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Leasing a car is much like leasing an apartment or home. Usually the user is under contract and pays monthly payments. Although they do not actually own the property, they own rights to the property for a specified amount of time. Leasing a car can be likened to renting a car for a long period of time. This may be an attractive option for people who trade-in to buy new cars often.
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∙ 14y ago
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What would be good collateral for a lease agreement?
A good collateral for a lease agreement would be a tangible property, such as a house, motor vehicle, financial collateral as well as intellectual security.
Can you break a lease on a new vehicle if the vehicle has not yet been delivered to you?
What are the terms of the lease? Does the lease indicate anything about delivery date? Were they required under the lease to deliver by a certain day? If so, and the day has passed, perhaps they have broken the lease.
Do you still make lease payments although the lease vehicle was totaled?
I was sued by my lease company eventhough my vehicle was totaled for not paying. I'm no expert but if I were you then I would because they have no hearts.
What happens if you default on a vehicle lease agreement?
What typically happens is that the party financing the lease will repossess the vehicle. The vehicle will typically be sold and the party financing the lease will attempt to collect the balance remaining under the lease either through a collection agency or through formal legal action.
Which type of lease do most consumers sign when buying a vehicle?
A+ Close-ended lease
Is a Plane a motor vehicle?
No.plane is not a motor vehicle.
Can a person cancel an auto insurance policy if the car is only a lease?
As long as you have another policy in place. When you signed your lease you garanteed that the vehicle would be insurred. Uninsuring the vehicle would be in violation of the lease.
Where are novated leases common?
Novated leases are common in Australia. They are a type of motor vehicle license that lets employees lease vehicles for a lower price from their employer instead of a dealership.
Is an airplane a motor or a vehicle?
An airplane is a VEHICLE. It's power is provided by a MOTOR.
Can a coporation deduct a lease payment?
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
Where can one go to auto lease a vehicle?
You can lease a car from most dealerships. You can only lease new vehicles and not every vehicle is available to be leased. To lease a car you simply make a small down payment. Usually less than 20% of the cars value. Then you make monthly payments for the rest of the lease. When the lease expires you have to return the car.
