MI HB6397

Amends the 1990 Motor Vehicle Lease Act to add definitions for "end-of-lease fees" (fees charged by lessors for not renewing a lease at contract end) and updates terminology from "natural person" to "individual" throughout.

Requires lease contracts to include a separate statement disclosing any end-of-lease fees to the lessee, with lessee signature or initials required to confirm understanding before signing the contract.

Mandates that lessors verbally disclose end-of-lease fees to the lessee before the lease is signed.

Allows lessees to bring civil action against lessors who fail to provide required notices or obtain signatures for end-of-lease fees, with successful lessees recovering actual damages or $250, whichever is greater, plus reasonable attorney fees.

Defines actual damages as limited to either the difference between early termination payoff balance and actual cash value, the amount of end-of-lease fees, or both as applicable.