Tsa1

Skip to the bottom for my questions if you do not feel like reading haha

My LEASED 2009 PWP Base, He hit a trash dumpster that was left on a residential road, it took more than half the street in a poorly lit area. I am not seeking anything from the landscaping company because I'm positive it should not have been there in the first place, not to mention the street light over it was out.

The drive airbag did deploy, I believe he was going 35-40mph. The first body shop estimate was around $8700 (new bumper/hood/radiator/supports/airbag/headlight etc.) But it was not until they began work on it that there was more damage (frame/motor) which im sure raised the estimate.

I received a call from the shop today that the insurance adjuster or whatever, Stopped by to have a looksi at the car and that they wanted to declare it a total loss. He recommended against it (Im sure because its good work for the shop) and that I needed to call the insurance and tell them I want them to fix it. He said the insurance was not going to pay for what we owe on the car (around $23100). I then told him I was positive ACURA provided free GAP insurance with their leases and they would cover the rest.

Now my questions. Do/Did I have to notify AFS about the accident when it happpened (one week ago).
Also the car has 21500 miles out of 36k, my 24th month of the lease is in june of this year, meaning im about 2000 miles over for this year. Would Acura want to charge me for those miles?
Lastly, Have you guys had a similar experience with your leased Acura?

Thank You very much!

09TSXTech

Yes, you should report the accident to AFS ASAP.

This is from the AFS Lease FAQ site:

http://www.acurafinancialservices.co...ease_faqs.aspx

What happens if my vehicle is stolen or "totaled" in an accident?
In these cases, your lease may be terminated early. Please contact Client Services as soon as possible to notify us and discuss the next steps. But rest assured — all Acura leases include (Guaranteed Asset Protection) to protect you against unnecessary expenses.

Tsa1

thanks!

Arcticcl9

wow, I didn't know leases include gap, good to know...time for a new car for you!

StonedCL

iTrader: (1)

All Leases HAVE gap cuz the bank owns the car , so Gap is automatically calculated into EVERY lease.. Its the banks A$$ and they will protect it!

kristy7911

I'm not sure how the GAP on leases work, but I can tell you on traditional loans that GAP does NOT always pay the entire deficiency balance (I work in the insurance services dept at a credit union, we deal with total losses and GAP). One big thing is that if the finance company (I imagine lease companies too) thinks that the insurance company didn't pay enough, that they are not going to pay the difference between what the insurance company did pay and what they think they should have paid. Also, service contracts (because you can usually get at least a partial refund), late fees, missing payments, stuff like that.

HeavyDuty

Yup, a friend (DeansBlackCL-S) from this site had his 0...6(?) TL totalled out and he owed an a$$load more than it was worth due to mega negative equity from his 03 CL-S.

He ended up eating $1000 even having Guaranteed Asset Protection through the finance office at his Acura dealer.

It was a better alternative than getting back a patched up TL.

In order to get it totalled, he had to threaten to come after his insurer for depreciated value of his car *after* the "repair."

Yes, his carrier tried to tell him there was no such thing as depreciated value compensation in FLA and yes, they were FOS.

Of course the body shop wants you to tell your carrier you want it fixed, it's how they eat.

Like Tech said, call AFS and *do not* sign an authorization for repairs regardless of what the collision center tells you.

Tsa1

I called AFS and they said that we didnt have to do anything. Not until our insurance contacts them directly.

Luckily I did not have negative equity going into this lease, We owe about 23k, and since the car does not have excessive mileage on it I dont see the insurance trying to pull a fast one with that. I Edmunds TMV'd the car and it said around 20k for a "clean" condition trade, 22k for a private party sale and 24k dealer retail.

Will keep you posted guys! Thanks again!

kristy7911

I'm not sure where you are located, but in California, most ins co's don't use kbb or nada, they use independent companies to determine fair market value (they find similar vehicles with similar mileage and options in your area and take the average). This can make a big difference, depending on what the TSX is actually selling for in your area. I am not trying to knock GAP, because even if it doesn't pay everything off, it usually pays most of it.

Tsa1

So there is 17k worth of damage to the car.

Now the insurance does not want to total the car. The reason its going to cost so much is because they have to take the engine and tranny out to replace a part!

The car is only worth around 20k trade in, I figured that would be enough for the insurance company to want to total it.

patcracks

got any pics??

HeavyDuty

Usually, if the initial repair estimate reaches 40% of the value of the car, they total it.

The initial estimate is just that, an estimate. Additional monies usually will be requested during the repair process that can't be seen on the initial inspection. Even if that figure averages 10%, that's another $1,700 in this example.

Who's your carrier?

Tsa1

Yeah I spoke to the Body Shop today and they said the insurance approved the work!

My carrier is Explorer! I should have gone with Mercury or AAA! Should I call my adjuster and tell them I'm not comfortable with the car being fixed after $17k worth of damage?

What should I do? Obviously the Body Shop won't help, thats their loss if the insurance totals it.

kristy7911

It wouldn't hurt to call your insurance company, maybe ask to speak to a supervisor. That is a lot of $$ for repairs, I would be concerned too.

Itchytoe

I'd push for it to be totaled. With that much in initial repair costs, the car will never be the same, and I wouldn't feel safe driving in it. IIRC you still have to authorize the work for them to be able to do it, so I wouldn't give them authorization. You can likely get it totaled on the basis that it will never be safe after that much damage. Your insurance can't force you to drive a vehicle that isn't safe. You may be able to find a shop that will agree with you that it won't be safe after repairs that extensive. Since the insurance has to have it repaired at the shop of your choice, require that it be repaired there. If they refuse to repair it based on safety concerns, the insurance has to total it. You'll piss off that carrier, and will probably have to find a different carrier for your next vehicle, but you can get this one totaled.

Tsa1

Good News! I got a call from the adjuster today and she said that it was going to be totaled as it was over 80% damage.

One more question about the GAP insurance. As per this link http://www.acurafinancialservices.co...s.aspx?src=inq

It says that GAP insurance will cover my deductible, but IIRC the Acura rep or the Body Shop said I would still have to pay the deductible. Thoughts?

kristy7911

There are a lot of GAP companies that do cover the deductible. On a total loss, your insurance company will take the settlement amount, and deduct your deductible from that amount, and thats what they will cut the check for. Most GAP companies (like you said yours does), when determining how much to pay, will include the amount deducted for the deductible. Does that make sense?

LuvMyTSX

Wow, the car must be mangled up pretty good, huh? No pics?

Tsa1

Actually the car is not that mangled, it looks as if there was 4-5k in damages. It still drives and stuff it just over heats because of the radiator lol

My GAP insurance is whatever Acura provides with their leases since I leased through honda/acura financial.

HeavyDuty

Whew! Dodged that bullet, didn't ya? Congrats, that would have been a cluster by the time it was over if they went forward with the repairs.

Tsa1

Yeah I did! Luckily I Still have my 02 RSX Type-S so I have not left the Acura family yet, Although unless honda comes through with some sort of performance model, Im done with them.

TSX131

pictures or it didn't happen , hahaha

Farage

Tsa1

i'll try to get some pics, but I'm not sure if insurance picked it up from the shop.