# Tex. Finance Code § 348.002: BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.002

## Section

- **Citation:** Tex. Finance Code § 348.002
- **Heading:** BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code fi / Chapter 348 / Section 348.002

## Text

A bailment or lease of a motor vehicle is a retail installment transaction if the bailee or lessee:

(1) contracts to pay as compensation for use of the vehicle an amount that is substantially equal to or exceeds the value of the vehicle; and

(2) on full compliance with the bailment or lease is bound to become the owner or, for no or nominal additional consideration, has the option to become the owner of the vehicle.

## Nearby sections

- [Tex. Finance Code § 348.001 § 348.001. DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.001.md)
- [Tex. Finance Code § 348.002 § 348.002. BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.002.md)
- [Tex. Finance Code § 348.003 § 348.003. CLASSIFICATION AS RETAIL INSTALLMENT TRANSACTION UNAFFECTED.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.003.md)
- [Tex. Finance Code § 348.004 § 348.004. CASH PRICE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.004.md)
- [Tex. Finance Code § 348.005 § 348.005. ITEMIZED CHARGE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.005.md)
- [Tex. Finance Code § 348.006 § 348.006. PRINCIPAL BALANCE; INCLUSION OF DOCUMENTARY FEE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.006.md)
- [Tex. Finance Code § 348.007 § 348.007. APPLICABILITY OF CHAPTER.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.007.md)
- [Tex. Finance Code § 348.008 § 348.008. APPLICABILITY OF OTHER STATUTES TO RETAIL INSTALLMENT TRANSACTION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.008.md)
- [Tex. Finance Code § 348.009 § 348.009. FEDERAL DISCLOSURE REQUIREMENTS APPLICABLE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.009.md)
- [Tex. Finance Code § 348.010 § 348.010. ADDITIONAL INFORMATION ALLOWED IN CONTRACT.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.010.md)
- [Tex. Finance Code § 348.011 § 348.011. ORDER OF ITEMS IN CONTRACT.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.011.md)
- [Tex. Finance Code § 348.012 § 348.012. APPLICABILITY OF INSURANCE PREMIUM FINANCING PROVISIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.012.md)
- [Tex. Finance Code § 348.013 § 348.013. CONDITIONAL DELIVERY AGREEMENT.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.013.md)
- [Tex. Finance Code § 348.014 § 348.014. TRANSACTION CONDITIONED ON PURCHASE OF VEHICLE PROTECTION PRODUCT PROHIBITED.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.014.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C348_S348.002. Check the current official text before relying on it. Not legal advice.