When a consumer returns defective goods, he is entitled to reimbursement of payments paid as consumer rights in this situation, as if the goods had been purchased directly. Leasing is an agreement for the purchase of expensive consumer goods, in which the buyer makes a first down payment and pays the balance, plus interest to temper. The term rental-sale is often used in the United Kingdom and is better known as a rate plan in the United States. However, there may be a difference between the two: for some payment plans, the buyer gets the property rights as soon as the contract is signed with the seller. By lease agreement, ownership of the goods is not officially transferred to the buyer until all payments have been made. As a general rule, the landlord has the right to terminate the contract if the tenant refuses to pay the payments or violates any of the other terms of the contract. The owner can do this: if the property leased under a lease agreement is or becomes defective, the responsibility rests with both the merchant and the owner (financial company). In this situation, a consumer can make claims against any party. A claim cannot be made against the manufacturer of the product.
As part of a rental plan, the consumer has an obligation to properly look after the leased property. If the goods are damaged by the consumer and returned to the owner or financial company, they are allowed to send the consumer a repair bill. 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. A lease-sale (HP), , 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. Lease-to-sale agreements can be entered into with banks, real estate credit companies, financial companies and certain retail stores, such as garages.B. The store or garage does not actually offer credit.
It acts as an intermediary for a financial company and receives commissions from the financial company for the intermediation of the loan. 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. If the buyer is late in paying the payments, the owner can recover the merchandise, a seller`s protection that is not available with unsecured credit systems for consumers.