Bill > S127

This bill aims to protect consumers with automobile leases. It makes several key changes to existing laws: 1. It allows consumers to void a motor vehicle sale or lease within 14 days if the vehicle fails a safety or emissions inspection and the cost of repairs exceeds 10% of the purchase price or total lease payments. 2. It expands consumer protection laws that currently apply to motor vehicle purchases to also cover leases, including provisions around warranties, disclosure requirements, and repossession procedures. 3. It requires the state to issue regulations consistent with the federal Consumer Leasing Act to provide additional protections for consumers leasing motor vehicles. 4. It places limits on the ability of creditors to obtain deficiency judgments against consumers whose leased vehicles are repossessed. Overall, the bill seeks to extend important consumer safeguards to the automobile leasing market, giving lessees greater rights and recourse in their transactions.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/190/S127