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Credit Contracts and Consumer Finance Act 2003

Transitional provisions

Schedule 2: Information concerning consumer lease

You could also call this:

"Important details about renting goods under a consumer lease"

Illustration for Credit Contracts and Consumer Finance Act 2003

When you enter a consumer lease, you need to know some key information. This includes the full name and address of the person or company leasing the goods to you, known as the lessor. You also need to know the nature of the lease, which means it is a consumer lease under the Credit Contracts and Consumer Finance Act 2003, as empowered by s 64. You should be told about the term of the lease, which is how long it lasts. The lessor must also tell you the cash price of the goods, and if you have the option to buy the goods, how much it will cost. You need to know how much you will pay, when you will pay, and how many payments you will make. The lessor must also tell you about any other important details, such as any amount you need to pay before you get the goods, the total amount you will pay, and what happens if you want to end the lease. They must also tell you about any fees or charges you might have to pay if you break the lease, and any other information that is required by the regulations.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213546.

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Topics:
Money and consumer rights > Consumer protection
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2Information concerning consumer lease Empowered by s 64

The following is information concerning a consumer lease as is applicable:

Full name and address of lessor

  • the full name and full address of the lessor:

      1. Nature of lease

    1. the fact that the lease is a consumer lease under this Act:

        1. Term of lease

      1. the term of the lease:

          1. Cash price

        1. the cash price of the goods leased:

            1. Option to purchase goods

          1. whether the lessee has an option to purchase the goods and if so, the amount payable to exercise the option or the method of calculating that amount:

              1. Payments required

            1. the amount, timing, and number of payments to be made under the lease:

                1. Amount paid at commencement

              1. any amount or consideration that must be paid or provided before or at the commencement of the term of the lease or before the lessee takes possession of the goods:

                  1. Total amount payable

                1. the total amount payable by the lessee under the lease, if ascertainable:

                    1. Conditions of termination

                  1. a statement of the conditions on which the lessee may terminate the lease, including how any amount payable on the termination of the lease is calculated:

                      1. Services financed under lease

                    1. particulars of any services that in substance are financed under the lease:

                        1. Default fees or charges

                      1. the fees or charges that are payable on a breach of the lease by the lessee or on the enforcement of the lease by the lessor:

                          1. Other items

                        1. any other information or warnings prescribed by the regulations to be information concerning a consumer lease.

                            1.