Consumer lease means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed $25,000.00.
Consumer lease means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose.
Consumer lease means a lease of goods:
Examples of Consumer lease in a sentence
Which is for a term exceeding four (4) months.(b) "Consumer lease" does not include a lease made pursuant to a lender credit card or similar arrangement.
Section 213.2(e)(1) is revised to read as follows: § 213.2 Definitions.* * * * *(e)(1) Consumer lease means a contract in the form of a bailment or lease for the use of personal property by a natural person primarily for personal, family, or household purposes, for aSupplement I to Part 213—Official Staff Commentary to Regulation M* * * * *Section 213.2—Definitions* * * * *2(e) Consumer Lease.* * * * *fl9.
Consumer lease payments can constitute up to 80–90 per cent of a client’s fortnightly income.
Consumer lease information in advertisements is available to the public.
Consumer lease arrangements are common for our clients experiencing financial hardship, especially in regional and remote Aboriginal communities.
More Definitions of Consumer lease
Consumer lease means a contract in the form of a bailment or lease for the use of personal property by a natural person primarily for personal, family, or household purposes, for a period exceeding four months and for a total contractual obligation not exceeding the applicable threshold amount, whether or not the lessee has the option to purchase or otherwise become the owner of the property at the expiration of the lease, as set forth in Section 213.2 of Regulation M, 12 C.F.R. § 213.2, as amended.
Consumer lease means a con- tract in the form of a bailment or lease for the use of personal property by a natural person primarily for personal, family, or household purposes, for a pe- riod exceeding four months and for a total contractual obligation not ex- ceeding the applicable threshold amount, whether or not the lessee has the option to purchase or otherwise be- come the owner of the property at the expiration of the lease. The threshold amount is adjusted annually to reflect increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as applicable. See the official staff commentary to this paragraph (e) for the threshold amount applicable to a specific consumer lease. Unless the context indicates otherwise, in this part ‘‘lease’’ means ‘‘consumer lease.’’(2) The term does not include a lease that meets the definition of a credit sale in Regulation Z (12 CFR 226.2(a)). It also does not include a lease for agri- cultural, business, or commercial pur- poses or a lease made to an organiza- tion.(3) This part does not apply to a lease transaction of personal property which is incident to the lease of real property and which provides that:
Consumer lease or “lease” means a lease entered into in this state that transfers the right of possession and use by a natural person of a motor vehicle primarily for a personal, family, house- hold or agricultural purpose, for a period of time exceeding 4 months, if the total lease obligation, excluding any option to pur- chase or otherwise become owner of the motor vehicle at the expi- ration of the consumer lease, does not exceed $25,000. The term does not include a credit sale, as defined under 12 CFR 226.2 (a) (16).
Consumer lease means a lease of goods which a mer- chant makes to a customer for a term exceeding 4 months.
Consumer lease means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed the dollar amount designated in section 537.1301, subsection 14.
Consumer lease means a lease that a lessor
Consumer lease means a lease of goods to a consumer by a lessor for personal, family or household purposes, which is for a term exceeding 4 months and which is not made pursuant to a lender credit card. [PL 1985, c. 763, Pt. A, §68 (NEW).]