Yes
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
Yes, you can use a leased car as collateral for a loan, but it depends on the lender's policies and the terms of the lease agreement.
by limiting their financial liability
Yes, it is possible to sell a leased car before the lease term is completed, but there are certain conditions and procedures that need to be followed.
To turn in a leased car that is under mileage, you typically need to schedule an inspection with the leasing company. They will assess the condition of the car and verify the mileage. If everything checks out, you can return the car and potentially avoid any excess mileage fees.
Provides insurance against legal liability for property damage to business premises leased or rented to the insured.
Liability
If you have financial liability, they you have to pay money if something goes wrong. Liability means you can be held responsible and financial means money.
Legally no, The insurance company does not have a rating for you on the car and you dont have an insurable interest (legal term for financial responsibility) in the car. Therefore the lease holder would be obligated to take the car back to prevent a financial loss in the event of an accident.
Yes, if he has sufficient credit and wants to assume that kind of potential financial liability.
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
Capitalized lease obligations refer to lease agreements where the lessee records the leased asset as a capital lease on their financial statements. This means the lessee treats the leased asset as if it were purchased with a loan, and includes the lease payments as both an asset and a liability on their balance sheet.
No, because it isn't your car.
When the lease expires
Yes
That's what insurance is for.
Yes