Arizona Laws 44-6810. Advertising
A. If an advertisement for a rental-purchase agreement refers to or states the dollar amount of any periodic payment and the right to acquire ownership of a specific item, the advertisement shall also clearly and conspicuously state the following, as applicable:
Terms Used In Arizona Laws 44-6810
- Advertisement: means a commercial message in any medium that solicits a consumer to enter a rental-purchase agreement. See Arizona Laws 44-6801
- Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement. See Arizona Laws 44-6801
- Consumer: means an individual who rents personal property under a rental-purchase agreement to be used primarily for personal, family or household purposes. See Arizona Laws 44-6801
- Cost of rental: means the difference between the total of all periodic payments necessary to acquire ownership under the rental-purchase agreement and the cash price of the rental property that is subject to the rental-purchase agreement. See Arizona Laws 44-6801
- Rental-purchase agreement: means an agreement that is for the use of personal property by an individual for personal, family or household purposes, that is for an initial period of four months or less, that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property but that does not obligate or require the consumer to continue leasing or using the property beyond the initial period. See Arizona Laws 44-6801
1. That the transaction advertised is a rental-purchase agreement.
2. The total number and total amount of periodic payments necessary to acquire ownership of the item.
3. That the consumer acquires no ownership rights unless the total amount necessary to acquire ownership is paid.
B. Each item displayed or offered under a rental-purchase agreement shall bear a tag or card that clearly and conspicuously indicates in Arabic numerals, which are readable and understandable by visual inspection, each of the following:
1. The cash price of the item.
2. The amount of the periodic payment.
3. The total number and total amount of periodic payments necessary to acquire ownership.
4. The cost of rental.