You must be at least 18 years old to lease a car, and some leasing companies may have additional restrictions on who can drive leased vehicles. Because a lease is a legal contract — and minors are restricted in their ability to sign contracts — car-leasing companies have strict rules when it comes to those under 18.
How old do u have to be to lease a car in Michigan?
The minimum age to rent a car in New York and Michigan is 18 years old, but renters aged 18 to 24 have to pay an additional fee of $57* in New York and $40* in Michigan.
Can you lease a used car in Michigan?
Can I lease a used car? Yes you can! When drivers in Owosso or Flint, MI start looking for an affordable car, many naturally turn to the used market to find a better price.
Can I lease a car for my daughter to drive?
Families. If you are a family with multiple drivers in your house hold you can lease a family car which everyone can drive. However the main drivers will need to be included on the lease contract.
Who is responsible for registration on a leased vehicle in Michigan?
At the end of their lease, the lessee keeps the license plate and may transfer it to the next car they choose to purchase or lease. A few leasing companies still own the plates on their leased vehicles. In these cases, the plate expiration date is the first of any month.
What happens if you crash a leased car?
You still owe the leasing company for the value of the vehicle when an accident occurs. However, you may cover repairs with your insurance policy. You may also have gap insurance that pays the difference if you total a leased car, and you suddenly owe the leasing company for the entire value of the vehicle.
Should I lease or buy a car for my teenager?
The greatest advantages of leasing a car for your teen include the following: Affordable monthly payments: Purchasing a new or even used car for your teen can be expensive. … Fewer upfront costs: In addition to affordable monthly payments, leasing comes with fewer upfront costs.
Why Leasing a car is smart?
Leasing a car has potential benefits that may appeal to some drivers: Lower monthly payments: Monthly payments for a car lease are usually lower than monthly car loan payments, so leasing could mean spending less money each month to drive the same car.
Should I lease or buy a car?
The choice between buying and leasing is often a tough call. On the one hand, buying involves higher monthly costs, but you own an asset—your vehicle—in the end. On the other, a lease has lower monthly payments and lets you drive a vehicle that may be more expensive than you could afford to buy.
Does it make sense to lease a used car?
Because there’s less depreciation with a pre-owned vehicle, you can expect used-car leases to require less due at signing, have lower monthly payments, or both. You Can Get a Better Car: Leasing a used car can also allow you to get your dream car.
What is the maximum age to lease a car?
There’s NO upper age limit with car leasing, so if you’re a senior citizen in your 70s wanting to lease a car or a retired person in your 60s or even a driver in your 80s who still loves getting behind the wheel and enjoying the freedom a new car offers, you can lease one TODAY!
Can my dad lease a car for me?
Yes! If you are a parent or a partner etc and you would like others to be able to drive this is fine as long as the leaseholder is the main driver on the insurance. Provided they are fully insured there won’t be a problem. However, we are not able to lease if the car will be used as a taxi, hired out, etc.
Can a family member drive my leased car?
Most lease contracts specify who is allowed to drive a leased car. Other than the lessee, other drivers may be restricted to a spouse or family member. Lease companies typically require a request for permission for drivers other than those allowed by the contract.
What happens if you total a leased car in Michigan?
Generally, the auto dealer buys a master policy from an insurance company to cover all the cars it leases and charges you for a “gap waiver.” This means that if your leased car is totaled, you won’t have to pay the dealer the gap amount. Check with the auto dealer when leasing your car.
Do you get a title for a leased car in Michigan?
You normally don’t get a copy of the title, as that goes to the leasing company. Rarely, you may receive a title copy to register the vehicle with your state’s department of motor vehicles. If you purchase the vehicle outright after the lease contract, you receive the official title at that point.
Can you register a car without insurance in Michigan?
You cannot register a car without insurance in Michigan, since proof of insurance is required at the time of registration.