2014 BMW 320XI Front Collision.

Halsifer · 02-10-2015, 01:08 PM

Quote:

Originally Posted by BavarianFanatic

No way that's totaled. Absolutley no chance.

And, yeah, never put money down on a lease. It goes against every single rationalization why you'd lease in the first place. And it's a huge risk.

Are you saying there is 'No way that it is totaled'? Or 'No way, that's totaled'?

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.

mastereh · 02-10-2015, 01:16 PM

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.

BavarianFanatic · 02-10-2015, 03:07 PM

Quote:

Originally Posted by mastereh

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.

Gap insurance.

AG BMW · 02-10-2015, 03:08 PM

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.

BavarianFanatic · 02-10-2015, 03:08 PM

Quote:

Originally Posted by Halsifer

Are you saying there is 'No way that it is totaled'? Or 'No way, that's totaled'?

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.

No way it is totaled. You missed my second sentence "Not a chance."

Thumper333 · 02-10-2015, 04:04 PM

Quote:

Originally Posted by BavarianFanatic

No way it is totaled. You missed my second sentence "Not a chance."

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.

BavarianFanatic · 02-10-2015, 04:24 PM

Quote:

Originally Posted by Thumper333

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.

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.

Thumper333 · 02-11-2015, 11:18 AM

Quote:

Originally Posted by BavarianFanatic

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.

LMAO

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.

greekcs · 02-11-2015, 03:23 PM

Pics are huge and zoomed in way too much; Any better shots of damage?

DK320XI · 02-13-2015, 06:39 PM

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.

overkill1125 · 02-13-2015, 07:19 PM

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.

DocWeatherington · 02-13-2015, 07:35 PM

Quote:

Originally Posted by DK320XI

I apologize for causing a lot of confusion. That was my mistake sorry. After 10k down the monthly payment is $465 monthly. And as for the car it self the insurance hasn't gotten back to me yet. Hopping for the best.

You should post more.. Your neglecting your family... Sorry for lost, but on the plus side, you have your health and The LCI goes into production in July..

An I was your 1st Appreciation

The weather has been bad down here in VT, so I can only think further north.

Bassthe1st · 02-14-2015, 07:12 AM

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.

DK320XI · 02-15-2015, 09:55 AM

Quote:

Originally Posted by Bassthe1st

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.

Hey, if you didn't read this post i posted later on.
"I apologize for causing a lot of confusion. That was my mistake sorry. After 10k down the monthly payment is $465 monthly."

Billfitz · 02-15-2015, 10:26 AM

Quote:

Originally Posted by Thumper333

I would recommend the OP start reading the lease contract and insurance policy and get some answers there.

+1. Typically what happens is that the lease end value is recalculated as if the lease were being terminated early, because it is. Then you have to hope that the insurance settlement is at least that amount. If not you could be held responsible for the difference, just as you would be held responsible for the difference between what you owe and what you get for an insurance settlement on a purchase loan. OTOH if your coverage is for more than the current LEV then the insurance pays the LEV and you get whatever is left over.
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.

Bassthe1st · 02-15-2015, 10:41 AM

Quote:

Originally Posted by DK320XI

Hey, if you didn't read this post i posted later on.
"I apologize for causing a lot of confusion. That was my mistake sorry. After 10k down the monthly payment is $465 monthly."

Ha, makes more sense.

jd_perspective · 02-15-2015, 03:33 PM

Quote:

Originally Posted by DK320XI

Hey, if you didn't read this post i posted later on.
"I apologize for causing a lot of confusion. That was my mistake sorry. After 10k down the monthly payment is $465 monthly."

still insane! i bet that dealer is so happy now he can bend you over for your next one!

xlover · 02-15-2015, 04:03 PM

Don't bmw fs leases have gap insurance built in?

02-10-2015, 01:16 PM	#46
mastereh Private First Class 46 Rep 126 Posts Drives: 2014 BMW 328 xDrive Sport Line Join Date: Jul 2012 Location: GTA iTrader: (0)	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.
	Appreciate 0 Quote

02-10-2015, 03:08 PM	#48
AG BMW Registered 0 Rep 4 Posts Drives: 335i Join Date: Apr 2014 Location: Houston iTrader: (0)	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.
	Appreciate 0 Quote

02-11-2015, 03:23 PM	#53
greekcs Major 773 Rep 1,113 Posts Drives: 2020 M340i xDrive Join Date: Jan 2010 Location: Long Island, NY iTrader: (0)	Pics are huge and zoomed in way too much; Any better shots of damage? __________________ 2003 11/02 Steel Gray Metallic on Red M3 - SMGII - VF570 - SUPERSPRINT - KW - BBS - CSL ROOF SOLD 2015 09/14 Alpine White on Red 435i xDrive MPPK - Expensive black vinyl with special lettering. SOLD 2020 12/19 Mineral Gray Metallic on Black Vinyl interior M340i xDrive
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02-13-2015, 06:39 PM	#54
DK320XI New Member 5 Rep 7 Posts Drives: 2014 BMW 320XI White Join Date: Mar 2014 Location: Montreal Qc iTrader: (0)	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.
	Appreciate 0 Quote

02-13-2015, 07:19 PM	#55
overkill1125 Major 130 Rep 1,028 Posts Drives: 2019 440xi Gran Coupe Join Date: Jan 2010 Location: Montreal, Canada iTrader: (4) Garage List 2019 440xi Gran Coupe [0.00]	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.
	Appreciate 0 Quote

02-14-2015, 07:12 AM	#57
Bassthe1st Private First Class 22 Rep 160 Posts Drives: 2017 330i xDrive M Sport Join Date: Jan 2014 Location: Montreal, Qc iTrader: (0)	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. __________________ Current: 2017 330i xDrive M Sport Past: 2013 328i xDrive, 2008 335XI 6MT, Legacy SPEC.B, MazdaSpeed6(best of all)
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02-15-2015, 04:03 PM	#62
xlover Colonel 2191 Rep 2,557 Posts Drives: 2023 X7 40i Join Date: Aug 2011 Location: Boston iTrader: (0)	Don't bmw fs leases have gap insurance built in?
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