What is the Consumer Leasing Act?

The Consumer Leasing Act is a law that is specific to the state of Washington and helps protect consumers from unfair and deceptive practices when it comes to leasing agreements. This law applies to any leasing agreement that involves items purchased through a retailer in Washington, such as furniture, electronics, or cars. It also applies to any agreement that has a cost of more than $50 and covers items for more than four months. Under the Consumer Leasing Act, the lessor – the person or entity that is leasing the items – must provide the lessee (the person or business leasing the items) with important information regarding the terms and the cost of the agreement. This includes the total of the lease payments, the amounts due at the beginning and end of the lease, any additional charges and fees, and any restrictions imposed on the lessee. The Consumer Leasing Act also requires the lessor to provide the lessee with a written copy of the lease agreement and a contract cancellation notice. The contract cancellation notice explains the lessee’s right to cancel the agreement at any time within three days of the lease agreement being signed. The lessor must also give the lessee the option to purchase the items at the end of the lease period. Overall, the Consumer Leasing Act helps ensure that consumers in Washington are protected from unfair and deceptive practices when leasing items from a retailer. This law establishes clear rights and responsibilities for both the lessor and the lessee, and helps ensure that consumers enter into leases with full information about the agreement and their rights as a lessee.

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What is the Consumer Leasing Act?

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