Motor Vehicle Retail Leasing Laws

Businesses that lease vehicles must follow New York State laws.

Key rules for vehicle leasing:

• Businesses cannot offer discounts for your help in leasing or selling a vehicle.
• Businesses must make available a blank copy of the lease before any transaction.
• Customer payments cannot be refunded if they break the lease agreement.
• Businesses must refund customers and tell customers about their right to a refund if a lease application is not approved.
• Customers must get refunds within 15 business days of any offer.
• Businesses cannot lease the same vehicle to two people.
• Customers must get a written notice if they are responsible for lost or damaged vehicles.
• Retail lease agreements must be in writing and signed by the customer and an employee of the business.