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| 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 |
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| There is no answer at this time. |
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| 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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