Massachusetts H3779 amends laws to ensure parity in motor vehicle leasing, including warranties, disclosures, and deficiency judgments.

Massachusetts H3779 amends existing laws to establish parity in motor vehicle leasing. It mandates warranties for leased vehicles similar to those for purchased vehicles, requires disclosures for leased vehicles consistent with federal regulations, and limits deficiency judgments for leased vehicles under certain conditions. The bill also addresses the assessment of vehicle values in lease agreements, ensuring they do not exceed advertised purchase prices. These changes apply to new leases and renegotiated leases but do not affect existing leases in default before the act's effective date.

Massachusetts H3779 amends laws to ensure parity in motor vehicle leasing, including warranties, disclosures, and deficiency judgments.

Massachusetts H3779 amends existing laws to establish parity in motor vehicle leasing. It mandates warranties for leased vehicles similar to those for purchased vehicles, requires disclosures for leased vehicles consistent with federal regulations, and limits deficiency judgments for leased vehicles under certain conditions. The bill also addresses the assessment of vehicle values in lease agreements, ensuring they do not exceed advertised purchase prices. These changes apply to new leases and renegotiated leases but do not affect existing leases in default before the act's effective date.