429.209 – Renegotiations and extensions.
429.209 Renegotiations and extensions. (1) All of the disclosure requirements specified in s. 429.203 apply to the renegotiation of a consumer lease. A renegotiation of a consumer lease does not create a warranty or subject the transaction to any laws of this state relating to the sale of used motor vehicles. (2) The disclosure requirements […]
429.301 – Penalties and remedies.
429.301 Penalties and remedies. (1) Except as provided in s. 429.208 (7) (a), a person who commits a violation of this chapter is liable to the lessee in an amount equal to the sum of the following amounts: (a) One hundred dollars. (b) The actual damages, including any incidental and consequential damages, sustained by the […]
429.204 – Gap amount; notice.
429.204 Gap amount; notice. If a consumer lease provides that the lessee is responsible for any or all of the gap amount, the consumer lease shall conspicuously disclose this fact, using the term “gap amount”. The acceptance of a consumer lease may not be conditioned upon the lessee’s agreement to gap insurance or a gap […]
429.205 – Security interest.
429.205 Security interest. (1) No consumer lease, or any other document executed by a lessee in connection with a consumer lease, shall create a security interest in any real or personal property of the lessee to secure payment of any obligations assumed by the lessee under the consumer lease. This subsection does not apply to […]
429.206 – Determination of realized value upon early termination.
429.206 Determination of realized value upon early termination. If a consumer lease is terminated before the expiration date set forth in the lease, the realized value of the motor vehicle leased under the consumer lease shall be determined as follows: (1) If the lessee and the lessor mutually agree upon the motor vehicle’s realized value, […]
429.207 – Restrictions on early termination obligation.
429.207 Restrictions on early termination obligation. (1) The lessee has the right to terminate the consumer lease at any time. (2) If a consumer lease is terminated before the expiration date set forth in the consumer lease and no applicable option to purchase is exercised by the lessee, the early termination obligation of the lessee […]
429.208 – Assessment of excess wear and damage.
429.208 Assessment of excess wear and damage. (1) (a) Except as provided in par. (b), a holder shall, upon return of a leased vehicle, conduct an inspection to determine excess wear and damage to the leased vehicle for which the lessee may be held liable. A holder may not prohibit the lessee from being present […]
429.103 – Construction against implied repeal.
429.103 Construction against implied repeal. This chapter being a general act intended as a unified coverage of its subject matter, no part of this chapter shall be construed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. History: 1995 a. 329.
429.104 – Definitions.
429.104 Definitions. In this chapter: (1) “Adjusted capitalized cost” means the amount computed by subtracting from capitalized cost any capitalized cost reduction, for the purpose of determining the base periodic payment. (2) “Average periodic depreciation” means the adjusted capitalized cost, after first subtracting the residual value, divided by the number of payment periods under the […]
429.201 – Prelease availability of consumer lease form.
429.201 Prelease availability of consumer lease form. A lessor shall, upon request of a prospective lessee, make readily available a blank sample of its current consumer lease form for examination by the prospective lessee before execution of the consumer lease. History: 1995 a. 329.