UPDATE 1-Ford plans end to leasing in New York


(Updates, adds details) DETROIT, June 23 (Reuters) - Ford Motor Co.'s finance arm said on Monday it would stop leasing vehicles in New York state starting on July 10 due to a state law that holds leasing companies liable for auto accidents. Instead of leases, which account for about 25 percent of all car sales in New York, Ford has said it will shift new leasing customers into so-called "balloon" loans that work like a lease but transfer ownership of the vehicle to the driver. Several ...

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