MA S2434

Extends existing consumer protections for motor vehicle purchases to also cover motor vehicle leases of one year or longer, including the right to void a contract if the vehicle fails state inspection within 7 days and repairs exceed 10% of total lease payments

Prohibits dealers from valuing a vehicle in a lease agreement higher than its advertised purchase price, with violations constituting unfair or deceptive practices under Chapter 93A

Requires lessors to comply with federal Consumer Leasing Act disclosure requirements and allows the state commissioner to prescribe additional regulations offering equal or greater consumer protection

Expands used vehicle warranty protections and lemon law provisions to cover lessees, including definitions of "buyer," "seller," "consumer," and "purchase price" to encompass lease transactions

Establishes default and repossession procedures for leased vehicles, including 21-day cure periods, written notice requirements, and limits on deficiency judgments for balances under $2,000