NJ A3353

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

Lessees must receive a separate one-page summary document containing: total down payment, periodic payment amounts, mileage limits, early termination fees, and all end-of-lease fees including excessive wear charges

The one-page summary requirement is in addition to the full lease agreement, which must still contain all existing disclosure requirements under New Jersey law

The bill amends P.L.1994, c.190 (New Jersey's motor vehicle lease disclosure law) and takes effect on the first day of the third month following enactment