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Indiana Code Title 24. Trade Regulation § 24-5-16.5-2

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 2. (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.

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Cite this article: FindLaw.com - Indiana Code Title 24. Trade Regulation § 24-5-16.5-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-24-trade-regulation/in-code-sect-24-5-16-5-2/

Read this complete Indiana Code Title 24. Trade Regulation § 24-5-16.5-2 on Westlaw

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