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The penalties for ending a commercial auto lease will depend on the paperwork that was signed at delivery of the vehicle. Many times there is a hefty fine.
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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.
Commercial Auto Insurance Is a Must for Businesses?
When you insure a vehicle that you use for business purposes, make sure that you insure it under an authentic commercial auto insurance policy. A personal auto insurance policy will not cover many business uses of an automobile, and if you make a commercial auto insurance related claim that is not covered on your personal policy it will be denied. Therefore, when you buy or lease a car for business use, contact a commercial auto insurance broker if your general business insurance broker or provider cannot assist you with your commercial auto insurance needs.
Where can information on auto lease takeovers be found online?
You can find information about auto lease takeovers at your local car selling locations like Toyota. If not, you can go to the Autos website to find information about auto lease takeovers.
Is a cosigner of an auto lease obligated to pay the lease?
Yes. That's the idea.
Does the car have to be turned in at the end of the lease if you have stopped paying and claimed bankruptcy?
Yes you must turn the vehicle in on a lease. You are responsible for the full amount of payments on the lease. If the vehicle is not turned in it can be reposessed.Remember you never owned it. It certainly does. Unless the person likes the idea of "Grand Theft Auto" charges. You would have to reafirm your contract with the lender and pay any accrued fees/penalties.
Are there penalties for prepaying a bad credit auto loan?
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
How long does the co-signer have to stay on an auto lease?
The co-signer is responsible until the lease expires or until a new lease is executed.
What is the auto lease address?
Depends on who you financed it through.
How do you find out what it would cost you to buy out your auto lease?
Call your lease company and ask them for your payoff (or buyout).
Does Foreign Commercial General Liability include Foreign Business Auto Liability?
It can be, but it just depends on the extent of coverage you purchase. Commercial Auto is not automatically included with Commercial General Liability. If you purchase the Commercial Auto coverage along with the Commercial Liability then you will have the coverage. If you purchase only the commercial General Liability then you won't have coverage for commercial auto.
Can my employer co-sign my auto lease?
An employer can co sign an auto lease. However, most people think it is not a good idea to mix business with your personal life.
Does New York have prepayment penalties for auto loans?
Yes of course they do.
