) With respect to a consumer credit sale or lease, other than a sale or lease primarily for an agricultural purpose, an agreement by the buyer or lessee not to assert against a transferee a claim or defense arising out of the sale or lease is enforceable only by a transferee not related to the

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seller or lessor who acquires the buyer’s or lessee’s contract in good faith and for value, who gives the buyer or lessee notice of the transfer as provided in this section and who, within six months after the mailing of the notice of transfer, receives no written notice of the facts giving rise to the buyer’s or lessee’s claim or defense. The notice of transfer shall be in writing and addressed to the buyer or lessee at his address as stated in the contract, identify the contract, describe the goods or services, state the name and address of the transferee, the amount payable by the buyer or lessee and the number, amounts and due dates of the installments, and contain a conspicuous notice to the buyer or lessee that he has six months within which to notify the transferee in writing of any complaints, claims or defenses he may have against the seller or lessor and that if written notification of the complaints, claims or defenses is not given within the six-month period, the transferee will have the right to enforce the contract free of any claims or defenses the buyer or lessee may have against the seller or lessor.

(2) A transferee does not acquire a buyer’s or lessee’s contract in good faith within the meaning of subsection (1) if the transferee has knowledge or, from his course of dealing with the seller or lessor or his records, notice of substantial complaints by other buyers or lessees of the seller’s or lessor’s failure or refusal to perform his contracts with them and of the seller’s or lessor’s failure to remedy his defaults within a reasonable time after the transferee notifies him of the complaints.