§ 24-5-16.5-2 — "Capitalized cost"

Indiana § 24-5-16.5-2

• Jurisdiction: Indiana
• Art. 5: CONSUMER SALES
• Ch. 16.5: Disclosures Required in Motor Vehicle Leases

Text

(a) As used in this chapter, "capitalized cost"
means the amount that, after deducting any capitalized cost reduction,
serves as the basis for determining the base lease payment, which is the
part of the periodic lease payment that is the sum of:
(1) the average periodic lease charge; plus
(2) the average periodic depreciation.
(b) For a single payment lease, the base lease payment is the sum of:
(1) the average periodic lease charge multiplied by the number of
months in the term of the lease; plus
(2) the average periodic depreciation multiplied by the number of
months in the term of the lease.
(c) The capitalized cost may include any of the following:
(1) Taxes.
(2) Registration fees.
(3) License fees.
(4) Insurance charges.
(5) Charges for guaranteed auto protection or GAP coverage.
(6) Charges for service contracts and extended warranties.
(7) Fees and charges for accessories and for installing accessories.
(8) Charges for delivery, service, and repair.
(9) Administrative fees, acquisition fees, and all fees or charges
for providing services incidental to the lease agreement.
(10) The unpaid balance of an amount financed under an
outstanding motor vehicle loan agreement or motor vehicle retail
installment contract with respect to a motor vehicle used as a
trade-in vehicle.
(11) The unpaid part of the early termination obligation under an
outstanding lease agreement.
(12) The first periodic payment due at the inception of the lease
agreement, if not otherwise paid by the retail lessee.

Legislative History

As added by P.L.151-2015, SEC.80.