How does an accident affect the ability to do a lease swap. I have a bmw that I might want a swap but it has an accident.
Shouldn’t make a difference on the BMW end, but if I was the one trying to swap in, it’s definitely a question I’d ask about and I’d be far less interested in taking over a lease with an accident.
Less interested due to less value at the end of the lease or another reason.
Yup. Basically, whatever you normally would have gotten from the transferee, figure you’ll probably have to subsidize that to the tune of a grand to a few grand based on the severity of the accident. Essentially you’ll have to eat some degree of diminished value.
So if you were going to ask for a few grand cash, you’ll have to pare back that expectation. If you were likely only at parity, you may need to throw an incentive at it.
That’s a big part of it. Any positive equity is going to take a hit or even be washed out. Plus there’s the factor of any adverse consequences of the accident, even with repair. There’s always a large chance that the car doesn’t quite drive the same, even if repaired ‘correctly’.
Less interest due to less value. Less interest due to concerns about liability for any damage. Less interest due to not wanting to drive a car that was in an accident and no knowledge of the quality of repairs. Etc
Ok, thanks for the feedback. It was just the bumper that I have to replace. I was able to drive the car an everything but I am barely driving the car and has a TRX and A Rubicon on the way.
Why? At lease end, that’s the leasors problem not leasee.
Sure. As long as you ride it out til end of term then turn it in and weren’t expecting any positive equity between now and then.
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