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Lease 101

Disclosure Statement

Lease contracts are required by Federal Law to include a section, typically called "FEDERAL CONSUMER LEASING ACT DISCLOSURES," in which key pieces of information are disclosed to you. This information includes the amount due at lease signing, the established monthly payment, other fees that will be assessed, the total value of all payments, the way in which the monthly payment is established, a statement explaining early termination, and an explanation of wear and tear.

It is extremely important to verify this information before you sign the lease, because mistakes are very common.

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