(a)    In this subtitle the following words have the meanings indicated.

(b)    (1)    “Advertisement” means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental–purchase agreement.

(2)    “Advertisement” does not include in–store merchandising ads.

(c)    “Cash price” means the price at which the lessor would have sold rental property covered by a rental–purchase agreement to the consumer unconditionally for cash on the date of consummation.

(d)    “Consumer” means an individual who rents personal property under a rental–purchase agreement primarily for personal, family, or household purposes.

(e)    “Consummation” means the time at which a consumer enters into a rental–purchase agreement.

(f)    “Cost of lease services” means the difference between the final purchase price of rental property and the cash price of rental property.

(g)    “Lessor” means a person who regularly provides the use of personal property through rental–purchase agreements to consumers and to whom rental payments are initially payable on the face of a rental–purchase agreement.

(h)    “Rental property” means personal property that is the subject of a rental–purchase agreement.

(i)    “Rental–purchase agreement” means an agreement that:

(1)    Is for the use of personal property by an individual primarily for personal, family, or household purposes;

(2)    Is for an initial period of 4 months or less;

(3)    Is automatically renewable for a weekly or monthly period with each rental payment after the initial period; and

(4)    Allows but does not obligate the consumer to become the owner of the property.