Timeline for Suppose leased car is totalled: what are financial implications?
Current License: CC BY-SA 4.0
17 events
| when toggle format | what | by | license | comment | |
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| Jun 11, 2019 at 16:26 | comment | added | Locoluis | eleven feet eight inches (?) | |
| Jun 11, 2019 at 10:02 | comment | added | David Richerby | Asking for a friend, of course. | |
| Jun 10, 2019 at 19:53 | answer | added | damian | timeline score: 2 | |
| Jun 10, 2019 at 16:56 | comment | added | Mast | Who's liable for the damage in the contract? | |
| Jun 10, 2019 at 15:18 | comment | added | WendyG | @davidbak so credit with a balloon payment, a lease(an actual lease not just a fancy name for a loan) is where it is illegal for the leasee to own the vehicle at the end of the lease, it has to go back to the lessor, it is all to do with tax and who gets to write the depreciation off as a loss, and who gets to call it a service which is tax deductible in a different way. But as it is business to business the rules are really weird. This comment was correct at the time of me working in vehicle credit about 15 years ago) | |
| Jun 10, 2019 at 14:57 | comment | added | davidbak | @WendyG - USA, but fascinating that in the UK it makes a difference! (?) For leases here I can wait to choose at the end of the lease whether to buy (for residual value, spelled out in the contract) or just return it and walk away (assuming within the mileage limit and no damages). | |
| Jun 10, 2019 at 14:55 | history | edited | davidbak |
add location tag
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| Jun 10, 2019 at 14:45 | review | Suggested edits | |||
| Jun 10, 2019 at 14:55 | |||||
| Jun 10, 2019 at 14:38 | comment | added | WendyG | were you expecting to own the car at the end of the lease, or was this lease on the basis you will return it to the car's owner? as in UK law this makes quite a difference | |
| Jun 10, 2019 at 14:31 | comment | added | MSalters | I suppose there's are international differences. E.g. in the Netherlands, private lease typically includes the comprehensive insurance. This greatly simplifies matters, as there are now only two parties involved. In case of dunk driving, you'd still be responsible, but by default the lease company just loses the car. (They're likely large enough to self-insure) | |
| Jun 10, 2019 at 12:25 | vote | accept | davidbak | ||
| Jun 10, 2019 at 9:00 | history | tweeted | twitter.com/StackFinance/status/1138008076949315586 | ||
| Jun 10, 2019 at 0:50 | history | became hot network question | |||
| Jun 9, 2019 at 18:58 | answer | added | Harper - Reinstate Monica | timeline score: 21 | |
| Jun 9, 2019 at 18:06 | answer | added | Jan | timeline score: 4 | |
| Jun 9, 2019 at 16:48 | answer | added | xirt | timeline score: 26 | |
| Jun 9, 2019 at 16:40 | history | asked | davidbak | CC BY-SA 4.0 |