Ann: Media Commentary on Potential Class Action, page-17

Thankyou crazypunter
I started my blog by saying that that potential investors should start by understanding the history of Finance in Australia since the 70s and I stand by that statement
How many people remember Custom Credit, (NAB ) AGC (Westpac) GMAC, Standard Chatered Finance,
Mutual Acceptance, CAGA Waltons ( who have only just recently collected their last outstanding debt ) etc etc
Some how Radio Rental may have managed to slip under the radar ( they were around in the 70s)

I don't want to set myself up as an expert but I suspect that the Consumer lease loophole will be closed so that contracts are bought under existing Consumer Credit legislation

The following is a cut and paste from the Victorian Law Handbook 2016

A “consumer lease” is defined in the NCC as a contract for the hire of goods by a person for a specified time at a specified rental under which they have no right or obligation to purchase the goods (s 169 NCC). If the lease contains an option or right to purchase the goods, it may be a “sale by instalments” agreement under section 9 of the NCC, and thus, potentially, a regulated credit contract.

Here is a cut and paste from Radio Rentals website.

	Column 1	Column 2
0	How does Rent, Try, $1* Buy™ work?	Back to top

With our exclusive Rent, Try, $1 Buy™* plan, we make it easy for you to get the things you want sooner. Simply choose a Rent, Try $1 Buy™* plan and at the end of the term you can make it yours for just $1*. Whether it’s a TV rental, laptop or a treadmill, you can make it yours.
*Goods available to buy using Rent, Try, $1 Buy are similar to rented goods in age, dimension and features. $1 buyout is after payment of 24, 36 or 48 (product dependent) months rental.

It will be interesting to see how this plays out