Do I get refund of ongoing monthly lease payment on a totaled car

[candy0761]

leased X3 totaled in Dec 2021, insurance company is working with BMWFS on the total loss process while I am still making my monthly lease payment.

Insurance said they would cut a check to BMWFS and BMWFS would refund me the 2 monthly payment after the car accident where I don’t have possession of the car. However, upon calling BMWFS, they simply said they will not refund anything and they are entitled to the monthly payment while the car is still active. Should I get the refund from my insurance then?

ps: the other car is at fault and the driver’s insurance couldn’t cover it so they are using my under-insured. Our insurance is from the same insurance company. Can I ask for reimbursement from the other driver’s insurance claim in this case?

Also saw many people talking about overage. I have a 2021 X3 with 6k mileage leased end of 2020. Lease payoff is ~40k and cash value is 50k. 50k is what insurance company agreed to pay BMWFS - insurance will directly cut a check to BMWFS and BMWFS will not pass along anything to me, just FYI:(

[manku]

The leasing meter keeps running until the payment/ownership transfers, just like if you sold it.

[syedhasan]

Depends on the lender. Some of them refund from the date the insurance notified them of total loss.

Double check with your lender (bmwfs) could be different from state to state too. Since insurance works different

[candy0761]

thanks guys!
the other car is at fault and the driver’s insurance couldn’t cover it so they are using my under-insured. Our insurance is from the same insurance company. Can I ask for reimbursement from the other driver’s insurance claim in this case?

[ilike2breakthngs]

Wait till your total loss is settled with your leasing company.

I had Honda Financial Services and they stopped my payments effective the date of the total loss. I did have to notify them about the total loss and they put my account on hold.

I also received a check from my insurance (other party was underinsured) for the equity since HFS only charged the buyout amount vs market value.

YMMV.

[syedhasan]

Was this recently or pre-covid ?

NMAC treated total loss in a funny way. My payoff was $33k. Allstate valued the car at $42k. Infiniti asked for $37k. Allstate sent me the rest. Dec 2021

This was not at fault accident

[ilike2breakthngs]

August ‘21 … right around when HFS stopped third party buyouts, but I believe total loss was immune to that. StateFarm even paid for taxes & registration fees to make me “whole”