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.
A New Hampshire 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 legally binding contract that enables individuals in New Hampshire to lease or rent various consumer electronics, home appliances, and accessories with the option to eventually purchase and own the items. This agreement allows individuals to enjoy the benefits of using these items without having to make an upfront purchase. There are several types of Personal Property Lease or Rental Agreements available in New Hampshire: 1. Consumer Electronics Lease or Rental Agreement: This type of agreement specifically focuses on leasing or renting consumer electronics such as televisions, smartphones, laptops, gaming consoles, and audio systems. It allows individuals to access and use these items for a specified period. 2. Home Appliances Lease or Rental Agreement: This type of agreement primarily deals with the lease or rental of home appliances like refrigerators, washers, dryers, dishwashers, ovens, and microwaves. It provides individuals with the convenience of using these appliances without the need for outright purchasing. 3. Accessory Lease or Rental Agreement: This agreement concentrates on leasing or renting various accessories that complement consumer electronics or home appliances. It includes items such as earphones, chargers, cables, remote controls, kitchen utensils, and other miscellaneous accessories. The highlight of this Lease or Rent to Own agreements is the option for individuals to eventually purchase and own the leased items. This option serves as a convenient pathway for individuals who may wish to keep the items permanently after experiencing their benefits during the leasing period. By exercising the option to purchase, individuals can convert the lease or rental agreement into an ownership agreement. Keywords: New Hampshire, Personal Property Lease, Rental Agreement, Consumer Electronics, Home Appliances, Accessories, Option to Purchase, Lease or Rent to Own.
