QUESTION
What can be done if leased car totaled due to other party's fault?
Asked on Apr 30th, 2013 on Personal Injury - California
More details to this question:
My leased car was totaled due to another party fault. It was hit by another person just 7 days after I bought the car. I paid a down payment of the car of around 5K. The other insurance company has not yet accepted the liability but once they accept liability I am not sure what will happen to the down payment I did for the car. Can you please help me with this?
6 ANSWERS
The insurance carrier will pay the fair market value of the car, probably paying the leasing company first as it has a lien on the vehicle, and you last, so you may get very little.
Answered on May 08th, 2013 at 1:30 AM
Insurance Attorney serving Seattle, WA
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Lawrence Kahn Law Group
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The at fault party is responsible for the fair market value of the car as well as the diminution in value of your car, assuming it isn't totaled. This would likely include your 5k down payment or a good part of it.
Answered on May 03rd, 2013 at 12:26 PM
James Eugene Hasser
In Alabama, they will owe the owner the value of the vehicle. How that affects you, I can't tell you because I don't have the particulars of the lease. You need to look at what it says about total destruction of the vehicle during the lease term.
Answered on May 03rd, 2013 at 12:26 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would note that you are adequately insured, as in Michigan they will be you and your insurance policy which will have to sort this out.
Answered on May 03rd, 2013 at 12:26 PM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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Your question is confusing. You say it was a leased car, then you say you bought it. you cant do both. Then you said you paid 5000 down (sounds like a purchase) Make sure you know what you are talking about. Take all of your paperwork to a personal injury attorney
Answered on May 03rd, 2013 at 12:25 PM
Car/Auto Accident Attorney serving Hacienda Heights, CA
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Gary Lee Platt
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Despite the fact that the car has been damaged and cannot be driven (until it has been repaired, if it can be), you are still responsible for making your lease payment on the car. If the other driver's insurance.
Answered on May 02nd, 2013 at 11:18 PM