HRS §286-52.4
Vehicle lease rental adjustments are not sales
This section says that for motor vehicles or trailers, a lease does not become a sale or a security interest just because the rental price can go up or down based on the vehicle's resale value. The adjustment alone does not change the legal nature of the transaction.
The statute, as written — Terminal rental adjustment clause; vehicle leases.] In the case of motor vehicles or trailers, notwithstanding any other provision of law, a transaction does not create a sale or security interest mer
ely because it provides that the rental price is permitted or required to be adjusted under the agreement, either upward or downward, by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.