Leased Vehicle in Car Accident

[msmching]

Wondering if there's people with similar situation that I am going through.

I leased the car back in 2018 for three years. More than $5k damages
Had my first car accident in 2019.
- Rear Bumper replaced
- Quarter Panel repaired and refinished
- One wheel replaced and alignments.

Again, had the car accident after a month i got my car back. More than $10k damages.
- Rear Bumper Replaced
- Quarter panel repair and refinish
- Possibly Rear Body Panel damages (because i have yet to see the final estimate yet)

Not even a year and twice already. And still stuck with this for two more years. (Guess there's no way for me to get out of the lease and get another car unless i am rich enough)
Both of which, I am not at fault. Side swiped in the first one and Rear Ended on the next. I was really planning to keep the car at the end but not, after the 1st accident.
What happens when you return the car at the end of 3 years? Car back to the dealer and done? Do BMWNA/Dealer charge for depreciation or any fees?

[N1rve]

Originally Posted by msmching

Wondering if there's people with similar situation that I am going through.

I leased the car back in 2018 for three years. More than $5k damages
Had my first car accident in 2019.
- Rear Bumper replaced
- Quarter Panel repaired and refinished
- One wheel replaced and alignments.

Again, had the car accident after a month i got my car back. More than $10k damages.
- Rear Bumper Replaced
- Quarter panel repair and refinish
- Possibly Rear Body Panel damages (because i have yet to see the final estimate yet)

Not even a year and twice already. And still stuck with this for two more years. (Guess there's no way for me to get out of the lease and get another car unless i am rich enough)
Both of which, I am not at fault. Side swiped in the first one and Rear Ended on the next. I was really planning to keep the car at the end but not, after the 1st accident.
What happens when you return the car at the end of 3 years? Car back to the dealer and done? Do BMWNA/Dealer charge for depreciation or any fees?

No, as long as the car comes back clean and undamaged (assuming you didn't buy excess wear and tear coverage), you can just walk away.

[uniqueMR]

Sorry to hear about your incidents.
Hmmm you can try: swapalease.com

[RickFLM4]

Be happy you leased instead of buying. As long as car is fixed properly, you just drop it off at the end of the lease as noted above.

[brocurls]

Dayum bruh......that's quite the shitty luck. Great thing you leased it and can just wipe your hands of it at lease turn-in once all fixed up.

Too many ppl mesmerized by the exhaust sounds like a siren to desperate seamen.

[icegrill]

Originally Posted by brocurls

Dayum bruh......that's quite the shitty luck. Great thing you leased it and can just wipe your hands of it at lease turn-in once all fixed up.

Too many ppl mesmerized by the exhaust sounds like a siren to desperate seamen.

😂

[soulcrft]

Originally Posted by RickFLM4

Be happy you leased instead of buying. As long as car is fixed properly, you just drop it off at the end of the lease as noted above.

Yes, be glad. I ran over a stupid rock that damaged the underside of my leased 428 GC and it was like $8k in damages. Car got repaired and ran perfect.

When I returned it they asked me about the incident and I explained what happened. That was it. Walked away. Then I got my $250 from BMW for being under milage.

The car needs to be like it never had an accident when you return it. Also, make sure they use new BMW parts. Not refurbished or third party. At least that's what they explained to me.

[sjuhawks19]

I had $12k in damage from a stupid deer, I'm just turning it in at the end of the lease. I also thought of keeping mine until the accident. It's suck because my lease is up in December and the new M3s won't be on sale at that point, and there are hardly any new F80s out there now, they will certainly all be gone at that point.

[autocompanion]

Just on a side note. If someone hit your vehicle you or whomever the owner is entitled to diminution of value. Lease you are not the owner this not entitled to collect. What I know for a fact is that when your turn in your lease for Porsche they have a dedicated department to seek diminution of value from party at fault’s insurance.

[msmching]

Made sure with the body shop that all parts will be from OEM only before I dropped off the car.

Two more days, it'll be 1 month. Right now it's stuck at the process that the insurance has to come check and approve the car for additional inner damages

Paying for $1k on the lease payment, and yet, I didn't even drive for a month. Do they pay for that too lol?

Originally Posted by Railgun

Depends on whose fault it was.

don't point it back at me. . Both time, the other parties' insurance admit fault right away.

I don't think i will post if it's my fault lol.

[Maitre_Absolut]

Originally Posted by msmching

Made sure with the body shop that all parts will be from OEM only before I dropped off the car.

Two more days, it'll be 1 month. Right now it's stuck at the process that the insurance has to come check and approve the car for additional inner damages

Paying for $1k on the lease payment, and yet, I didn't even drive for a month. Do they pay for that too lol?

Like everyone said you are lucky you are leasing, you shouldnt be looking to get out of it. Its protecting you from the eventual reduced resale because of the accident.

Your insurance company likely paid for a rental car so your 1k is not out the window.

[Eurosonly]

Lease saved your ass here haha

[clutchdj]

If you want out you might be able to get out without taking a loss because of the inflation. Your market may vary. Proba have to speak with your bmw finance guy.

[doug_999]

Check your lease documents. I "think" you need to notify BMW FS.

And I hate to say it, you should start looking for new insurance. Insurance companies understand when someone else is at fault - but when it happens multiple times, they start to assume you might be the problem. Don't kill the messenger here.

[2011ninja]

Originally Posted by Eurosonly

Lease saved your ass here haha

How

If he financed not lease

Less trouble to get rid of or keep car

[RickFLM4]

Originally Posted by 2011ninja

How

If he financed not lease

Less trouble to get rid of or keep car

How? No difference in getting rid of the car early - worth the same either way. Lease also let’s him wait it out and then drop it off at no loss.

[2011ninja]

Originally Posted by RickFLM4

How? No difference in getting rid of the car early - worth the same either way. Lease also let’s him wait it out and then drop it off at no loss.

If you finance you don't have to wait it out…

I know leasing has upside

I keep my cars past 3 years and I drive a lot and will modify occasionally

[RickFLM4]

Originally Posted by 2011ninja

If you finance you don't have to wait it out…

I know leasing has upside

I keep my cars past 3 years and I drive a lot and will modify occasionally

You don’t have to wait it out with a lease either. Can sell the car just like it was financed. Take it to CarMax and you’ll get the same price whether leased or financed.

[Eurosonly]

Originally Posted by RickFLM4

You don’t have to wait it out with a lease either. Can sell the car just like it was financed. Take it to CarMax and you’ll get the same price whether leased or financed.

yup