Massachusetts S2284 aims to establish parity in motor vehicle leasing by aligning leasing regulations with sales regulations.

Massachusetts S2284 introduces measures to ensure fairness and transparency in motor vehicle leasing. The bill mandates that motor vehicle dealers cannot set lease values higher than advertised purchase prices. It also requires lessors to comply with federal consumer leasing regulations, ensuring consumer protections are met. Additionally, the bill addresses deficiency judgments, allowing consumers to avoid liability if they cure a default before the lessor takes possession of the vehicle. The provisions apply to new leases and renegotiated leases after the bill's effective date.

Massachusetts S2284 aims to establish parity in motor vehicle leasing by aligning leasing regulations with sales regulations.

Massachusetts S2284 introduces measures to ensure fairness and transparency in motor vehicle leasing. The bill mandates that motor vehicle dealers cannot set lease values higher than advertised purchase prices. It also requires lessors to comply with federal consumer leasing regulations, ensuring consumer protections are met. Additionally, the bill addresses deficiency judgments, allowing consumers to avoid liability if they cure a default before the lessor takes possession of the vehicle. The provisions apply to new leases and renegotiated leases after the bill's effective date.