Federal Consumer Leasing Act Disclosures (Vehicle)
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4Appendix A-1 Model Open-End or Finance Vehicle Lease Disclosures
Federal Consumer Leasing Act Disclosures
Date
Lessor(s)
Lessee(s)
Amount Due at
Monthly Payments
Other Charges (not part of your monthly
Total of Payments
Lease Signing
payment)
(The amount you will have
paid by the end of the
(Itemized below)*
Your first monthly payment of $ _____________
Disposition fee (if you do
lease)
is due on _____________________, followed by
not purchase the vehicle)
$
[
]
______ payments of $ ___________ due on
[Annual tax]
$ __________________
the _________ of each month. The total of your
You will owe an additional
$ _______________
monthly payments is $ _____________.
amount if the actual value of
Total $
the vehicle is less than the
residual value.
* Itemization of Amount Due at Lease Signing
Amount Due At Lease Signing:
How the Amount Due at Lease Signing will be paid:
$
Capitalized cost reduction
Net trade-in allowance
$
First monthly payment
Rebates and noncash credits
Refundable security deposit
Amount to be paid in cash
Title fees
Registration fees
$
Total
Total
$
Your monthly payment is determined as shown below:
Gross capitalized cost. The agreed upon value of the vehicle ($
) and any items
you pay over the lease term (such as service contracts, insurance, and any outstanding prior loan
$
or lease balance) ..................................................................................................................................
If you want an itemization of this amount, please check this box.
Capitalized cost reduction. The amount of any net trade-in allowance, rebate, noncash credit, or cash you pay
–
that reduces the gross capitalized cost ........................................................................................................
=
Adjusted capitalized cost. The amount used in calculating your base monthly payment ..........................................
–
Residual value. The value of the vehicle at the end of the lease used in calculating your base monthly payment ............
Depreciation and any amortized amounts. The amount charged for the vehicle's decline in value
=
through normal use and for other items paid over the lease term .......................................................................
+
Rent charge. The amount charged in addition to the depreciation and any amortized amounts ..................................
=
Total of base monthly payments. The depreciation and any amortized amounts plus the rent charge .........................
÷
Lease term. The number of months in your lease .........................................................................................
=
Base monthly payment .........................................................................................................................
+
Monthly sales/use tax ...........................................................................................................................
+
_____________________ ......................................................................................................................
=$
Total monthly payment ........................................................................................................................
Rent and other charges. The total amount of rent and other charges imposed in connection with your lease $ _____________ .
Early Termination. You may have to pay a substantial charge if you end this lease early. The charge may be up to several
thousand dollars. The actual charge will depend on when the lease is terminated. The earlier you end the lease, the greater
this charge is likely to be.
Excessive Wear and Use. You may be charged for excessive wear based on our standards for normal use [and for mileage in excess
of __________ miles per year at the rate of ________ per mile].
Purchase Option at End of Lease Term. [You have an option to purchase the vehicle at the end of the lease term for $ ____________
[and a purchase option fee of $ _________________ ].] [You do not have an option to purchase the vehicle at the end of the lease term.]
Other Important Terms. See your lease documents for additional information on early termination, purchase options and maintenance
responsibilities, warranties, late and default charges, insurance, and any security interest, if applicable.
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