Leasing has become more and more popular for people who are looking for the newer models of cars who don’t want to have to keep the car longer than a couple of years. Leasing a vehicle is similar to buying a vehicle in the sense that you make monthly payments for a particular amount of time. When you are leasing a vehicle, you are essentially borrowing the car from the dealership. A dealership is much more invested in a leased vehicle because they know they will be getting it back. People who participate in leasing will have many more perks to help prolong the life of the car. Perks include free oil changes, servicing, tire rotations and more.
Renting a vehicle is a shorter term option for people in need of a car. Most people will rent a car for a month or shorter because of the higher cost and lack of perks. Business people and those who don’t have a car are more likely to rent a vehicle.
Accidents Involving Leased Cars
After an accident, everyone’s priority is to seek medical attention as soon as possible. After injuries have been taken care of you will need to contact the dealership you are leasing from to let them know. Most leases will come with pretty substantial insurance options to cover a good amount of the costs. One requirement is to let your dealership know as soon as possible after the accident. Contacting your dealership will help prevent you from spending extra money. For example, if the car gets dented and you take it to a mechanic, and they fix it in a way that the dealership wasn’t ok with, then you might have to pay.
Accidents Involving Rental Vehicles
Most rental companies will offer one or two forms of insurance before handing over the keys to the vehicle. If you happen to not take advantage of the insurance, you might have to deal with the full cost if not some of it. Contacting your rental company is also necessary so that they can let you know where to take the vehicle to be evaluated. If you do choose to buy the extra insurance, make sure you read what is included so that you are aware in case an accident occurs.