Ford Credit to Exit Leasing in Rhode Island in October
In response to current vicarious liability state law, Ford Credit announced on June 30 that it would exit auto leasing in Rhode Island in October 2003. According to the company, the vicarious liability law has resulted in significant payouts by finance companies to resolve litigation. “We realize that the Rhode Island legislature is considering legislation that would remedy the situation,” said June Awad, Ford Credit regional manager. Awad went on to note that if the legislation is passed and signed into law, Ford would continue to lease there.Customers who have already purchased a vehicle through Ford Credit will not be impacted by the move.