An Act relative to motor vehicle leasing parity
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to ensure that consumers leasing vehicles in Massachusetts receive the same protections as those purchasing them. Currently, lease agreements often lack the same consumer safeguards as financing contracts, leaving lessees vulnerable to certain fees and practices. The bill seeks to establish parity between vehicle leasing and purchasing, providing greater consumer rights and transparency in lease agreements. It intends to level the playing field for Massachusetts vehicle lease customers.
Key provisions
- Requires lease agreements to disclose all fees and charges.
- Establishes standards for vehicle maintenance and repair during the lease term.
- Protects lessees from excessive or unfair charges.
- Allows lessees to terminate a lease early under certain circumstances.
- Provides a process for resolving disputes between lessees and leasing companies.
Who is affected
- Vehicle Lease Consumers
- Leasing Companies
- Massachusetts Residents
- Automotive Industry
- Consumers
Notable changes
- Creates parity between vehicle leasing and purchasing agreements.
- Addresses potential imbalances of power between lessees and leasing companies.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
Jacob R. Oliveira
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