Terms Used In Indiana Code > Title 24 > Article 5 > Chapter 16.5 - Disclosures Required in Motor Vehicle Leases

• adjusted or net capitalized cost: means the capitalized cost, less any capitalized cost reduction payments made by a retail lessee at the inception of a lease agreement. See Indiana Code 24-5-16.5-1
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• capitalized cost: means the amount that, after deducting any capitalized cost reduction, serves as the basis for determining the base lease payment, which is the part of the periodic lease payment that is the sum of:

  Indiana Code 24-5-16.5-2

• capitalized cost reduction: means a payment made by cash, check, credit card, debit card, net vehicle trade-in, rebate, or other similar means in the nature of a down payment or credit, made by a retail lessee at the inception of a lease agreement, for the purpose of reducing the capitalized cost and does not include any periodic payments received by the retail lessor at the inception of the lease agreement. See Indiana Code 24-5-16.5-3
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• lease agreement: means a written agreement entered into in Indiana for the transfer from a retail lessor to a retail lessee of the right to possess and use a motor vehicle in exchange for consideration for a scheduled term exceeding four (4) months, whether or not the retail lessee has the option to purchase or otherwise become the owner of the motor vehicle upon expiration of the agreement. See Indiana Code 24-5-16.5-4
• lease transaction: means a presentation made to a retail lessee concerning a motor vehicle, including a sales presentation or a document presented to the retail lessee, resulting in the execution of a lease agreement. See Indiana Code 24-5-16.5-5
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Probate: Proving a will
• retail lessee: means an individual who executes a lease agreement for a motor vehicle from a retail lessor primarily for personal, family, or household purposes. See Indiana Code 24-5-16.5-6
• retail lessor: means a person who regularly engages in the business of selling or leasing motor vehicles and who offers or arranges a lease agreement for a motor vehicle. See Indiana Code 24-5-16.5-7
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• vehicle: has the meaning set forth in IC 9-13-2-196. See Indiana Code 24-5-16.5-8
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5