Car Lease Insurance: Costs, Plans, And How To Buy (2021)

Advertiser Disclosure Whenever you lease a vehicle, there are minimum Car lease Insurance requirements you must satisfy before hitting the road. Luckily, the best auto insurance companies make it easy to meet the basic standards needed for Car lease Insurance. After thoroughly reviewing industry leaders, we’ve determined the top Car lease Insurance providers across the country. We’ll explain minimum Car Insurance coverage requirements, average costs, and the process to set up Car lease Insurance.   In this article: Do I Need Car Lease Insurance? When you lease a vehicle instead of Buying one, you’re still required to carry the state-mandated minimum…

Leased cars a hot commodity as pandemic pushes car prices up

CASTRO VALLEY, Calif. (KGO) — The Department of Labor’s Consumer Price Index shows used Car prices dropped last month, but Kelly Blue Book disagrees, taking a longer view. It says used cars cost about 25% more than they did a year ago. 35% more than before the pandemic began. Why? COVID has had a domino effect on Car prices. Because of Auto parts shortages, there are fewer new cars to buy, making them cost more. That has driven up the cost of used cars. And this is now reflected in the residual value of lease cars. More than a quarter…

Do I Need GAP Insurance on a Car Lease?

While GAP Insurance isn’t always a requirement on a leased vehicle, it can be a good idea to have the most coverage possible. GAP, or guaranteed asset protection, is a form of Insurance that covers the amount of your early termination if the vehicle is lost or stolen. You may be required to have GAP if you lease. Is GAP Insurance Worth It? GAP Insurance is typically low-cost, so it’s often worth it to get it when you lease or finance a Car. However, its cost and function can vary by lease or Loan. The extra peace of mind that…

Chrysler accused of charging phantom sales tax on car leases

Chrysler Capital Corp. is wrapping a “phantom” sales tax into Car leases, according to one of its customers, when leases are extended to avoid higher prices in a tight market. David Lobel of Rye Brook accused Chrysler and Santander Consumer USA, the Auto maker’s preferred provider of Car loans and leases, of deceptive business practices and unjust enrichment in a complaint filed Sept. 28 in Westchester Supreme Court. The companies are “wrongfully, illegally or mistakenly receiving funds,” the complaint states, “to which defendants are not entitled.” Chrysler and Santander did not respond to an email asking for their side of…

Car Leasing App Fair Gears Up for Relaunch

Fair CEO Brad Stewart joined in May 2020. After a tumultuous 2020, Fair Financial Corp. is looking to get back on the road. The Beverly Hills-based automotive technology company, which launched in 2016 offering subscriptions to its inventory of used cars, is changing up its strategy. In the first quarter of 2022, Fair will roll out subscriptions on leases for used cars provided by third-party vendors — with the larger goal of transforming into a central hub for all automotive retail. “We want Car shopping and transacting to be elegant, beautiful and immersive,” said Brad Stewart, who took over as…