My friend totaled his CL-S. Some ediot run into his ass, and he lost controll and hit concrete bus stop. He asked me to ask you people this question. He leases his car for 48 months. He has 12000 miles a year contaract.

What is going to happen next? What will insurance do? He has 20000 miles already the car is 8 months old. It is not his fault. Police said that it was other dudes fault. Please help. What will dealer do etc.

Thanks

 

Although he already put so many miles on the car his contract was for 2 years. He owuld need to speak to his insurance to find out what will happen.

 

he's not at fault

just have the insurance compnay advise you on what to do

plus, have him goto the doctor a bunch of times for headaches and neck pains so that he will at least get a few grand outta it in doctor visits

 

Will he loose any money? Will he be able to get in to another CL-S or TL-S.

DId anyone had this situation?

Thanks

 

depends on if he got gap insurance on the car (i think through the leaser or finance co.)

because insurance will only pay the value of the car if it's totaled, the amount the insurance company pays may be less than what he owes (interest/tags/difference in actual vs. estimated depreciation/etc.). i think this applies whether it's his insurance ocmpany that pays (under collision) or the other party's (because it wasn't his fault).

the gap insurance would make up the difference so he wouldn't lose any money out of pocket (ie owe the difference between what he was supposed to pay for the car and the amount the insurance company pays).

it didn't happen to me, but i knew a lady that just HAD to have a new car, so she bought a brand new hyundai accent with a ridiculous interest rate (because her credit was bad) financed over 5-10 years. she had full coverage through her insurance, but didn't get the gap insurance through the finance company. some old lady going the other way took a left in front of her and her car was totalled. the old lady's insurance company paid the value of the car, but the lady with the totalled new hyundai still owed her finance company close to $10k for the interest over like 5 or 10 years (i don't remember the exact details). and on top of owing her finance company, she doesn't have a car to drive.

 

Damn that sucks

 

So FUCK the MOTHERFUCKIN LEASE!!!!!!

Fuck I hate this You fuckin tight from averywhere.

 

Time to go home to mommy kid..

 

Aru u russian?

 

if the lease is through american honda finance, it automatically comes with gap coverage.

neither automobile insurance nor gap coverage is designed to offset interest charges. auto insurance (full coverage) covers up to the fair market value of the car at the time of the accident. gap coverage takes car of the difference between outstanding loan balance (principal only) and the fmv of the car. interest never figures into this.

however, if she got totaled early in her finance contract, the insurance will pay for the fmv of the car (off the lot, about 80% of sticker) and if she'd taken the gap coverage, it'd cover the remaining 20%. she's responsible for the remaining 20% if no gap coverage and any accrued interest at that point. once the money is no longer being borrowed, the interest stops accruing, so she wouldn't owe the remaining interest in the contract. there the possibility of an early repayment penalty, but this generally amounts to a couple hundred bucks at most, so it isn't like it is a major hardship. finally, for cash she put down, if it's less than the difference between the fmv at the time of the accident and the remaining loan balance, the money is lost. (gap coverage doesn't replace your down payment.)

 

I used to sell insurance and I'll tell you...the insurance company will only pay market value of your vehicle...minus the extra mileage you have on it. You will be out all the interest you owe on the vehicle....so, the only way to offset your loss is to sue for your pain and suffering....time to go see the doctor.

 

This is the month CLs get toasted... what's going on? Three were destroyed in the past two weeks.

 

I also saw a Silver CL-S smashed up against a guardrail on RT-95 near Baltimore, MD yesterday.
The front & back were crunched in pretty good.

I hope it wasn’t anyone here.

Shawn S

 

The Ladies Man would like to ask that you no longer call into the show with that type of question.

 

this is the closest I've ever seen anyone come to a written conniption...

 

 

He needs his mommy..

 

I saw two silver CLS and a white one day. None in accidents though, thankfully.

 

This is getting onto I-95 in the morning.

http://www.wam.umd.edu/~jinman/onto95.avi

I had a sweet-ass entrance yesterday but I didn't have my camera with me. Oh well.

(I'm usually quite a civil driver.... really.)

 

you should call the ins co, i know if you owe money like on a purchase, and you owe more than its worth, your going to loose out, but maybe on a lease becuase you contract is only for the value at the end of the lease from what the agree'd sale/lease price, you might be ok, the car i would think with the year and milage should still be worth more than the final lease agreement figures