Lease costs going up!!!! - Saab General Bulletin Board - Saabnet.com
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Lease costs going up!!!!
Posted by Tom Hayes (more from Tom Hayes) on Tue, 21 Jan 2003 17:19:33
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Several states including NY & Conn hold the owner of the vehicle liable as well as the negligent driver. Ergo, the lease company is held liable and has deep pockets as the lawyers like to say. Ford leasing just got nailed with a 51 million (not an error) dollar award for in infant that was left orphaned when the parents were killed by a drunken bar maid from suburban Buffalo NY. Another award in the Albany area went for 28 million. The leasing companies have been held liable for over a billion dollars in the last 2 years. GM will increase the money down from $500 to $1,000 and Ford is going from a lease to a ballon payment at the end of a purchase loan that will be an option.(This way Ford is not an owner) You will of course have to pay the tax on the full price of the vehicle. I suspect everyone will pay for these excessive verdicts. Just as a note of interest, The infant had already been adopted prior to the award and was not involved in the accident. Regards to all
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