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post #7 of (permalink) Old 01-14-2004, 05:36 PM
04M3S
Go-Kart Driver
 
Join Date: Jan 2004
Location: Reston, VA.
Posts: 66
Leasing: Pros and Cons

Quote:
Originally Posted by "rpc180"
Pros and Cons to leasing?

Well, with leasing you will need to get full coverage insurance since the car doesn't actually belong to you....

...Insurance can be somewhat less since the car's title now belongs to you.
This is not actually true, most (if not all) lending institutions will require you to keep full coverage insurance on the vehicle, as long as they have a lean on the vehicle. And they actually hold the title until you make your last payment.

Not sure if this is just a VA/US thing, but I doubt it, it makes sense for them, because if you total your 3 and stop making payments, the bank will have nothing to repo/sell.

'04 MZ3 s
Strato Blue Mica
Auto (sad, I know)
Sport Package
ABS Package
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