Function
Cars leased in Minnesota usually lease for two to four years. You are not the car's owner; the leasing company holds the title of the car as you make monthly payments. You receive a warranty for the vehicle.
Requirements
You must provide valid car insurance and a Minnesota driver's license, as well as perform regular maintenance.
Benefits
Some people simply enjoy driving a new car; leasing enables you to trade vehicles every few years. Others find it is a way to avoid a hefty up-front payment required for some new cars.
Considerations
Leasing may seem like a simple monthly charge, but there are fees to consider before signing. Leasers must pay front-end (security deposit, down payment and acquisition funds) and back-end fees (cleaning, repair). There may also be fees if you terminate your lease early, exceed the number of miles in the agreement, or are fined for extra wear-and-tear on the car.
Lemon Law
In Minnesota, the earlier you bring a leased car lemon law claim to court, the better chances of a verdict in your favor. The court does not react favorably on suits brought close to the end of a lease term. If the court case results in your favor, the leasing company must pay off the entire amount of your lease.
Article Written By Filonia LeChat
Fionia LeChat is a technical writer whose major skill sets include the MS Office Suite (Word, PowerPoint, Excel, Publisher), Photoshop, Paint, desktop publishing, design and graphics. LeChat has a Master of Science in technical writing, a Master of Arts in public relations and communications and a Bachelor of Arts in writing/English.
