Automobile leasing companies are under legal obligation to provide customers with all of the terms and costs of the deal they are offering. The companies are bound by the Consumer Leasing Act. That law also limits how much must be paid at the end of any lease and regulates the way leasing companies advertise their deals. When purchasing a car, dealers are required by law to inform you if a vehicle you’re considering was ever declared salvage, returned under the Lemon Law, or repaired in excess of usually $500 (if it’s new). Lemon laws are American state laws that provide a remedy for purchasers of cars and other consumer goods in order to compensate for products that repeatedly fail to meet standards of quality and performance.
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