02-10-2015, 01:08 PM | #45 | |
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OP, personally, I'm going to assume it's going to be totaled. Costs add up fast. hidden damages appear faster. These cars are expensive but it really matters on the miles/vehicle you specifically have for the worth. By the way, after reading this whole thread, I'm serious regretting almost paying off my lease through the down payment.
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02-10-2015, 01:16 PM | #46 |
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Even in the USA there are insurance endorsements you can purchase for brand new cars to protect against the loss of depreciation.
If you buy a 50k car and you get this endorsement; say 6 months after purchase the car is stolen well the insurance company is going to replace the car for you. It doesn't matter at all what your down payment was and what your monthly payments are. Insurance covers the car not your payments. |
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02-10-2015, 03:07 PM | #47 | |
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02-10-2015, 03:08 PM | #48 |
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My 6 month old 335i was rear ended in early December. They went back and forth on if it is a total or not and finally totalled it about 2 weeks ago. Should hopefully be in my new car on Thursday. I hope your experience is much easier than mine was.
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02-10-2015, 03:08 PM | #49 | |
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02-10-2015, 04:04 PM | #50 |
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I would hesitate to be that matter of fact based on some very basic photos. I would want to see under the hood and get a peek at the front frame rails before I took a hard guess either way.
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02-10-2015, 04:24 PM | #51 |
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I'm confident. The photos are crap, but good enough to see that the impact was high, i.e. above the bumper. Damage to the header panel, hood, and fenders is not high dollar. Frame rails should be fine. If it ends up totaled, it'll be because the adjuster has a shop in his pocket ready to buy/fix/flip it with him.
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02-11-2015, 11:18 AM | #52 | |
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Ok then. You realize the frame rails are attached to the radiator support, and a hard enough impact to that can lift (up sag), and pull in (sway) the rails at the front? Not to mention if the support is ripped off the rails at the welds. Been doing this a long time, and I would never make a call either way based on all that we can see in the photos.
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02-11-2015, 03:23 PM | #53 |
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Pics are huge and zoomed in way too much; Any better shots of damage?
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02-13-2015, 06:39 PM | #54 |
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I'm gonna try to get better pictures when i go and empty my belongings from the car.
However I just got word from the insurance yesterday and in fact the car will be considered a TOTAL LOSS. The insurance is gonna cover the remainder of the lease and the value of the car. Also I will be getting part of my downpayment back. About 5000$, i'm gonna lose about 2900$, so thats great news. Also the insurance sends me a check of a certain amount for whatever other car I get, that check will be used as a downpayment. I spoke to my sales man and he's gonna take care of the lease cancelation and also working on getting me a good deal on a 2014 BMW 335XI or a 328XI Sport Line fully loaded. Depending on what they have and the cost. In the end the insurance will go up but it could have been a lot worse. So i'm quite happy. I really appreciate everybody's advice and comments. |
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02-13-2015, 07:19 PM | #55 |
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Insurance will go up quite a bit and you end up paying for it in the long term. Sucks but it is what it is. No need to look back but move forward and enjoy your new / better car.
Lessons learned, never put a down on a lease. You got extra cash lying around, put it in a investment instead. |
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02-13-2015, 07:35 PM | #56 | |
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An I was your 1st Appreciation The weather has been bad down here in VT, so I can only think further north. |
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02-14-2015, 07:12 AM | #57 |
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Sould have read all posts.
That being said your payments are HIGH! 660$ for a 320 with 10K cash? You are sure it's cash down because I pay 700$ with 0 cash.
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02-15-2015, 09:55 AM | #58 | |
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"I apologize for causing a lot of confusion. That was my mistake sorry. After 10k down the monthly payment is $465 monthly." |
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02-15-2015, 10:26 AM | #59 | |
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This is one of those fine print issues that usually gets overlooked in the original transaction, and by the time you find out that you're under-insured it's too late. Be it a lease or a purchase you have to make sure that your insurance will at least cover the outstanding balance. I was given that option by my insurance company when I insured my new GT a month ago, via what's now referred to doughnut hole coverage. You know that it's a common issue when they have a nickname for it. I didn't need it, as I'd put 1/2 down, so I had mucho equity from day one. Last edited by Billfitz; 02-15-2015 at 10:39 AM.. |
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02-15-2015, 10:41 AM | #60 | |
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Ha, makes more sense.
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02-15-2015, 03:33 PM | #61 |
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still insane! i bet that dealer is so happy now he can bend you over for your next one!
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