# Residual Value After Accident **URL:** \ **Category:** Insurance\ **Tags:** jeep\ **Created:** [October 7, 2022, 3:02pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072 "2022-10-07T15:02:30Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![ginger](https://leasehackr.b-cdn.net/letter_avatar/ginger/32/5_5575768a8748004e209b776fc1b2916d.png) [@ginger](https://forum.leasehackr.com/u/ginger)\ **Post date:** [October 7, 2022, 3:02pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/1 "2022-10-07T15:02:30Z")
This is my first leased vehicle (Jeep). We leased it a year ago with the possible intent of buying it at the end of the lease. It was about $55k and if memory serves, the RV after 4 years is $37k. A drunk driver hit it 10 months ago, we were without the Jeep for 6 months (supply chain issues). The claim is still open as we await a few small parts but we can drive it. The “driver”'s insurance is paying for the parts ($10k worth) and covered the rental. I’m questioning on if there will be an issue at lease turn in. Is my residual value going to suffer? If so, is that a good thing for me if I choose to buy it and a bad thing if I decide not to? I’m curious while the claim is still open, if I should sue for the difference. I read that the leasing company (Ally) probably already did this. Trying to get any guidance from Ally on this is impossible and I don’t want a surprise in 3 years. ---
**Author:** ![forbs](https://leasehackr.b-cdn.net/letter_avatar/forbs/32/5_5575768a8748004e209b776fc1b2916d.png) [@forbs](https://forum.leasehackr.com/u/forbs)\ **Post date:** [October 7, 2022, 3:03pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/2 "2022-10-07T15:03:37Z")
Your personal rv will go down. (Your contractual RV will not btw) Turn it in and walk away on lease end Dont buy the car with an accident on it ---
**Author:** ![ginger](https://leasehackr.b-cdn.net/letter_avatar/ginger/32/5_5575768a8748004e209b776fc1b2916d.png) [@ginger](https://forum.leasehackr.com/u/ginger)\ **Post date:** [October 7, 2022, 3:04pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/3 "2022-10-07T15:04:23Z")
Thank you! ---
**Author:** ![nyccarguy](https://leasehackr.b-cdn.net/letter_avatar/nyccarguy/32/5_5575768a8748004e209b776fc1b2916d.png) [@nyccarguy](https://forum.leasehackr.com/u/nyccarguy)\ **Post date:** [October 7, 2022, 3:08pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/4 "2022-10-07T15:08:34Z")
+1 - this is one of the benefits of leasing. The bank (leasing company) now has to eat that depreciation. Turn it in and walk away. I hope you and your family were not injured. ---
**Author:** ![Petrem](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/petrem/32/65654_2.png) [@Petrem](https://forum.leasehackr.com/u/Petrem)\ **Post date:** [October 7, 2022, 4:09pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/5 "2022-10-07T16:09:26Z")
some states will allow for the at-fault driver’s insurance to pay for depreciation from an accident ---
**Author:** ![forbs](https://leasehackr.b-cdn.net/letter_avatar/forbs/32/5_5575768a8748004e209b776fc1b2916d.png) [@forbs](https://forum.leasehackr.com/u/forbs)\ **Post date:** [October 7, 2022, 4:41pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/6 "2022-10-07T16:41:34Z")
I’ve seen many posts about Diminished Value, but have yet to get concrete proof that a lessee can obtain it. ---
**Author:** ![Petrem](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/petrem/32/65654_2.png) [@Petrem](https://forum.leasehackr.com/u/Petrem)\ **Post date:** [October 7, 2022, 4:59pm UTC](https://forum.leasehackr.com/t/residual-value-after-accident/434072/7 "2022-10-07T16:59:30Z")
I was referring to the comment on banks eating the dimished value. They’ll get some $ from insurance, lessee doesn’t own the car so no diminished value claim.