Order no. 18037 of 2024: Financial Lease and Anti-Usury Regulations

Order no. 18037 of July 1, 2024, issued by the Court of Cassation, offers important clarification regarding the regulation of financial leases and the determination of the usurious interest rate. In particular, the ruling focuses on the distinction between costs arising from penalties for breach of contract and default interest, highlighting that the latter must be calculated without considering the penalties stipulated in the contract.

Anti-Usury Regulations and Financial Lease

According to Italian law, specifically Law no. 108 of March 7, 1996, the interest rate applied in a financial lease agreement must comply with a maximum threshold to avoid the offense of usury. The recent order clarifies that, for the purpose of assessing the usurious threshold, costs related to penalties for early termination of the contract by the user must not be included.

DEFINITION, CHARACTERISTICS, DISTINCTIONS) Financial lease - Anti-usury regulations - Determination of interest rate - Penalty payable by the user for early termination - Calculation - Exclusion - Rationale. In the context of financial leases, for the purpose of assessing compliance with the usurious threshold of the interest rate, amounts agreed as penalties for contract termination due to the user's breach must not be taken into account, as these are costs outside the normal course of the relationship and are only contingent, having a completely different function from that of default interest.

Costs Outside the Normal Course of the Relationship

The Court has established that penalties for breach of contract should not be considered in the calculation of usurious interest as they represent contingent costs, not fixed throughout the lease, and are linked to specific situations of non-performance. This distinction is crucial to ensure the protection of the user's rights and to prevent unforeseen charges from unfairly influencing the calculation of the interest rate.

• Penalties are contingent and not fixed costs.
• They do not affect the usurious threshold of the interest rate.
• Their exclusion promotes a fair interpretation of anti-usury regulations.

Conclusions

In conclusion, order no. 18037 of 2024 represents a step forward in regulatory clarity concerning financial leases and anti-usury regulations. The ruling not only provides practical guidance for determining the interest rate but also emphasizes the importance of protecting the user from unforeseen and potentially burdensome costs. This decision by the Court of Cassation is therefore fundamental for the correct interpretation and application of financial lease regulations, contributing to a fairer and more transparent market.