Pet leasing

Pet leasing is the practice of leasing a pet, usually a dog, to a customer on a contract basis.[1] The practice is controversial, because some customers believed they were taking out loans to buy a pet when, in fact, they were only leasing an animal that could be repossessed by the lender in the event that payments were not kept up.[2][3][4][5]

The process of leasing a pet typically starts in a retail pet store, but the loan is made by a third-party contractor. The revenue model for pet leasing is the same as car leasing.[6][7] The borrower enters a contract, typically for two years, and agrees to monthly payments. The lender typically requires proof of income, which may be as low as $1000 a month.

Controversy

The state governments of New York,[8] California, Nevada, Washington, Indiana and New Jersey have banned pet leasing.[9] And a similar ban on pet leasing has passed the Rhode Island state house of representatives.[10][11] In Connecticut, State Senate Republican President Pro Tempore Len Fasano has introduced legislation that would similarly ban pet leasing in his state.[12] Dog leasing is illegal in Massachusetts.[13][14]

According to several news sources, some lessees of pets believed they were buying their pets and were surprised to discover that they were only on loan.[15][16][17]

The American Kennel Club "supports a ban on predatory pet leasing schemes that victimize potential owners, undermine a lifetime commitment to a pet, and do not confer the rights and responsibilities associated with legal ownership of a pet."[18] Pet leasing has also been decried by the American Society for the Prevention of Cruelty to Animals (ASPCA), which has called for a state-by-state ban.[19]

References
  1. News, CBS. "Animal lovers decry "pet leasing" contracts". Retrieved 2018-08-01.
  2. Kosuda, Kelley (August 2018). "Michigan families tricked into leasing expensive dogs they..." www.clickondetroit.com. Retrieved 2018-08-01.
  3. "Animal Lovers Claim Stores Duped Them Into Signing 'Pet Leasing' Contracts". 2018-07-30. Retrieved 2018-08-01.
  4. Davis, Amy. "Is pet leasing more bark or bite?". www.click2houston.com. Retrieved 2018-08-01.
  5. "Lender threatens to take dog back after saying woman was only leasing him". ABC News. 8 August 2018. Retrieved 3 March 2019.
  6. "Can having a pet ruin your credit score?". theweek.com. 7 May 2017. Retrieved 3 March 2019.
  7. "Pet leasing: The latest in predatory lending – Animal Rights Channel". animalrightschannel.com. Archived from the original on 2018-08-02.
  8. https://www.usnews.com/news/best-states/new-york/articles/2018-06-14/bill-passes-making-new-york-the-3rd-state-to-ban-pet-leasing
  9. "Report warns of 'pet leasing' contracts". KRDO. 2018-07-30. Retrieved 2018-08-01.
  10. ChrisS. "RI House of Reps Passes Bill Banning "Forever Pets"". GoLocalProv. Retrieved 3 March 2019.
  11. https://www.usnews.com/news/best-states/rhode-island/articles/2018-06-03/bill-to-prohibit-pet-leasing-clears-rhode-island-house
  12. Journal, A. B. A. "Dog on a lease? Woman surprised to learn pet she paid for was a rental". ABA Journal. Retrieved 3 March 2019.
  13. AG's Office Takes Action Against Illegal Dog Leasing 4/29/2021
  14. Company settles dog-leasing allegations for more than $900K 4/13/2022
  15. "Cats and Dogs for Lease, Suckers for Buyers". voicesofmontereybay.org. Retrieved 3 March 2019.
  16. "Pet Lending in New York", NewsDay, August 14, 2018
  17. https://www.washingtonpost.com/news/animalia/wp/2017/12/20/pet-brokers-are-leasing-puppies-and-people-are-getting-scammed/
  18. "AKC Board Addresses Predatory Pet Leasing". American Kennel Club. Retrieved 3 March 2019.
  19. "Beware of "Puppy Leasing"". ASPCA. Retrieved 3 March 2019.
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