RI H8243

Prohibits motor vehicle lease contracts from using terms "down payment," "money down," or similar language to describe lump sum payments made at financing to reduce monthly lease payments

Requires lessees to receive and acknowledge a plain language disclosure in at least 11-point font explaining that lump sum payments will not be refunded if the vehicle is declared a total loss

Non-compliant financing agreements remain voidable within 30 days at the borrower's option, though the borrower remains responsible for any vehicle damage

Takes effect upon passage