When considering financing a luxury car, it’s important to understand the difference in insurance requirements compared to leasing. Leasing a luxury car involves a long-term rental agreement with a predetermined value at the end of the lease term. Similar to financing, leased vehicles typically require full coverage insurance. However, there’s a crucial distinction:
The leasing company usually sets specific terms for the insurance coverage on a leased car. These terms might outline the minimum required coverage limits and potentially specify the deductible amount. It’s essential to understand these requirements before finalizing your lease agreement.
Special Considerations for Financed Luxury Cars
