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Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
- Referred to consumer protection
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Prohibits the imposition of certain fees at the expiration of a term on a motor vehicle lease which constitutes administrative, clerical or handling charges
In Senate Committee · Consumer Protection · Sponsor Steven Englebright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the personal property law, in relation to prohibiting certain provisions in retail lease agreements
Purpose
To prevent the imposition of certain fees at the expiration of a term on a motor vehicle lease which constitutes administrative, clerical or handling charges.
Summary of provisions
This bill adds a new section (j) to § 337(14) of the Personal Property Law dealing with retail auto lease agreements.
Justification
The proposed new section prohibits charging a turn-in fee at the expiration of the term of the lease the basis of which is solely for administrative, handling or clerical charges.
When a lessee turns in an automobile at the end of the lease which has not been damaged nor exceeds the contractual mileage allowed, there is no basis for charging an additional amount called a turn-in fee for purely administrative costs for the dealer to accept the automobile.
This is a fee very seldom discussed with the lessee at the time that the lease is signed. The lessor often offers to waive such a fee as an incentive to the customer to do a subsequent lease. This discourages the consumer from seeking the best rate available.
Legislative history
2007-08, S.4124; 2005-06, S.2405; 2003-04, S.1032; 2001-02, S.2225.
Fiscal implications
None to State.
Effective date
This act shall take effect on the first of January next succeeding the date on which it shall have become a law and shall apply to leases executed on and after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.