I was driving within speed limit on a main road without stop signs and traffic lights.
An old lady was at one of the small street trying to make a left turn,
she stopped at the stop sign untill I was about to pass by, she then decided to hit the gas and jumped right out when I was about 5 feet away.
Anyhow, I ran into her driver side rear door, but 90% chance its her fault.

My insurance decided its a total loss for the car.

My question is:
The car is leased,
I've only had the car for 11 months, still got 37 more months to pay.
From what I understand is that the insurance company will be paying the leasing company with blue book value and I will end up with no car/money at all?

How is it the other party's fault and I end up with nothing?

 

You dont get money since the car "was never yours" to begin with. You pay as you go with a lease...so what you paid for in the past was to use it for as long as you did. You won't get that back, but Infiniti will get reinbursed for thier loss.

 

then you go out and get a new lease and you have a new car

 

Hope you have gap insurance on the car because if you don't and your loand is more than the car is worth then you will be stuck with the balance.

But if the lady made a left turn in front of you then you wouldn't be at fault so instead of going through your insurance I would tried to have her insurance compensate me. Also when the insurance is making the offer, don't take the first offer if it doesn't sound good.

I had this happen to me, with Allstate, but I didn't take the first offer and we went back and forth on how much I would settle the claim. I also got Allstate to paid for my rental because it wasn't my fault.

 

It wasn't your fault right... so her insurance would have to pay for it ayways... and yeah... I don't think your going to get any money in your pocket... not unless the valuve is higher than what you owe...

 

Since the car is not your property, why would you expect to get something? Your situation is no different than if you were driving your friend's car and the same thing happened. The Insurance company would issue a check to your friend and not to you. You just happened to be the driver.

It could be worse. Let's say that you bought the car instead of leased it, and took out a loan for four years. The value of the car at the time of the accident could be less than the amount you owed, so you would have to pay the differance to the bank unless you had gap Insurance.

 

only way to get money out of it is to have an injury and sue her.

 

Why would he need gap insurance on a lease? How does that work? I thought Gap insurance ONLY applies if you bought your car...the only thing that has happened here is that the lease is now broken, so the penalty may apply, but either way insurance picks up the tab on that.

 

People today believe that "leased" cars do not belong to you. That is not true. With a lease you are only paying for the depriciation on the vehicle until you decide to finish off the principal on it or sell it back to the leasing company(aka trading it in on another lease) so its cheaper payments. You still own the car as much as someone that got a loan from a bank and gave that bank the title until its paid off.

WITH that said i think its standard practice for Infiniti to have gap insurance on all thier leases. at least thats what i was told by my Infiniti finance person.

I would call your leasing company and get some info asap.

-DZ

 

what really sucks...is when you lease a car you still have to pay the tax and tag...or at least here in oklahoma. so now...this dude has to go lease a new car, and pay that tax and tag again. not very fair if you ask me.

Is your neck starting to bug you? Mine would be.

 

LOL

 

I've hired a lawyer already,
the accident happened 2 days ago,
so they don't have much information yet.

Does anyone know if I can request their insurance for partial of my down payment back? plus injuries?

It just seems very unfair to me that I am losing my down payment+tax after only 11 months when it's others at fault.

 

unfair waaahhhh life isnt fair, thats what happens when you lease, what you can do if you have injuries, you can get compensated for that

 

I owned a brand new mustang years ago. About 6 months into owning it my wife took it to a detailing place and the teenager that they assigned to it didnt know how to drive a stick and he thought he could handle it just to take it around to the back. Well he had it up to about 60 in a few short seconds before a tree stopped him. It was a total loss. I ate $3000 on that one. Ever since then i MAKE sure to get gap insurance. Dont even get me started on trying to get a lawyer to help me. thats a joke.

I hope it works out for you. Im sure it will.

-DZ

 

that wasnt necessary! sheesh