@enharu wrote:So, I leased a 2014 Lexus IS250 in late 2013.
Some idiot ran through a red light and crashed into me. The car is wrecked, and there's frame damage. Driver's side door can't even be opened and I literally had to climb to the back to get out of the vehicle. There are witnesses whom are willing to testify and their statements are in my favor. And luckily, that idiot has insurance, even though he drives a beat up old car that's almost as old as me. I just hope he has enough coverage.
Not too sure what the repairs are going to be, but from the looks so far, it doesn't look good. Had a bodyshop looked at it briefly after it was towed in and they said it's possible it might be a total loss, but there's no real way to tell just yet without doing a more detailed inspection. Anyhow, I will try to have my insurance write it off as a total loss.
So from what I understand, if its a total loss, the insurance company will pay off Lexus Financial Services, and I'm out of the lease completely....? I have GAP coverage so I am not too worried about the deficiency balance.
So if I want to lease another vehicle as replacement, it will be a brand new lease account reporting onto my CRs? What about the money I have paid to Lexus? I left a larger downpayment because I wanted my monthly to be lower, but now that I am possibly not utilizing the car for the entire period of the lease that means I'm sorta on a losing end. Am I supposed to just sue the **bleep** out of that idiot to get that money back?
And in the event if the car isn't a total loss, it just has to be repaired to specifications, right...? I am going through my insurance for this and they just picked a bodyshop for me.
Somewhat irrelevant to this forums, but how do the car rentals work? I don't need a car rental since I have other vehicles, but since it's gonna be on his dime, I'm gonna rent one anyways. Is there a max rental coverage? Or do I go by what my insurance company dictates and they'll claim it from their end?
Thanks! Sorry for sounding pissy but yea I'm pretty pissed off. That car doesn't even have 1500 miles on it.
Sorry about the accident but I'm glad you are physically ok. If the car has frame damage, let it go as a loss. My understanding with the lease is you will be out of the large downpayment -best to sue him to recover your loss.
Yes, es, you'll have a brand new TL if you lease/buy another car. As far as the rental car coverage, if you are using your policy check your daily limit- usually it's $25-$30 bucks and most better carriers will allow you to keep the car until your car is repaired. If the car is a loss, you'll have a timeframe after they cut your check for the total loss...usually 30 days.
Unfortunately, this is the downside of leasing-large downpayments in the event of an accident or stolen car ends up being a double whammy
I am sorry to hear about your accident. I am glad you're okay.
There was a guy on YT, his name is Steve Meade, and at one point he had a Lexus IS250. He had the last gen body style though.
Somebody hit him and although from a distance his car seemed to be fine, up close it suffered extensive frame damage. They totalled the car out and he purchased another Lexus. I don't think he leased it though.
I hope frame damage isn't a common problem for those cars because I love Lexus cars.
I also think you may need to sue the guy for not only the money you lost but also your pain you mentioned you are suffering.
There was a guy on YT, his name is Steve Meade, and at one point he had a Lexus IS250. He had the last gen body style though.
Somebody hit him and although from a distance his car seemed to be fine, up close it suffered extensive frame damage. They totalled the car out and he purchased another Lexus. I don't think he leased it though.
I hope frame damage isn't a common problem for those cars because I love Lexus cars.
I also think you may need to sue the guy for not only the money you lost but also your pain you mentioned you are suffering.
@enharu wrote:
Thanks! I do have uninsured and underinsured coverage, but I'm not sure about the exact coverage limits and the way it's gonna work.
Have some bruises and my body aches kept me up all night, but luckily no broken bones.
I prolly will also call up a few attorneys later today and then decide what I should do next.
Sorry for your accident enharu. I hope all is well with you physically and emotionally. I know accidents can be traumatizing. I had one in 2011 in which a drunk/unlicensed 81 year old man ran into me while he was going in reverse. He clipped a telephone pole first and then continuing backing in a circle and hit me. While you certainly should consult with an attorney, you can handle the claim yourself assuming you have the time. One good thing (I assume based on your comments) is that the driver appears to be the at-fault driver. You have the option of filing a claim with your insurer and then let them go after him and his insurance company or you can handle this yourself with his insurance company. When I had my accident in 2011 (with 3 kids in the car) I eventually settled with my insurance company (oh yea besides being drunk and unlicensed, he had no insurance) a year and a half later for a total of $22,700 for all of us. I know it's not necessarily about the money, but you deserve to be made a whole again. Depending upon your state, uninsured/underinsured can be a lifesaver. It was definitely in my case sense the driver had no insurance.
(Formerly known as: Credit is my hobby (1.6M)/TCL objective)Thanks for the info.
I spoken to two different attorneys, and both said my chances of winning is extremely high, since the witness testimonies are in my favor. Both have given their statements to the police officer over the phone, and my attorney / insurance company should be calling them sometime soon as well for their statements again.
With the way things are, I most likely will be losing money for the downpayment and monthly payments that I had already paid. Assuming worst case scenario, my attorney said I will be getting compensated for hurt and pain and other misc. stuff, so that in a way will cover for the downpayment. We don't know what his insurance limits are and there's no way we can find out, so I guess it's up to how capable my attorney is to recover everything.
In the event that his insurance isn't enough to cover for the car repairs / value, my insurance will then kick in and fork out the remainder. But right now I am claiming everything from my insurance first, which will then go after his insurance for the money. Just need that guy or his insurance company to first admit they're at fault for the accident and everything else should be smooth sail from then on.
________________________________________
Have you retained the attorney or just did an initial consultation? If you have retained the attorney, the attorney can get the policy limits and so can your insurance company. Anything that you are out due to the accident, the at-fault driver is potentially liable for, depending upon your state.