Quote:
Originally Posted by mikeyymonster
Do you lose money in a situation like this? Presumably, if it's totaled, their insurance would pay you the FMV of the car correct? Which is likely to be less than what you paid for even at only 2 weeks of ownership? Just curious, glad everything is okay!
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Not at all. I actually almost made 8k off the accident just from the value of the car. Not sure about everyone else but when I got my car and have leased two with my wife they automatically have taken 3k off the top. Then I had $4500 or so in dealer incentives. I only put down my first months payment. So the payoff for bmw was about 47k and the car was still worth almost 55k so once bmw was paid off I got the rest of the cash.