Vehicle Expense

coverage provides financial protection to the policyholder against claims for bodily injury and property damage as a result of an accident

• collision insurance

• liability insurance

• deductible clause

• comprehensive insurance

pays for the damage to the insured vehicle caused by a collision with another motor vehicle or an object

• collision insurance

• liability insurance

• comprehensive insurance

• deductible clause

pays for damage to the insured vehicle from losses due to vandalism, theft and just about any other cause other than collision

• liability insurance

• collision insurance

• comprehensive insurance

• deductible clause

a clause in an insurance policy that requires the insured to pay a certain amount to cover repairs before the insurance company pays

• liability insurance

• annual premium

• comprehensive insurance

• deductible clause

contract that allows you to use a vehicle for a set time period by making a specified number of payments and will return it owning nothing if the condition is good and below the mileage threshold

contract allowing you to use a vehicle for a set period of time and at the end of the lease you can buy it for the residual value of the vehicle

the amount you pay each year for insurance coverage

make monthly payments to the leasing company, the dealer or the bank for two to five years

• lease

• depreciation

• fixed costs

• variable costs

is the decrease in the value of your vehicle from one year to the next because of its age and condition

• lease

• depreciation

• fixed costs

• variable costs

remain about the same regardless of how many miles you drive

• lease

• depreciation

• fixed costs

• variable costs