Nissan total loss immediate purchase to capture equity

Ask the Hackrs
68

Data point, I was in total loss last month and insurance paid off the lease and then paid me the remaining equity in the car

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69

What vehicle and who was your lease through?

70

Honestly not much of a data point since you didn’t say what Car, what leasing company, and what insurance.

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71

Volvo financial

72

Wasn’t saying applies to nissan as well, just something to be considered

73

And what state.

74

Was in New York

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76

You know this contradicts your previous posts in this thread?

Unless you wrecked in the last 12 months, and didn’t post updates even though you posted that you hoped the other person would update.

77

Whats a little insurance fraud among friends?

The comments are heavy handed because the consequences are potentially significant and youre simply gambling on the apathy of the insurance adjuster.

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79

We are still waiting for an update from the OP, @amazonman

80

And I wouldn’t even call the comments heavy handed. What the OP and this other poster are talking about is totally, obviously illegal, full stop.

Of course more reasonable people will counter w/, “That’s a really f*cked-up idea.”

81

You said you paid off your car before the accident.

That’s the key part.

Why would anyone “turn you in”?

There’s nothing illegal or fraudulent about buying a car and it being totaled after you bought it.

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82

I didn’t say I was worried. I said if people were successful in their attempt to buy post accident they might be worried given the tone of the forum. I deleted my posts because it’s not worth it and I don’t want to give someone bad advice. I’m out. :slight_smile:

83

Apples vs oranges. Not comparing the same things.

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84

I am confused. When should I total my Nissan? Before or after I do the buyout?

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85

Don’t worry, when the CVT gives out at 80mph , it might total itself.

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86

Its a nissan, so there shouldnt ever be an “after” buyout

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87

Should there even be a before? Lmao

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88

Let’s put money in his books

89

I can see why you’d think that, but seems the consensus is that it’s more likely those not coming back didn’t want to report their failure to achieve this. Nobody likes to be proven wrong. Especially those that were super adamant and felt entitled to that equity, forum advice be damned.

I doubt people who intend to purchase out their car after totaling it, that feel entitled to equity despite what the structure of a lease and what they may have signed and may be lying to their insurance company and/or captive are worried about the repercussions of publicly but anonymously posting up their achievement. Just my opinion.

That said, it’s always better to have the answer and data point on whether this ‘works’ or not.

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