We have a ALLY lease on a 2020 STELVIO TI SPORT AWD. We have a AUTONATION offer of $41k and some change. The dealer buyout is 37 and change. My wife was just sideswiped by a GOODWILL trucker. About 4K worth of damage. I am going to dump the car for another lease before Carfax goes bad. Has anyone successfully received a depreciation claim on a lease you have equity in?? Once carfax shows an accident I will no longer have the equity…
Any input? In the market for a lease on a nice SUV 400-500 monthly with 3-5k down. by the way!
It’ll still have to be repaired before you sell it. It doesn’t matter that it hasn’t hit carfax, you’ll have to disclose that it was in an accident. It is one of the questions you have to ask, if you lie and then they find out they can come after you for the difference you got because you falsified the information.
Technically, YOU don’t have equity…the bank does since it’s their car. THEY just give you the option to sell it if you so desire.
There’s no free lunch. The bank took the risk on the car. You got into an accident. They’ll take the hit on the resale value because it’s theirs, not yours. That doesn’t entitle you to diminished value. If anyone, it’s their diminished value claim.