//Edit Pics moved to top. 4 edits for spelling
//EDIT Added one more pic to show dented wheel
The other car:
I am in Norcal, and my 2019 BMW i3 in what I consider to be close to an unicorn deal was T boned by a driver running a red in an Infiniti G35 at about 70 mph in a 35. Details are just so people can understand crash speed and impact.
- I know nobody can provide an estimate with pictures, but since I either have to start shopping to close a deal this month before I get even more screwed by prices rising next month I thought I would turn to my hackers to see how they would start preparing if you were me. Tow truck driver was like bro this car is done no way can it be fixed.
Imagine my surprise when Geico came in person to see the vehicle and quoted $7k repair. BMW said because the car is not currently operable they considered it totalled. I have provided BMWFS number to my adjuster who only accepted it after significant pushback and did not want them involved. I insisted so I’m not left holding the bag for any claim of improper repair or residual decline. The lease is scheduled to go back in 11 months and my understanding is repairs are warrantied in CA for a year which means the body shop, who I was referred to by my dealer, will be on the hook for an improper repair claim.
The shop has said they can’t give me an estimate until they do a tear down, but the guy did finally tell me that if he really had to guess he would say $14-17k assuming absolutely nothing else is wrong with the car upon teardown inspection.
Considering the wheel is like slanted into the car, if I was BMW, I would not take it back.
- I am not going to let it happen without a huge fight, but assume it’s a total loss and I lose the comparable value battle, if Geico cuts a check for either the residual, or below the residual, the GAP insurance from BMWFS would or would not cover the 11 remaining monthly payments ? Is GAP insurance for the full value of settling a total loss claim, or is it only for the buyout amount ? This one is very confusing to me, at first I thought it was for the full amount but I have been recently told it is only for the residual. If you are guessing that’s okay but please make it clear that you are not certain.
3 . Needless to say I am currently going through my insurance. Can somebody confirm that my insurance company cannot settle the claim directly with BMW Financial Services? If they could, is there something I could proactively do now to eliminate this possibility? Assuming an overage is there, does one think you could conditionally accept the settlement and make it contingent on paying out the full amount owed to BMW financial services and directing the overage amount to be paid out to myself in writing?
If it does become totalled I know it will not be possible to come close to an I3 w/ range extender, adaptive cruise, HK premium sound, navi, etc., and BMW lease wear and tear package all for $227 per month with tax. I also have a very good argument for defending my value claim in addition to the less than 7k miles on the car, but my question is who is entitled to the overage ?
There is another thread on here going on where they actually specifically cite the guy with an I3 who netted about 10K when his car was totaled, and in that thread it is specifically mentioned that Allstate or someone similar basically sent the entire amount to BMW who has decided to keep the overage and they know that they need to update the verbiage in their contract in the future. So with two BMW data points about the overage and two different ways they played out on this forum I’m left confused.
- I am an idiot and after negotiating a great deal, gave into hunger, and let the dealer bend me over for a lease protection plan at $1850, adding $60 a month to my $170 a month w/ tax lease. I have had the car for 18 months, but have only done 6600 miles.
Would it be safe to assume I am entitled to a refund of (12/30) * $1850 ?
Do you think the argument of (23000 / 30000 ) * 1850 is either possible of working? Do you have any personal thoughts on the idea? I’m genuinely curious as to if anyone else would try this, obviously I don’t think it will work, but I do consider it possible. I liken it to a balloon payment. When they say no, I could offer to settle for the average of the two ratios. I would consider that fundamentally fair, so let’s see what happens. It makes sense to me why they would only consider the time and I understand why arguing fairness cuts both ways.
Also, if anyone has a comparable number either they or a friend have paid for a lease protection for an I3 with BMW I would appreciate it as I don’t want to leave them a bad review unless it is genuinely warranted.
I am sorry for the very long thread, but I felt it would be less annoying to put all my questions into one thread rather than upset people having to scroll through multiple topics. I truly appreciate the time you spent reading this and crafting a response to any of my questions. I don’t expect one person to answer everything, and am grateful for any input.