ALBANY - New York may become the third state in the nation to ban leasing plans for the purchase of expensive pets.
The state Legislature in recent days passed a bill that would bar pet leases — often high-interest loans provided to customers who buy animals from pet stores or online.
Animal-rights groups implored state lawmakers this year to pass the measure, which is already on the books in California and Nevada.
“These deceptive, predatory financing arrangements benefit only the lending company and the pet seller — not the consumer, and certainly not the animal involved," Bill Ketzer, the senior director of state legislation for the American Society for the Prevention of Cruelty to Animals.
The bill now heads to Gov. Andrew Cuomo's desk for final approval.
If signed into law, animal advocates said it would end the "predatory practice" of leasing dogs and cats for ownership.
Often, consumers will enter a financial arrangement with a lender for a lease on their pet if they can't afford to pay for the animal upfront.
But the deals often come with high interest rates and fine print that can also lead to higher prices on pet sales -- especially when they are sourced from puppy mills, the ASPCA said.
New York is already looking at separate legislation to ban pet stores from buying from puppy mills.
Groups said the leasing programs are often marketed as making pet ownership more affordable, but in fact the leasing company is legally the owner of the pet for the duration of the lease, which can sometimes last years.
When the lease is over — not unlike an automobile lease — the owner can purchase the pet for an additional cost.
"Besides taking advantage of emotional consumers, having a third party retain ownership of a pet raises serious ethical questions about who is permitted to make important medical decisions on behalf of the animal," the ASPCA said.
