Washington Code 63.10.045 – Unlawful acts or practices — Consumer lease of a motor vehicle
Current as of: 2023 | Check for updates
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Each of the following acts or practices are unlawful in the context of offering a consumer lease of a motor vehicle:
Terms Used In Washington Code 63.10.045
- 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
(1) Advertising that is false, deceptive, misleading, or in violation of *12 C.F.R. § 213.5 (a) through (d) and 15 U.S.C. § 1667, Regulation M;
(2) Misrepresenting any of the following:
(a) The material terms or conditions of a lease agreement;
(b) That the transaction is a purchase agreement as opposed to a lease agreement; or
(c) The amount of any equity or value the leased vehicle will have at the end of the lease; and
(3) Failure to comply with the disclosure requirements of Title I of the federal consumer protection act (90 Stat. 257, 15 U.S.C. § 1667 et seq.), which is also known as the federal consumer leasing act, including, but not limited to, failure to disclose all fees that will be due when a consumer exercises the option to purchase.
[ 1995 c 112 § 3.]
NOTES:
*Reviser’s note: 12 C.F.R. § 213.5 (a) through (d) has been amended. See 12 C.F.R. § 213.7 (a) through (f).