consumer leases

Consumer Leases to be regulated like other forms of credit

Known as “Rent-Try-Buy”, consumer leases are subject to considerably lighter regulation than credit contracts, a practice that should end. They are also incredibly expensive, and targeted at low-income and Centrelink dependent Australians. ASIC last year released a report on consumer leases, which found one lease provider charging the equivalent of 884% on the standard retail cost for a clothes dryer.