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Does an auto dealer such as Nissan have the right to repo a leased vehicle if the vehicle is not insured?

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2015-07-15 18:47:27
2015-07-15 18:47:27

YES. Read your contract. Does it call for you to maintain ins???

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You are covered if you are a licensed driver regardless what they say. A leased vehicle is owned by the leasing agency not by the person who is leasing it. The terms of the contract will designate who may or may not drive the vehicle and nothing else applies.

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A company owns a truck that is used to move semi-trailers and this company is self insured has leased a driver from another company and the driver has an accident on the truck owners property that involves only the truck who would be responsible for the damages. The company who owns the truck and their insurance or the company who leased the driver ?

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All you do is call a dealer that sell that make. If not leased by the manufactuer call the leasing company for instructions

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You will have to pay any balance due after the car is sold and then it ruins your credit.

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The extra driver needs to be added onto the insurance policy. Having someone drive a vehicle and not having them on the policy can be a large problem if an accident were to happen.

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When a vehicle gets repossessed it either goes back to the dealer who leased it, or, and more commonly, it is auctioned by the reclamation company. You would need to attend one of these auctions to be able to bid on one, and even then, a lot of times you have to be a licensed dealer to participate. Check on the local regulations and restrictions on the auto auctions in your area.

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the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.

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YES LEASED VEHICLE SCAN BE REPO'D, YOU NEED TO READ YOU LEASE AGREEMENT AND CHACK LOCAL AND STATE LAWS.

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If it's leased from you, there's no need for a lien, as the terms of the lease already cover what a lien would cover insofar as asset recovery goes. If you're leasing the vehicle, then no, since you don't own the vehicle to put a lien on to begin with. Mechanic's liens, and government liens (e.g., impound liens), however are still applicable to a leased vehicle.

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Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.

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That would depend on what it says in your lease agreement.

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Provides insurance against legal liability for property damage to business premises leased or rented to the insured.

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If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).

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Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.

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it's out now! just leased the 360 pack for $300 a month! I love it

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NO, a lease is simply a contract like a loan. DEFAULT of either calls for repossession.

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The leasee is responsible, unless the vehicle is still under warranty and the problem is covered under said warranty

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READ your lease contract. It should specify the results of repossession.

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Refinance for however much is left owing on the vehicle.

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depends on your definition of lease........if you rent a car to go on vacation for a week or so.....that is a ''temp replacement vehicle'' and would be covered.....non owned auto means, you have ins. on your vehicle you borrow mine that is uninsured for whatever reason, or just has liability but your vehicle has 'full coverage' you get in accident driving my uninsured vehicle.....(if no coverage on my vehicle now only)......then your policy will kick in.......a leased vehicle needs to have it's own policy just as if you purchased a new vehicle

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No, a 5 year old can buy a car. Legally driving it is different.

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The only way her vehicle can become repossesed is if she missed a payment.

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Highly unlikely they will rescind the contract. All you can do is ask the selling dealer. Legally the answer is no.


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