Well I don’t know if I will get flamed for this but…I’m kind of leaning towards a Tesla model 3, same monthly payment I had for my dead car but $0 and I can get it quickly.
Would also mean not having to go through the haggling process with a dealership all over again.
Please feel free to tell me if this is a horrible idea lol.
Finance a used one. Used prices are tanking and new ones aren’t worth the price. No one should ever really lease a tesla either
MMR and dealership/corporate buyers’ bids tanked. IDK if retail prices tanked enough to justify buying used.
Something similar happens to me, but this case i was about to buy the lease out and I owed 33k and the car had a value of 41k. Supra 2021 3.0 premium.
What would happens in this case ?
I will lose the equity on the car ?
I had my lease for 3yrs and 5month.
Any help on this really appreciate it. This happens just 6h ago.
If the car isn’t titled to you, it isn’t yours.
Should there be an overage it goes to the bank that leased it to you in most cases.
Thank you , so is nothing I can do right?
Why in most cases ? It is a case the i can keep the equity o the car ?
I m a mechanic probably I can fix it
Thanks again
If you really like the car and are sure you have that much equity, buy it out ASAP assuming it isn’t totaled.
But if it is totaled, then it’s too late.
Depends on which state and which bank
Ah, the ol set up for insurance fraud trick
Why is that Fraud ?
I mean I pay around 33k in these years and was hoping get some equity back.
I don’t see anything bad in that.
Florida, southeasttoyota
Gonna buy the lease out then make an insurance claim stating that you were the owner at the time of the loss so you get the money?
The fraud comes when you insure a vehicle that was already totaled, neglect to inform the insurance at that time, then try to make an insurance claim for damage to a vehicle that happened before you owned it.
One of the worst finance companies to deal with. The car was never your’s to begin with as it was leased, not financed. The bank is the owner of the car and your had been renting it for ur 3 years and 5 months and $33k in rental payments.
I understand what you’re referring to but that’s not what I’m suggesting. You’re thinking of a circumstance wherein the car IS totaled but just hasn’t hit the insurance or captive banks inbox.
I’m suggesting if the car isn’t totaled and can be fixed. And if even with diminished value if there’s confidence there’s equity than buy it out to prevent losing equity as ago forward.
So why buy it out asap?
If it was underwater and got totaled you wouldn’t want to write a check for the negative equity, would you?
Can’t have it both ways.
I guess I could have said sooner rather than later. 
Really helpful all the comments, unfortunately I will have to let it go.
Thank you