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When you lease a car you enter into a contract with the company that leased the car to you.
The contract will require fixed payments from you over a fixed term. You have use of the car for that period, provided you pay all the payments due.
Depending on the terms of the contract, you may have to tax and insure the car, but some leases may include such costs within the lease charge.
The contract will also state whether or not you are responsible for repairs and maintenance of the vehicle, or whether the leasing company has already included the costs of such necessary matters within the lease payments you have contracted to make.
You will be responsible for things like fuel and oil, but the lease will tell you what else you may be responsible for.
The lease may include mileage limitations. If you exceed the agreed mileage you will incur extra costs.
Similarly there may be contractual conditions in the lease regarding any damage the car may suffer whilst in your possession. Invariably you will be required to pay a substantial portion of any such damage, however caused.
If you lease a car, remember that it is not your car; you are 'borrowing' it for the period of the lease. You must take care of it, and return it in good condition at the end of the lease.
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∙ 13y ago
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What if your husband files bankruptcy and you have a leased car?
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What happens when you total a lease car?
When a lease car is totaled, the car company will require the car lessee to pay the lease balance to get out of the contract. This is applicable for a wrecked car and non-reparable vehicle.
What happens if you lease a car and then move to another state?
Nothing changes as far as your lease goes.
If you volunteer a reposession on a lease car and the car is not operable what happens?
They repossess it anyway and you could be responsible for the repair cost, depending on the lease contract.
What happens at the end of a car lease?
At the end of a car lease u return the car to the dealership. The most u get is a 6 month extension. Hope that helped. Adios.
What happens if you give up a car before lease is up turn into dealership after 13 months on a 3 year lease?
If you give the car back to the car dealership before your lease has expired, then the lease is over. You stop paying the monthly payments. This is very common in people who want a low monthly payment, thus they get a long car lease and then end up trading back in the car for a new car before the lease has expired.
If the primary borrower on a cosigned car lease dies. what happens to the car?
The person who's name is on the Title is the owner of the car.
If you lease a car and file for bankruptcy what happens to the car?
You will most likely still owe on the lease but the balance due might be dischargeable. But you will for sure lose the car. A bankruptcy attorney will be able to tell you for sure.
What happens if you already have a lease on your car and you co sign for your boyfriends car?
It means you are legally reliable for your boyfriends car if he does not make payments.
Can you Lease a car from someone with a loan on the car?
No. In my experience and from what I've read, it is not wise to lease a car from someone with a loan. They can still be held responsible for the car if anything happens to it. If you cannot afford to make the payments and the bank comes to collect the car, and the owner does not have it, they can be arrested.
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.
What happens when a leased vehicle is destroyed in an accident and there is no insurance?
Usually, the lease car is required to be insured ... and the lease is most likely dependent on continued auto insurance being in force. If the car was destroyed (totalled) and there is no insurance to cover the loss, the car is then gone, but NOT the lease payments ... You will still be required to pay the lease as agreed upon ... would have been far cheaper to have had insurance.
