Bill > A3353

Introduced Session

This bill clarifies that a motor vehicle lease agreement is to include an additional disclosure clearly identifying all fees that may apply at the end of a lease agreement. Under current law, every lease is required to disclose the conditions of the lease. For example, the lease is to disclose whether or not the lessee has the option to purchase the motor vehicle at the end of the lease term, the total amount of all payments required at the inception of the lease term, and the number of periodic payments to be paid during the term of the lease and the amount of each payment. This bill clarifies that, in addition to all current disclosures, the lease agreement is required to clearly identify all fees that may apply at the end of the lease agreement. This bill also requires that all price amounts that are required to be disclosed in the lease agreement be written in 14-point bold type. The bill also requires that, in addition to the lease document, every lessee is to be provided with a one-page summary which includes the following information: (1) the total down payment required at the inception of the lease term; (2) the amount of each periodic payment to be paid during the term of the lease; (3) the mileage limit under the lease agreement; (4) the termination fee and any fees resulting from an early termination of the lease agreement; and (5) the total amount of all payments or fees that may apply at the end of the term of the lease including any liability which may be imposed upon the lessee because of excessive wear or damage of the motor vehicle.

AI Summary

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Sterley Stanley (D)*, 

Introduced, Referred to Assembly Consumer Affairs Committee (on 01/13/2026)

Official Document