429.104 Definitions. In this chapter: (1) “Adjusted capitalized cost” means the amount computed by subtracting from capitalized cost any capitalized cost reduction, for the purpose of determining the base periodic payment. (2) “Average periodic depreciation” means the adjusted capitalized cost, after first subtracting the residual value, divided by the number of payment periods under the consumer lease or, for a single-payment lease, the number of months in the term of the lease. (3) “Average periodic rent charge” means the rent charge for the scheduled term of the consumer lease divided by the number of payment periods under the consumer lease or, for a single-payment lease, the number of months in the term of the lease. (3m) “Balance subject to a rent charge” means: (a) In the case of a lease other than a single-payment lease, the amount calculated by subtracting from the adjusted capitalized cost the sum of the first base periodic payment and all depreciation amounts accrued during any preceding payment periods. (b) In the case of a single-payment lease, the amount calculated by subtracting the total rent charge from the sum of the residual value and all rent charges accrued during any preceding computational periods. (4) “Base periodic payment” means an amount determined as follows:
429.202 429.203 429.204 429.205 429.206 429.207 429.208 429.209
Advance payment or trade-in; refund or return. Requirements of a consumer lease. Gap amount; notice. Security interest. Determination of realized value upon early termination. Restrictions on early termination obligation. Assessment of excess wear and damage. Renegotiations and extensions. SUBCHAPTER III PENALTIES AND REMEDIES