Bill Title: Conforms state law to recent federal changes pertaining to motor vehicle retail leasing to enhance consumer protection; provides for additional disclosures regarding terms and conditions, fees, etc.; provides for a three day cooling off period for leases and for the purchase of new and used vehicles; discourages leasing companies from charging termination fees by allowing those lessors who do not charge such a fee to dispose of the vehicle immediately after coming to a mutually agreed upon final payment by the consumer; waives the requirement that a lessor retain the vehicle in order to give the consumer an opportunity to dispute excessive wear and use charges.

Spectrum: Partisan Bill (Democrat 12-0)

Status: (Introduced - Dead) 2012-01-04 - referred to consumer affairs and protection [A08438 Detail]

Text: Latest bill text (Introduced) [HTML]

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