Leasing and financing a car?

Luana Carothers: You first need to know if you are going to lease or finance... because that could change both your monthly payments and insurance premium. Small companies may offer higher rates too. (think about that)If you lease or finance a vehicle, you are financially responsible for that vehicle. The financing/leasing company requires you to have full coverage to make sure that if anything happens to the car during the time you are still making payments, they have a way to recover their money. You will have no choice but to get full coverage....Show more

Willis Liburd: when you finance a car your getting a loan for the car. They mean the same thing dude. if your trying to ask about leasing a car and getting a loan for a car. Then yes, you still have to get full coverage. not matter what. the only way you can get out of having to get full coverage is to pay the car off in full and not owe any money on it to any bank or dealership.

Jene Licausi: You are con! fusing terms here. Financing means you either get a loan or a lease. Both are forms of financing. But either way, the finance company wants to make sure their collateral (the car) is protected by full-coverage insurance. They don't want you wrecking the car and walking away.BTW, since you obviously don't understand either loans or leasing, I recommend you educate yourself before you go buy a car. Otherwise, you are going to make a big mistake....Show more