What
Does
Your
Lease
Contract
Say
About
Overages?
15 Likes
Nothing. GAP. Thatâs it.
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Hope OP recover soon. Since the EQS protect passengers and hold value well. Get another one and make sure buy this time
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I hope thats sarcasm
6 Likes
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I think as other people have already stated. You would most likely get nothing back so you shouldnât get your hopes high and also read your contract to find out what it says. You can try suing the other driver for any losses.
One should not finance a car like EQS and shouldnât put in a downpayment on leased vehicles. I think people tried to explain the first part to you in your earlier 200+ comments post. Rookie mistakes.
3 Likes
Ask geico to cut two checks, one for payout and one to you maybe?
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You should have asked before you put the down payment to lower your monthly payment. For that one month you saved ~ $111.
Read this for yourself since you donât trust the experts here.
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The payoff of 124 is after taxes, adjusted value of 117 is pretax, so GEICO is on the hook for about 127 total. As @HersheySweet said, ask GEICO to cut two checks: one in the exact account of payoff, the other for $3K to you as their insured. Then see if MBFS is ok with being paid in full. You wonât get your full DAS back, be happy IF you can wrangle at least some of it.
Alternatively, you can sue the kid for the $4K to make you whole.
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Did you forget to ask whether you are getting any money back?
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Kiss that 4k goodbye and be glad u got that gap. Damn do these EQS cars lose that much value?
The âexpertsâ at FINN have a wee bit of conflict of interest:
If leasing is not the best choice right now, consider a FINN car subscription. FINN makes choosing the car you want convenient, right down to the make, model, trim, and color. FINNâs team will even deliver your car to your door. Learn more about how it works, including subscribing to a car without worrying about any down payments.
So, how does down payment differ from a one-pay lease thatâs ever so popular on LH? Single pay is essentially a 100% down payment for the term of the lease.
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A one-pay lease is refunded back to you by the bank (prorated) in the event of a total loss. A down payment is not.
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Bet thatâs all subject to state law, contract signed and insurance policy.
The contract terms on a one pay are quite different.
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Dang⌠gone through the whole thread and still didnât see the contract picture
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Iâm sure MB contract (if anything like BMW contract) gives them the rights to the full settlement from the insurance company. When you list them as the lessor on your insurance policy that gives them the right to negotiate the settlement value with the insurance company directly and they will want the full check amount - they wonât let Geico split it into 2 checks.
I didnât say it was perfect but a quick search of the internet would have given him ample opportunities to understand that money is 
.
Legal speaking this is considered âspeculativeâ. In Judge Judy parlance thatâs called âcoulda, woulda, shouldaâ.
The fact that might have maybe potentially captured equity, isnât really enough to win a claim like that.
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Again, thereâs still an option of taking the at fault driver to a small claims court if all else fails. The insuredâs rights vary from state to state.