2007-03-20 19:41:17 · 8 answers · asked by filler815 1 in Cars & Transportation ➔ Other - Cars & Transportation
Although the best source for the answer is in the leasing agreement, Kuji is quite accurate in that the vehicle still belongs to the leasing company. One of the strongest benefits of leasing instead of purchasing a vehicle is that the leasing company is responsible for the maintanence of the car. If there was something not working correctly, that would be reported to be repaired. They also need to know because that will be part of the information the company would need to disclose when the sell or auction the vehicle when your lease is up.
2007-03-20 19:49:40 · answer #1 · answered by Teresa O 1 · 0⤊ 0⤋
I'm not sure if you have to tell them right away but they'll know when you turn it back in. Doesn't matter if you tell them or not.
And you will be out a few hundred dollars on the value of the car at lease end which you will have to pay out of your own pocket unless you went to your insurance and got not only the price to repair it but also the loss of value due to the accident.
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2007-03-20 20:04:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
IVE LEASED 6 CARS YOU DON'T HAVE TO REPORT AN ACCIDENT TO THEM. I HAVE HAD AN ACCIDENT NOT MY FAULT IN MY LAST LEASE 6 MONTHS BEFORE THE TERM IS UP COST ME NOTHING. THERE IS NO VALUE LOSS. IF IT IS TOTALED YOU WILL MOST LIKELY HAVE GAP INSURANCE WHICH WILL PAY FOR THE DIFFERENCE IN WHAT THE CAR IS WORTH AND ITS TOTALED VALUE.
2007-03-24 11:15:40 · answer #3 · answered by SWEET SARAH 4 · 0⤊ 0⤋
yes, they gots to know what happened to there property that they leased to you
2007-03-24 13:53:41 · answer #4 · answered by Mujahid E 2 · 0⤊ 0⤋
You don't have to report it if you get it fixed! If you don't what will you do when your lease is up??
2007-03-20 19:59:36 · answer #5 · answered by know da stuff 4 · 0⤊ 1⤋
Yes, because it's their car. They will find out about it anyway.
2007-03-20 19:46:07 · answer #6 · answered by darkdiva 6 · 0⤊ 0⤋
You probably should because technically they own the car.
2007-03-20 19:45:41 · answer #7 · answered by nightbutterfly69 6 · 0⤊ 0⤋
Yes. It's their property.
2007-03-20 19:44:07 · answer #8 · answered by Kuji 7 · 0⤊ 0⤋