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.
Title: San Diego 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 Introduction: In San Diego, California, individuals have the opportunity to enter into a Personal Property Lease or Rental Agreement for a wide range of consumer electronics, home appliances, and accessories. This flexible agreement offers the option to lease or rent to own, providing residents with convenient access to high-quality products without bearing the full cost upfront. By exploring different types of agreements available, San Diego residents can find the perfect solution to suit their needs. 1. Personal Property Lease Agreement: — This type of agreement allows individuals to lease consumer electronics, home appliances, and accessories for a fixed period. The lessee gains immediate access to the desired items while making regular monthly payments. At the end of the lease term, the lessee can choose to return the items, extend the lease, or exercise the option to purchase and own the leased property. 2. Rent to Own Agreement: — The rent to own agreement provides an alternative option for individuals who aim to eventually own the consumer electronics, home appliances, and accessories they are leasing. Similar to the personal property lease agreement, the lessee makes monthly payments. However, a portion of each payment is allocated towards the purchase price. Upon completing the agreed-upon term, the lessee can either buy the items outright or continue making payments until full ownership is achieved. 3. Consumer Electronics Lease or Rental Agreement: — This specific type of lease or rental agreement caters to individuals seeking access to a variety of top-of-the-line consumer electronics. Whether it's the latest smartphones, televisions, laptops, or gaming consoles, San Diego residents can enter into a lease agreement to enjoy the latest devices without the need for a large upfront investment. 4. Home Appliances Lease or Rental Agreement: — San Diego residents can lease or rent home appliances such as refrigerators, dishwashers, washing machines, and more. This type of agreement is ideal for those who want to upgrade or replace their household appliances without incurring the cost of purchasing them outright. 5. Accessories Lease or Rental Agreement: — For those looking for a temporary solution or wanting to try out different accessories, this agreement allows individuals to lease or rent items such as speakers, headphones, cameras, and other related accessories. This option provides flexibility and affordable access to a wide range of accessories to enhance various personal electronic devices. Conclusion: San Diego California's Personal Property Lease or Rental Agreement for Consumer Electronics, Home Appliances, and Accessories with the option to purchase and own offers a practical option for residents to access and enjoy a range of products without breaking the bank. Whether a personal property lease, rent to own agreement, or specific lease types for electronics, appliances, or accessories, San Diego residents have various options to choose from to meet their specific needs.
