Bill > S2434

This bill introduces several changes to motor vehicle leasing regulations in Massachusetts, aimed at providing more protection and transparency for consumers who lease vehicles. The bill modifies existing laws to extend consumer protections to motor vehicle leases, including allowing buyers or lessees to void a vehicle sale or lease within seven days if the vehicle fails a safety inspection, with specific conditions such as repair costs exceeding 10% of the purchase price or total lease payments. The bill also adds new requirements for dealers, such as prohibiting them from assessing a lease value higher than the vehicle's advertised purchase price, and mandates that lessors comply with federal Consumer Leasing Act regulations. Additionally, the bill provides detailed provisions about consumer rights in case of default, including notice requirements, redemption rights, and limitations on deficiency judgments. The legislation defines key terms like "lessee" and "consumer" and applies to motor vehicle leases of at least one year, with most provisions not retroactively applying to existing leases but becoming effective for new or renegotiated leases after the bill's effective date.

Budget and Finance, Transportation and Infrastructure

https://malegislature.gov/Bills/194/S2434