Leasing Bill Compromise
It's all about who to sue if you get into a car accident! An old law on the books in Rhode Island would make the leasing company responsible. But early this morning a compromise bill was approved. But is it enough to keep leasing companies from leaving the state.
Thanks to an early morning vote in the House and Senate, Rhode Island car customers now have a choice.. A victory for a number of car manufacturers who had threatened to stop leasing in Rhode Island. Companies that offered leasing programs like Ford, Honda and GMAC were ready to pull out if lawmakers didn't get rid of a law that made leasing companies liable should one of their cars be involved in an accident. But late last night lawmakers came to an agreement on an auto leasing bill that would limit the amount of liability on short-term leases. And companies that offer long-term leases would have no liability if the driver has insurance. The changes would be in effect for one year, during this time a commission will decide whether to make this compromise bill permanent. . Those who oppose the bill say consumers would lose the opportunity to sue the leasing company-if the driver doesn't have insurance.
|
