RedBenzChic
07-06-2003, 10:56 PM
Hello everyone :) I also have this posted in the Conneticuit and Long Island chapters so I will copy it from there :)
This may have been discussed before but I always just thought it was a BAD rumor. I went to use LeaseCompare.com and they are no longer offering automobile leases to residents of New York, Rhode Island, Maine and Conneticuit. The message reads "Due to vicarious liability laws, our lenders no longer offer leasing in the states of New York, Connecticut, Rhode Island and Maine.
Vicarious liability laws dictate that an accident victim can sue the owner of the vehicle for damages, regardless of whether or not they were operating the vehicle. By law, the "owner" is defined legally as the person or business whose name is on the title. For leases, the name of the financial institution providing the lease is on the title.
Obviously, this sucks the big one :( It's not a definite law yet but the website www.saveleasing.com said "On March 5, 2003, the New York Senate passed S. 397 by a vote of 47-15. Click here to see how your state senator voted. Now it’s more important than ever to contact your Assembly member to urge them to support A. 1042." regarding this new law and that doesn't sound good! Residents of those states can go to SaveLeasing.com and enter their name and address and have a prewritten letter sent to the political officials in your state. It takes all of 1 minute to do. I don't know if it makes one bit of a difference but I guess it is the least I/we can do at this point :(
I do not want to start a debate about leasing vs financing. I have financed and I have leased. I prefer leasing as it is better suited for my lifestyle. I just wanted to make everyone aware of this :) :)
This may have been discussed before but I always just thought it was a BAD rumor. I went to use LeaseCompare.com and they are no longer offering automobile leases to residents of New York, Rhode Island, Maine and Conneticuit. The message reads "Due to vicarious liability laws, our lenders no longer offer leasing in the states of New York, Connecticut, Rhode Island and Maine.
Vicarious liability laws dictate that an accident victim can sue the owner of the vehicle for damages, regardless of whether or not they were operating the vehicle. By law, the "owner" is defined legally as the person or business whose name is on the title. For leases, the name of the financial institution providing the lease is on the title.
Obviously, this sucks the big one :( It's not a definite law yet but the website www.saveleasing.com said "On March 5, 2003, the New York Senate passed S. 397 by a vote of 47-15. Click here to see how your state senator voted. Now it’s more important than ever to contact your Assembly member to urge them to support A. 1042." regarding this new law and that doesn't sound good! Residents of those states can go to SaveLeasing.com and enter their name and address and have a prewritten letter sent to the political officials in your state. It takes all of 1 minute to do. I don't know if it makes one bit of a difference but I guess it is the least I/we can do at this point :(
I do not want to start a debate about leasing vs financing. I have financed and I have leased. I prefer leasing as it is better suited for my lifestyle. I just wanted to make everyone aware of this :) :)