Lawmakers in New York state are considering a bill that would ban 'pet leasing' - and, yes, it's just what it sounds like.

There are actual businesses out there that lease dogs and/or cats. They claim to help wannabe pet owners who can't afford a furry companion.

One of those companies is Wags Lending where you basically rent your pet with the option to buy - for sometimes double the money.

And like most lease agreements, often times you actually end up spending more in the long run than you would have if you would've just paid in full up front.

The assemblyman who introduced the bill to ban pet leasing in the state calls it "predatory." "The dirty details are in the fine print," he said.

And yes, if you can't keep up with the payments -your puppy or kitty gets repo'd.

Source: Money Watch

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