The 2023 Florida Statutes (including Special Session C)

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 521
MOTOR VEHICLE LEASE DISCLOSURE

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F.S. 521.004

521.004 Disclosures.—A retail lessor must:

(1) Disclose to the retail lessee in the lease agreement in a separate blocked section, in capital letters of at least 12-point bold type, with the appropriate amounts specified, as follows:

THIS IS A LEASE AGREEMENT.
THIS IS NOT A PURCHASE AGREEMENT.

PLEASE REVIEW THESE MATTERS CAREFULLY AND SEEK INDEPENDENT PROFESSIONAL ADVICE IF YOU HAVE ANY QUESTIONS CONCERNING THIS TRANSACTION. YOU ARE ENTITLED TO AN EXACT COPY OF THE AGREEMENT YOU SIGN.

CAPITALIZED COST $

(Your total cost of goods, services, & fees.)

CAPITALIZED COST REDUCTION $

(Your total credits.)

ADJUSTED OR NET CAPITALIZED COST $

(Your net cost of goods, services, & fees.)

For purposes of this subsection, that portion of the disclosure stating the terms “capitalized cost,” “capitalized cost reduction,” and “adjusted or net capitalized cost,” and the explanations contained in the parentheticals, as well as their respective amounts, are not required to be disclosed if the terms “gross capitalized cost,” “capitalized cost reduction,” and “adjusted capitalized cost” and the descriptions and disclosures set forth and required by the federal Consumer Leasing Act, 15 U.S.C. s. 1667 et seq., and Federal Reserve Board Regulation M. 12 C.F.R. part 213, are set forth elsewhere in the lease agreement.

(2) Provide the retail lessee with a copy of the lease agreement.

History.—s. 4, ch. 95-350; s. 1, ch. 98-128; s. 1, ch. 2005-125.

F.S. 521.004 on Google Scholar

F.S. 521.004 on Casetext

Amendments to 521.004

Arrestable Offenses / Crimes under Fla. Stat. 521.004

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 521.004.

Annotations, Discussions, Cases:

Cases from cite.case.law:

COURTESY AUTO GROUP, INC. v. GARCIA,, 874 So. 2d 1220 (Fla. Dist. Ct. App. 2004)

. . . Section 521.004(2), Florida Statutes (2000), requires that a retail lessor must: Provide the retail lessee . . . The trial court addressed Courtesy Auto’s arguments and found that section 521.004 encompassed all of . . .

COURTESY AUTO GROUP, INC. v. GARCIA,, 778 So. 2d 1000 (Fla. Dist. Ct. App. 2000)

. . . due after February 18, 1997, and which failed to contain the mandatory disclosure required by section 521.004 . . . Specifically, Garcia alleged in count V that Courtesy, as a retail lessor, had violated section 521.004 . . . document entitled “Florida Consumer Lease Disclosure,” which contained the wording required by section 521.004 . . . Garcia argues that to satisfy section 521.004(1) the disclosure must be in the lease proper, but it is . . . The requirement of section 521.004(1) was satisfied and Garcia has no cause of action against Courtesy . . .