Highwayman
Well-Known Member
All, this individual is being somewhat misleading. He is not some Joe Blow walking into a car dealership off the street and leasing a vehicle - he is doing this as part of trying to get in as an Uber contract driver.
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Can a Leasing company force the leasee into buying a specific insurance?
- Thread Starter pharmeceutikle
- Start date
pharmeceutikle
New Member
I'm a Home Health RN. I'm already on the road 7 days a week. Unfortunately my car broke down 3 times within the last 2 years until finally it crapped out. Too many miles. Too old. I've been in a financial bind for 5 years running due to the IRS. I've paid off thousand of dollars twice but I keep on getting audited. I got a bullseye on my back. It seems like the more I make the more I owe! Timing is very bad now too during the Christmas holiday season. Can't afford a new car traditionally. So my best choice is Uber Xchange Leasing. No money down. Just $250 deposit. Brand new 2016 car. 3 years lease. Don't want to work anymore then return and lose your $250 deposit. All maintenance free too. Unlimited mileage where traditional leases only allow 1000 miles/month. Not too bad. With the work I do plus driving for Uber+Lyft+Sidecar I can return the car within 3-4 months buy a new car outright. Full in cash. I don't do credit. That's why it's hard to get financing. I sworn off credit for the last 6-7 years. Nursing visits is ~15-30 min for $40-$55 each. More complex visits about 45 min -1 hr 15 min for $65-$100. But, I don't get paid from home going to the patient. In between patients. Then going home for the day. Those are all empty miles which brings down my dollars per hour. That's where ride sharing comes in. Now, this is all possible. I have everything that is needed. The only roadblock is that insurance issue. Yes, I can go with MetroMile but I drive 2000 miles/month just for Nursing alone! MetroMile deducts miles from Uber but not Lyft or Sidecar. We haven't even mentioned non-business driving yet. I can get Farmer's Insurance. It's 3x more expensive than Mercury with just minimum coverage! I don't even know if I can go with Farmer's to get the car and then cancel and go back to Mercury. Xchange Leasing says they don't accept Mercury! They all include Ridehsare Insurance. They are all the same across the board except for coverage and pricing. That is the problem. Furthermore, How did you know I was an RN and deciding on Uber? Did you come over from the other board?
P.S. Metromile is off the list for me as they can't insure me with the amount of driving I do. They have a 150 miles/day cap and most days I'll be going well over that. I guess cost vs. risk is not in their favor.
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pharmeceutikle
New Member
OK, a little update on this situation. I did call the Dept of Insurance and unfortunately they have no authority over individual companies and how they conduct their business. This is beyond their scope. This should be a matter between the business and the consumer and would be more appropriate to take this up with the proper entities such as the BBB or a consumer protection agency.
adjusterjack
Super Moderator
I get it. This is for a business vehicle for a business you operate. All my comments are off the table. You're on your own.
pharmeceutikle
New Member
Is that a good thing? Anyways, this seem unprecedented. No one has ever heard of this happening at all. Insurance agents and industry insiders I've talked to are disturbed but cannot finger anything violating or illegal. But, what is more interesting is that if this practice catches on and is allowed to continue, then the insurance companies have much more to lose than me. They can essentially be limited or at worst completely blackballed from doing any business at all within this state from lenders or dealerships!
army judge
Super Moderator
Sorry, the VAST MAJORITY of car lessees won't be interested in leasing a car from any lessor that MANDATES the lessee to purchase CRAP insurance from FLY BY NIGHT insurers.
Most people can lease or purchase cars and choose the insurer that BEST serves their needs.
Very few people with credit and lease options would even look into the CROOKED DEAL you described in your top post.
Most people prefer NOT to allow themselves to be financially abused, molested, and cheated!!!!
pharmeceutikle
New Member
True that. But there is an out after 30 days. You only lose $250. Who says I'm gonna stick with this program for the full 3 years. As soon as I'm ready I'm out! Who knows. Maybe I'd make it out on the positive side. But, I'd sure like the chance to try and with all honesty, that shouldn't even be a problem but for one benign reason it is.
Highwayman
Well-Known Member
So what exactly are you looking for now from this forum? Either you take the deal or don't. I just had three trials today with Uber as defendant - they were found guilty and have to pay over 8 thousand dollars in fines. They love to screw people and ignore the laws. Proceed at your own risk.
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