Consumer Electronics Lease or Rental Agreement: This agreement allows individuals to lease or rent popular consumer electronics such as smartphones, tablets, laptops, televisions, gaming consoles, and audio systems. Through this agreement, individuals can use the latest technology and upgrade their devices as new models become available. 2. Home Appliances Lease or Rental Agreement: This agreement enables individuals to lease or rent essential home appliances like refrigerators, washing machines, dryers, dishwashers, ovens, and microwaves. It provides flexibility for individuals who may have temporary housing situations or prefer not to invest in costly appliances upfront. 3. Accessories Lease or Rental Agreement: Under this agreement, individuals can lease or rent additional accessories for their consumer electronics or home appliances. This may include items such as camera lenses, soundbars, home automation devices, vacuum cleaner attachments, or specialized kitchen equipment. In all these lease or rental agreements, the option to purchase and own the leased items is a key component. This means that individuals have the opportunity to buy the leased items at the end of the agreed-upon rental term, often with a portion of their rental payments going towards the purchase price. By offering these different types of lease or rental agreements, individuals in San Jose, California can enjoy the convenience, flexibility, and affordability of using various consumer electronics, home appliances, and accessories without the need for a large upfront investment. They can optimize their lifestyle and upgrade their possessions as per their needs, all while having a pathway 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.
