My car get totaled. Do i get downpay back

Hi. I leased a loaner car 3 months ago. Msrp 52000. Sell price 48000. Down paid 5000. Now it is get flooded. And totaled. Do i get down pay back? My insurance cover the damage. I won’t loose any money right?

What does your contract say for how insurance overages are handled? Different brands handle overages differently. What’s the current payout from bmw compared to the insurance payout?

Yes, you very well may never see that $5k again.

This is the reason why we roll every single thing into the monthly, saves you the hassle of all this.


Sign and drive all day, sign and drive


Sorry for your 5k loss




Thank you for your reply. Dont get estimate from insurance yet. If They pay 48000. It may covers what i own dealer.

RIP to your $5k.


Normally, the Down Payment will not be returned.

Insurance will also pay the title holder not the lessee (you). So check your contract to see if there are any clauses that account for the excess equity in a case of a total loss due to your down payment & how the company will handle it.

Good Luck.


You won’t owe anything if the amount insurance payout isn’t enough to cover your bmw payoff, as your lease has gap coverage. You just may not get anything you already paid back.

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Thank you. Will find out soon. Hopefully i can get some back. Hah

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Thank you. Will do.

Assuming his lease has GAP insurance. I have no idea about BMW. Toyota does not unless you pay it separately although with a 5K downpayment I doubt he will be underwater

This is why I only pay the taxes upfront, with my insurance and in my state I was told many years ago I would get the unused portion of the taxes back. No idea if the rules changed but that is what I go by.

I was driving last week during the flooding with a car that was less than a month old and impossible to replace now. This scenario was going through my mind as it waded through. I am sorry this happened to you


BMW does… pretty much everyone does except Toyota


And possibly certain credit unions and banks?

My credit union does but they still made us sign the GAP waiver when we picked up the car. Was not worried either way as we have equity in the car due to a lease trade

Yah, there are some other corner cases out there in credit union world, but as far as main stream banks, it’s pretty much only TFS (so most toyotas and mazdas).

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Possibly, though IIRC the CU programs from @RVguy do include GAP

I never understood people. It makes the person look dumb - so many people “but I wanted a lower monthly payment”. LOL.

Take the $5K down and put it into a separate bank account. Yes your payment is now about $150 more a month (if you put 5K down), and take the $150 out of that account every month. IT IS THE SAME THING.

You and everyone else who put money down just lost it all.


Sometimes people just want to feel “assured” or it makes them feel more “secure” by having a lower monthly payment.

Not promoting down payments just saying no need to put down someone while they’re down.

Maybe they’ll learn & won’t do it anymore.


I didn’t mean to hurt anyone’s feelings. Losing $5K is far worse than my comment. It makes zero sense to do. I even have people - family and friends that try to explain doing it and don’t understand what I said above. It is mind boggling to me.