GMAC may pull leases from 3 states; Vicarious liability is cited as reason.(News) From: Automotive News | Date: January 20, 2003 | COPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Byline: Jim Henry

General Motors Acceptance Corp. notified dealers last week that it will quit buying leases in New York, Connecticut and Rhode Island this year unless those states change their vicarious liability laws.

As an interim step, GMAC raised its acquisition fee on leases by $405 in those states, effective March 1. The increase boosts the fee to $1,000 in New York and $1,075 in Rhode Island and Connecticut, said Paul Eberlein, GMAC director of leasing...