Cost to lease a car..

Submitted by Anonymous (not verified) on Fri, 11/24/2006 - 05:58

Will the cost of my insurance vary if I lease a car ?
If I ever get stopped in that car what do I offer as a proof of my insurance ?
I'd be grateful if anyone can help me out!
Lilian Rosenberg

Posted: 24 Nov 2006 06:48 Post Subject:

hi, it does not really matter whether you buy or lease a car!
I'm sure that your insurance rates won't really vary for the same coverage. But at the sametime you ought to take care of the associated costs prior to leasing a car. All the best, Fatman

Posted: 24 Nov 2006 07:27 Post Subject:

Hi! As per my knowledge a majority of the auto lease agreements make it mandatory for you to carry atleast a certain liability limit, while your state norms may suggest a different liability limit. Sometimes this difference might invite some additional insurance costs worth hundreds or may be thousands an year, depending on your track record .
thanks, Martha Garcia

Posted: 24 Nov 2006 08:37 Post Subject:

hey its better you also know the consequences of totalling the leased vehicle. Sometimes a payout cost is specified in these leased agreements which might even be higher than the amount of your coverage. It also makes it necessary that you have to return the car in a good condition to the lessor within a specified date or pay a fine including a sum of money worthy of the loss incurred till the vehicle gets replaced. So, better you look before you leap. Sasha T.

Posted: 24 Nov 2006 10:50 Post Subject:

my friend, just don't forget that your lease may also get terminated sometimes while totaling. Under such circumstances, you'd be liable for an amount that accrues between the time that the car gets damaged till the time that the replaced car can get leased by the lessor. Keep all these in mind before you reach out to lease a car.
regards, hannah gruen

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