COMMON QUESTIONS ASKED BY THE OWNER OR ASSIGNOR AND ANSWERS TO THOSE QUESTIONS

Question: What if you wreck the car?

Answer: The insurance company will issue a check with both your name and the lien holder’s name on it. This check will be applied towards repairing the vehicle.

Question: What if you get a ticket while driving this car?

Answer: Any points are charged to my individual driver’s license, not to the car.

Question: What if you hit someone?
Answer: The Suggested Assignment Contract states that I am driving the vehicle, and am responsible for all liabilities. Your liability is limited because I will carry 100/300/50 liability coverage or whatever your Purchase Agreement with the lien holder requires, which will protect you. As the owner of this car, you are put in the same position as an independent leasing company or car rental agency. You own the car, but you are not driving it.

Question: How do I know that you’ll make these payments?

Answer: You’ll receive a cashier’s check or money order made out to the lien holder at least ten days before your payment due date. If I’m late, you have the legal right to take the vehicle back. Believe me, I don’t want to lose it. The agreement basically states that I will make the remaining payments or pay it off early. As long as I do this, you are under contract to sign over the title to me. Nothing hidden, no surprises, it’s fair and legally binding.

Question: Why do my tags stay on?
Answer: You are still the legal owner, just as leasing companies and rental agencies are. I am the one who is primarily liable for what happens while it’s in my possession.

Question: What if you move and cannot be located?

Answer:WalkAwayLease keeps comprehensive data on all users including personal references, drivers license number and social security information. In addition, and with disclosure according to state law ALL vehicles accepted into the WalkAwayLease Payment Guarantee Program are fitted with tamper-alert GPS based anti theft and security devices. In the event of ANY breach of contract with an authorized user the asset will be IMMEDIATELLY returned to WalkAwayLease for cure per Vehicle Use Agreement.