If you're planning to lease a vehicle, following points highlights some of your most important rights.
Upon request, the leasing company must provide you with a sample lease before you sign.
If you default on a monthly lease payment, you have the right once during the lease term to reinstate the lease. You must make the required payments within 25 days after receiving notice of your reinstatement rights.
Early termination charges must be reasonable and are limited under the law. The earlier you terminate your lease, however, the higher these charges will be.
Beware of leases that make you pay the difference between the estimated vehicle value when you signed the lease and the "realized" or real value when the car is returned. This can amount to a lot of money!
You may dispute an excess wear and damage claim by using the Attorney General's arbitration program set up to hear such complaints.
Upon request, the leasing company must provide you with a sample lease before you sign.
If you default on a monthly lease payment, you have the right once during the lease term to reinstate the lease. You must make the required payments within 25 days after receiving notice of your reinstatement rights.
Early termination charges must be reasonable and are limited under the law. The earlier you terminate your lease, however, the higher these charges will be.
Beware of leases that make you pay the difference between the estimated vehicle value when you signed the lease and the "realized" or real value when the car is returned. This can amount to a lot of money!
You may dispute an excess wear and damage claim by using the Attorney General's arbitration program set up to hear such complaints.
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