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Q: Car Insurance paying for lease payments to a vehicle being repaired ( No Answer,   2 Comments )
Question  
Subject: Car Insurance paying for lease payments to a vehicle being repaired
Category: Miscellaneous
Asked by: tremaine-ga
List Price: $15.00
Posted: 24 Feb 2006 13:55 PST
Expires: 26 Mar 2006 13:55 PST
Question ID: 700584
My question is regarding damages received due to an auto accident
which was not my fault.

My car is currently being repaired due to an auto accident for which
the other drived was at-fault.  I have learned that it will be
possibly 3 months until my car is finished.  During this time I have a
rental car for which the other party's insurance will reimburse me
for.  During this 3 month period, I have to continue to make lease
payments on a car which I can't drive.  Since this is lost money which
I can't get back in anyway, being that I have to turn the car in at
the end of the 36 month term, am I eligible to be compensated for the
lease payments made during this time.  Basically, this is $1800
dollars I am paying to lease a vehicle which I can't use due to an
accident that wasn't my fault.  Money down the drain.  Could you
please find any information regarding this topic?  Do you have to take
legal action, or sue?  Any record of anyone ever being compensated for
lease payments on a vehicle they had in the same situation?

Thanks,
John
Answer  
There is no answer at this time.

Comments  
Subject: Re: Car Insurance paying for lease payments to a vehicle being repaired
From: markvmd-ga on 24 Feb 2006 19:31 PST
 
Just my opinion, but I think because you are being given a car to
drive you are not actually out anything.

Let's say you were leasing (which is legally different from renting in
ways I really don't want to go into) a house that became
uninhabitable. If you were given another dwelling unit during the
uninhabitable time-- time when you are legally obligated to make lease
payments-- then you have not really  suffered a loss. You are paying
for a place to live and you have a place to live. So long as the units
are comparable-- not identical, not equal, but comparable-- you are
being compensated.

Unless you can show that the replacement vehicle is causing hardship
(say, you have seven kids and your crashed maxi-van is being replaced
with a Miata; or you are the rainmaker for a major law firm and your
*shudder* Maybach is replaced with a Pinto), then you are being fairly
compensated.

It is nobody's fault but your own that you are leasing a $600 per
month car, nor is it anyone's fault but yours that you aren't buying
instead of leasing. You are paying money to drive a car. You are
driving a car. If you want your lease payments made, give up your
rental.
Subject: Re: Car Insurance paying for lease payments to a vehicle being repaired
From: myoarin-ga on 25 Feb 2006 13:27 PST
 
I agree.  You have a presumably comparable car to drive, and that is
what you are still making lease payments for.

Three months to repair a car seems extreme, but that is the other
guy's insurance company's problem, but maybe also yours when it comes
to returning the repaired car after 36 months.  If returning a car
that has been in a major accident impinges on the valuation of the
vehicle for any calculation involving your money, you should insist
now on something in writing from the other insurance company to the
effect that it will make up the difference.

This is no professional opinion (see the disclaimer below).

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