New Jersey A3353 mandates additional disclosures in motor vehicle lease agreements.

New Jersey A3353 requires motor vehicle lease agreements to include clear disclosures about all fees that may apply at the end of the lease term. The bill mandates that these disclosures be written in 14-point bold type. It also requires a one-page summary to be provided to lessees, detailing the total down payment, periodic payments, mileage limit, termination fees, and total payments or fees at the end of the lease term. This summary must be provided in addition to the lease document.

New Jersey A3353 mandates additional disclosures in motor vehicle lease agreements.

New Jersey A3353 requires motor vehicle lease agreements to include clear disclosures about all fees that may apply at the end of the lease term. The bill mandates that these disclosures be written in 14-point bold type. It also requires a one-page summary to be provided to lessees, detailing the total down payment, periodic payments, mileage limit, termination fees, and total payments or fees at the end of the lease term. This summary must be provided in addition to the lease document.