Got in a crash - how will lease pan out?

Ask the Hackrs Insurance
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1

I’m assuming I won’t get my down payment back. What else can I expect?

2

wHaT DoEs YoUr LeAsE CoNtRacT SaY?!

2 Likes
3

Is it totaled?

4

Yes. Chevy.

5

In what mystery state? Which bank?

6

I got it in so cal thru chevy financialHere on hackr!

7

Fixed tags. Unless something has changed

8

i dont anticipate having equity. Do i lose my downpayment?

9

Yes you do

10

Your lease is X months in duration.

Every month, beginning on the day you drove the car home, you’ve gotten 1/X of your upfront money back – plus what you saved in finance charges.

So on a 24-month lease, for example, totaling your car in the 20th month means you’ve recouped more than 83% of what you would have otherwise paid on a $0 DAS deal.

11

There’s no mechanism to “get a down payment back.”

You might receive some money back depending on what the insurance payout is and what the remaining balance is.

So what are those two numbers?

2 Likes
12

Why most people say do not put a down payment cause of this reason.

I hope your down payment is basically DAS.

1 Like
13

It was. Thanks.

14

Curious. What was the mystery can, down payment, months left and lease terms?
But yeah, check your contract

15

Yeah consider that gone.