What is the Consumer Leasing Act?

The Consumer Leasing Act is a Kansas law that establishes consumer protection regulations for leases of personal property not secured by real estate. Leasing is a type of financing that allows customers to use a product without actually owning it. Under the law, all parties involved in leasing agreements must be given disclosures about the details of the agreement, including the full amount of the lease payments, how and when they’re due, and any other fees that may apply. The disclosures must also include information about the customer’s right to terminate the lease early and the lessor’s obligation to refund or rebate part of the payments for early termination. The law also prohibits certain types of deceptive practices in lease agreements, such as false or misleading advertising or adding extra charges without the customer’s knowledge. In addition, it requires lessors to provide a copy of the agreement to the customer when the lease is executed. Overall, the Consumer Leasing Act helps ensure that consumers in Kansas are treated fairly and are well-informed when entering into leasing agreements.

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What is the Consumer Leasing Act?

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