Wisconsin SB 737/AB 742. INTRODUCED. The bill would create a new legislative framework for lease-purchase agreements for personal property in Wisconsin. The bill defines “lease-purchase agreement” to mean an agreement for the use of personal property (goods) by an individual (consumer) if 1) the goods are to be used for personal, family, or household purposes; 2) the agreement is for an initial period of four months or less and is automatically renewable with each payment after the initial period, but does not obligate the consumer to continue renting the goods beyond the initial period; and 3) the agreement permits the consumer to become the owner of the goods. The bill would require lessors to make specific disclosures as well as impose other substantive requirements and restrictions on lease-purchase transactions.
Mike Lewis
Mike Lewis is a Premier Rental Purchase franchisee with multiple stores and currently serves as Vice President of Operations. With 33 years of experience in the rent-to-own industry, he has spent the past 20 years working closely with franchisee owners and previously spent 12 years in Corporate RTO, gaining a strong foundation in the business.
For the past five years, Mike has been sharing his knowledge by teaching managers and franchisees at the company’s Training Center.
Outside of work, he enjoys time with his family, kids, and grandkids, and appreciates the simple things in life – especially riding his Harley Davidson with the sun on his face. If you know, you know!
