Reacting to the federal transportation bill expected to be signed by President Bush, Mercedes-Benz Credit will reduce its acquisition fee for vehicles leased in New York.

As of today, acquisition fees for Mercedes-Benz vehicles will be dropped to match the fee charged in the other 49 states.

The higher fees existed in New York to help alleviate the pressure of the state’s lessor vicarious liability law, as well as to offset the high insurance premiums that came as a result.

The current vicarious liability law holds leasing companies responsible for personal injury and property damage caused by the driver of a leased vehicle. Under the proposed new federal law, lessor vicarious liability would be eliminated.

“We are pleased that both houses of Congress passed the Graves Amendment, and we anticipate that President Bush will sign the bill into law,” said Jurgen Rochert. Vice President of Mercedes-Benz Credit. “Now our dealers can offer our customers in NewYork the best luxury vehicles in the world at even more attractive payments.”