Affordable leasing returns to New York

Nearly 20 auto manufacturers that include the likes of GM, Ford and DaimlerChrysler will again be offering New York state consumers the ability to lease their vehicles. This announcement comes hot on the heels of President Bush signing the Highway Bill into law today, which includes a provision that ends Vicarious Liability, a piece of binding legalese that holds a leasing company liable for the actions of negligent drivers. A few companies, including Mercedes Benz, continued to lease vehicles in New York despite Vicarious Liability and were forced to charge exorbitant acquisition fees. MB has already announced, however, that it will reduce its acquisition fee in New York immediately after the new bill is signed, sealed and delivered into law.