(a) In this subtitle the following words have the meanings indicated. (b) (1) “Adjusted capitalized cost” means the amount which serves as the basis for determining the base lease payment, computed by subtracting from the capitalized cost any capitalized cost reduction. (2) “Adjusted capitalized cost” is amortized during the lease term to the estimated residual value by the application […]
(a) A lease shall be in writing and signed by the lessor and the lessee. (b) The printed portion of the lease, other than directions for completion of the lease and the text of any assignment between the original lessor and an assignee, shall be printed in a size equal to at least 8 point type. The […]
(a) A person who leases vehicles to lessees may not: (1) Make any false, falsely disparaging, or misleading oral or written statement, visual description, or other representation of any kind that has the capacity, tendency, or effect of deceiving or misleading a consumer or lessee; (2) By any means advertise or offer to the public any motor vehicle […]
(a) To the extent that §§ 2-313 through 2-318, inclusive, of this article apply to the purchase of a motor vehicle, the rights and remedies provided for in those sections shall apply to the lease of a motor vehicle and may be exercised by any lessee. (b) If the warranty period is to include those miles of […]
(a) Title 2A of this article shall not apply to motor vehicle leases governed by this subtitle. (b) Except as provided in subsection (a) of this section, this subtitle does not limit the rights or remedies that are otherwise available to a lessee under any other law, including any implied warranties, including the federal Magnusson Moss Warranty […]
(a) (1) This subtitle applies only to the lease of a motor vehicle where the lessee has signed or been offered the lease in this State. (2) This subtitle does not apply to a fleet lease of 5 or more motor vehicles. (b) A lessor, manufacturer, factory branch, distributor, or dealer may not exclude or limit the operation of […]
(a) Except as otherwise provided in this subtitle, a lessor who fails to comply with any requirement imposed by this subtitle with respect to a person shall be liable to the person for: (1) Any actual damage sustained by the person as a result of the failure; and (2) An amount equal to 25% of the total amount […]
(a) (1) A lessor may repossess a leased motor vehicle if the lessee is in default or a law enforcement agency has seized the motor vehicle and will not unconditionally return the motor vehicle to the lessor. (2) The lessor may repossess the leased motor vehicle from a lessee only by: (i) Legal process; or (ii) Self-help, without use of […]
(a) This section applies if the lease provides that the motor vehicle is to be sold after repossession and the lessee is to be responsible for any deficiency arising from the sale of the motor vehicle. (b) (1) The lessor shall sell the motor vehicle that was repossessed at: (i) Subject to subsection (c) of this section, a private […]
Any penalties or charges set forth in the lease or claimed by the lessor in the event of early termination or default must comply with the standards set forth in the Consumer Leasing Act.
