What does the Consumer Leasing Act apply to?

The Consumer Leasing Act applies specifically to consumer leases and is primarily concerned with protecting consumers in transactions involving personal property. The correct choice highlights that the Act pertains to leases where total payments do not exceed $25,000. This threshold is significant as it ensures that the protections afforded by the Act are applicable in relatively lower-value leases, which are more likely to be entered into by everyday consumers rather than businesses or corporations.

The emphasis on leases with total payments below this limit aligns with the Act's intent to focus on transactions that are more likely to involve individual consumers rather than corporate or high-value commercial dealings. This consumer-centric approach helps ensure that lease agreements are fair and transparent, providing consumers with essential information regarding the terms and conditions.

In contrast, the other choices are not applicable under the Consumer Leasing Act. Real estate leases typically fall outside the scope of this legislation, as it specifically addresses personal property leases. Business leases are also excluded, as the Act is designed to protect individual consumers rather than commercial entities. Lastly, while corporations may be involved in leasing, they do not fall under the consumer protections provided by this Act, as it is intended to safeguard individual consumers rather than corporate interests.