Most of the car loans offered by garages are rental loans. Consumers may also be offered rental credits when purchasing furniture, computer appliances or electroelectric goods. If the lender terminates the contract, for example. B because you did not follow the refunds, he may be able to take possession of the goods. As a general rule, the lender needs a court decision. If you or the lender terminates the lease or conditional sales contract, you may need to terminate the insurance separately, as this is often considered a separate agreement. You can always use your cancellation in writing. A lease-sale (HP), [1], 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. (7) During the period of application of this agreement, the tenant maintains these machinery and equipment in good condition and maintains them properly, as a prudent man would, and replaces any lost or unused or broken parts.

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. If this third-party rule is violated by the owner, the consumer is allowed to terminate the contract and may demand a refund of all payments made. For more information on a third of the rule, visit the Competition and Consumer Protection Commission website. The lease agreement is a contract whereby the owner of the merchandise allows a person or tenant to rent the goods to the owner for a fixed term, while the tenant pays payments for the goods to the landlord. At the end of the agreement, the tenant may decide to purchase the merchandise if he has paid all the payments.