Section 361-D:15 – Open End Leases; Lessee to Bear Risk of Vehicle’s Depreciation.
361-D:15 Open End Leases; Lessee to Bear Risk of Vehicle’s Depreciation. – I. For open end leases, the residual value shall be a reasonable approximation of the anticipated fair market value of the motor vehicle at the end of the scheduled term. II. There shall be a rebuttable presumption that the residual value is […]
Section 361-D:16 – Method for Establishing Realized Value.
361-D:16 Method for Establishing Realized Value. – I. (a) If a lease is terminated early and the lessee does not exercise any purchase option and the lessee’s liability is based on the difference between the lease balance and the realized value, or if the lessee’s liability at the scheduled end of the lease term […]
Section 361-D:1 – Definitions.
361-D:1 Definitions. – I. "Adjusted capitalized cost" equals the gross capitalized cost less the capitalized cost reduction, and is the amount used by the lessor in calculating the base periodic payment. II. [Repealed.] III. "Capitalized cost reduction" means the total amount of any rebate, cash payment, net trade-in allowance, and noncash credit that reduces […]
Section 361-D:2 – Information to be Included With Solicitation.
361-D:2 Information to be Included With Solicitation. – I. Any solicitation to enter into a lease agreement which contains references to the amount of any payment, the number of payments, a statement of any required downpayment or that no payment is required, shall also include a clear and conspicuous statement of all of the […]
Section 361-D:3 – Lease Agreement; Form and Contents.
361-D:3 Lease Agreement; Form and Contents. – I. Every lease agreement shall be in writing and, if printed, shall: (a) Be in type no smaller than 8-point. (b) Be clearly marked, at the top of the lease agreement in at least 10-point, bold capitalized type, the words "Motor Vehicle Lease Agreement". II. (a) The […]
Section 361-D:4 – Lease Agreement; Warnings.
361-D:4 Lease Agreement; Warnings. – Every lease agreement shall contain, in at least 8-point bold type, above the acknowledgment authorized under RSA 361-D:7 or if none exists the space provided for the lessee’s signature and circumscribed by a line, the following warnings which shall be signed or initialed by the lessee: I. Notice to […]
Section 361-D:5 – Lease Agreement; Prohibited Provisions.
361-D:5 Lease Agreement; Prohibited Provisions. – No lease agreement shall contain any provision by which: I. A power of attorney is given to confess judgment in this state, or an assignment of wages is given; provided that nothing contained in this paragraph shall prohibit the giving of an assignment of wages contained in a […]
Section 361-D:6 – Sample Lease Form.
361-D:6 Sample Lease Form. – The lessor shall make a blank sample of its current lease form readily available for examination by prospective lessees by furnishing it upon request before the consummation of a lease and shall provide a copy of a sample lease to every prospective lessee upon the signing by the prospective […]