NJ A568

Motor vehicle leases must disclose the total amount of all payments or fees that may apply at the end of the lease term, with all price amounts displayed in 14-point bold type

Lessors must provide lessees with a one-page summary document containing key lease terms: total down payment, periodic payment amounts, mileage limits, early termination fees, and all end-of-lease fees including excessive wear charges

The bill amends P.L.1994, c.190 to strengthen existing disclosure requirements for motor vehicle lease agreements in New Jersey

The act takes effect on the first day of the third month following enactment