A05406 Summary:

BILL NO    A05406 

SAME AS    No same as

SPONSOR    Butler

COSPNSR    

MLTSPNSR   

Amd S343, Pers Prop L

Requires written notice of wear and tear damage that a motor vehicle lease
holder is liable for.

A05406 Actions:

BILL NO    A05406 

02/13/2009 referred to consumer affairs and protection
01/06/2010 referred to consumer affairs and protection

A05406 Votes:

A05406 Memo:

 BILL NUMBER:  A5406

 TITLE OF BILL :  An act to amend the personal property law, in
relation to requiring vehicle retail lease agreements charging for
excess wear to itemize the components examined to make such
determination

 PURPOSE OR GENERAL IDEA OF BILL :
Requires vehicle retail lessors to specify the exact components that
will be examined and the methods used to examine a leased vehicle for
excess wear to determine what charges if any the lessee will incur
when returning the vehicle.

 SUMMARY OF SPECIFIC PROVISIONS :
Section 1 amends subdivision 2 of section 343 of the personal property
law to provide that a document specifically itemizing those components
that will be examined and the methods used to examine a leased vehicle
for excess wear to determine if there will be a charge be provided the
lessee prior to the finalization of the lease agreement.

 JUSTIFICATION :
Lease agreements do not specify which components of the vehicle will
be examined nor the methods used for such an examination when
calculating an excess wear and tear charge. Presently, the lessee is
at the mercy of the lessor and may find him/her self liable for damage
that is caused by something other than excess wear and tear (i.e.-
tire tread quality and rust) to the vehicle causing undue and
unexpected financial hardships.

The lessee should be able to make the decision to lease with the full
knowledge of what excess wear and tear means.

 PRIOR LEGISLATIVE HISTORY :
A5451 (2007-08) A6161 (2003-04)

 FISCAL IMPLICATIONS :
None.

 EFFECTIVE DATE :
This act shall take effect on September 1, 2009 and shall apply to all
retail leases entered into on or after said date.