I totalled my car, I didn't get the police report back yet so I don't know what is on the report yet. I tried to avoid someone and basically fcked myself. I crashed into a building. The car was a lease, what happens if the insurance declares it a total lose?
Sorry to hear about this....
The lease co. owns the car & insurance is in their name.
Payout goes to them.
The lease co. owns the car & insurance is in their name.
Payout goes to them.
Registered User
real sorry to hear about this. best of luck with everything, and at least you're ok.
Registered User
Quote:
If the insurance declares the car being a total loss, They will find out how much the car is worth and pay the retail value of the car which is determined by year, model, mileage, etc.Originally Posted by JohnG35C
I totalled my car, I didn't get the police report back yet so I don't know what is on the report yet. I tried to avoid someone and basically fcked myself. I crashed into a building. The car was a lease, what happens if the insurance declares it a total lose?
I'm not sure about a lease but... I think lease comes with what they call GAP coverage which will pay off what's left if anything at all after the insurance covers the retail value. Example.. The car is worth 35k and loan left on the car from lease is 40k the remaining 5k will be paid by GAP.
That really sucks man.. I know how you feel.. I just totaled my Evolution with alot of my money invested into it. What hell I've been going through these couple weeks and to make it worst Christmas is coming.
Glad your ok.. thats what matters most.
Take some pics of the car if you can... that way we can give opinions on to wether it's totaled or not.. you never know but atleast you can get a idea and prepare for it.. otherwise the insurance should be fairly quick to look at it.
Sorry to hear of the accident.....glad you're ok.
The lease co. with get the claim. Is the ride a write-off?
C.
The lease co. with get the claim. Is the ride a write-off?
C.
Registered User
Quote:
I have more at home
write-off!!! do u have a waiver of depreciation clause in your insurance? (i'm in canada so i don't know if u have similar in the u.s.). if so... that total car will be payed off. unless of course something evil shows up in the police report... then u've got a fight on your hands. i hope it all works out for u.Originally Posted by JohnG35C
I have more at home
Registered User
Hey can you strip your car for the spare parts? Make some extra cash while you're at it. *ahem Navi
Registered User
man thats rough..glad you made it outta there in one piece...good luck with insurance.
THE BATMOBILE
sorry to see..........those pictures are ridiculous...........lucky you made it out ok
