Wisconsin § 218.0144 Prelease agreements.

Wisconsin Statutes

§ 218.0144 — Prelease agreements.

Wisconsin § 218.0144

Ch. 218Finance companies, auto dealers, adjustment companies and collection agencies

Subch.subch. I of ch. 218 SUBCHAPTER I

MOTOR VEHICLE DEALERS; SALESPERSONS; SALES FINANCE COMPANIES

This text of Wisconsin § 218.0144 (Prelease agreements.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 218.0144 (2026).

Text

0144
0144(1) (1) Every prelease agreement shall be in writing, which shall contain all of the agreements of the parties with respect to entering into a consumer lease and shall be signed by both parties.
0144(2) (2) No prelease agreement shall be binding on a prospective lessee unless all of the following apply:
0144(2)(a) (a) All of the information required to be disclosed in a consumer lease under s. 429.203 (3) and (4) is disclosed in writing to the prospective lessee before the execution of the prelease agreement by the prospective lessee.
0144(2)(b) (b) The prelease agreement contains, directly above the place for the prospective lessee’s signature, a notice in substantially the following language in bold-faced capital letters of not less than 10-point type:
01

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218.0144
218.0144(1) (1) Every prelease agreement shall be in writing, which shall contain all of the agreements of the parties with respect to entering into a consumer lease and shall be signed by both parties.
218.0144(2) (2) No prelease agreement shall be binding on a prospective lessee unless all of the following apply:
218.0144(2)(a) (a) All of the information required to be disclosed in a consumer lease under s. 429.203 (3) and (4) is disclosed in writing to the prospective lessee before the execution of the prelease agreement by the prospective lessee.
218.0144(2)(b) (b) The prelease agreement contains, directly above the place for the prospective lessee’s signature, a notice in substantially the following language in bold-faced capital letters of not less than 10-point type:
218.0144(3) (3) An exact copy of the prelease agreement shall be furnished by the prospective lessor to the prospective lessee at the time that the prospective lessee signs the prelease agreement. The prospective lessee’s copy of the prelease agreement shall contain the signature of the prospective lessor identical with the signature on the original prelease agreement. No prelease agreement shall be signed in blank except that a detailed description of the motor vehicle, including the serial or identification number, that is not available at the time of execution of the prelease agreement may be omitted.
218.0144(4) (4) A prospective lessor may cancel a prelease agreement that, with regard to the lease terms disclosed in the prelease agreement, is contingent upon approval of the prospective lessee’s credit by a sales finance company to whom the prospective lessor intends to assign the consumer lease, if the prelease agreement contains a provision requiring the prospective lessor to give the prospective lessee written notice of the cancellation within 10 business days of execution of the prelease agreement and the notice is given to the prospective lessee.
218.0144(5) (5) No prelease agreement may contain a clause which, upon nonacceptance of the motor vehicle by the prospective lessee, would subject the prospective lessee to a penalty greater than 5 percent of the gross capitalized cost of the vehicle.