09-25-2011, 01:10 AM #1
Explain how leasing works, in my situation.
Ok my car was leased. It got into an accident last year and was repaired by the other guys insurance company (his fault). Car is now worth less due to this, is my buy off amount going to be reduced? Or will it still remain the same buy off amount that was agreed upon during the lease contract signing?
If the car is worth 22k at the end of the lease term due to all the repairs, vs. the quoted 30k or whatever was on the end of lease contract. Can I buy out the car for the 22k as current value?
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09-26-2011, 12:25 AM #2
Why would you want to buy it out?
As long as you return the car in decent condition ( not damaged ), you shouldn't be charged any damages.
09-26-2011, 12:30 AM #3
09-26-2011, 12:33 AM #4Member
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I bought my lease and I had an accident as well. You will still have to pay your buy off amount, it will not be reduced.
10-03-2011, 05:44 AM #5