A lease-sale (HP), , also known as a increments plan or never-never-before, is an agreement by which a customer accepts a contract to acquire an asset by paying an upfront amount (for example. B 40% of the total) and refunds the balance of the assets plus interest over a given period. Other similar practices are described as a closed lease or a lease-to-own. When a consumer returns defective goods, he is entitled to reimbursement of payments paid as consumer rights in this situation, as if the goods had been purchased directly. Leases are similar to leases that give the lessor the ability to buy at any time during the agreement, such as . B car rental. Like rent, rental purchases can benefit consumers with bad credit by spreading the cost of expensive items that they could not afford over a long period of time. However, this is not the same as a credit extension, since the buyer technically only owns the item once all payments have been made. You`ll find examples of how the half-rule works in our brochure on the end of a lease. Lenders sometimes say that you have to pay the full amount based on the amount owed under the agreement before you can terminate it.C is wrong.
In this case, you can get help from an experienced advisor, for example. B in a citizen advisory office. To search for details of your nearest CAB, including those who can advise Pere-Mail, click on the nearest CAB. It is against the law to sell a car that is still the subject of a lease-sale agreement. If you want to sell the car, you need to make sure that you have squared everything with the rental company. Rent-to-own agreements are also excluded from the truth law, as they are considered leases rather than an extension of credit. If you want to compare the cost of an HP agreement with the cost of a loan, you can`t compare it to the RPA. This is due to the fact that a lease-sale does not need to display APR as a loan. Instead, if you or the lender terminates the conditional lease or sale, you may have to terminate the insurance separately, as it is often considered a separate agreement. You can always use your cancellation in writing.
After entering into a lease-sale agreement, there can be a large number of problems: the two major drawbacks of using this method to buy a car are the two main drawbacks: a rental-sale contract is concluded and signed by the tenant (the consumer) and on behalf of the owner (the ion of the credit institution).