TORRANCE, Calif.--American Honda Finance Corp. announced it will resume vehicle leasing in New York despite the vicarious liability law. The law says financial institutions are liable when vehicles they hold leases on are in an accident, and the liability is unlimited.
"The competitive situation in New York compels us to re-enter the consumer leasing market," said Steve Smith, senior vice president of American Honda Finance Corp. "However, it is more important than ever that the legislature act to repeal the vicarious liability statute."
