Need Help!! 2017 Lexus RX 350 Lease Transfer (With Damage)

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01-09-20, 08:45 AM

#16

Och

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Quote:

Originally Posted by tex2670

Why should he if he can get someone else to deal with it?

Makes no sense to give someone $5,500 in cash instead of having the repairs paid for by the insurance company?

01-09-20, 09:23 AM

#17

tex2670

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Quote:

Originally Posted by Och

Makes no sense to give someone $5,500 in cash instead of having the repairs paid for by the insurance company?

The entire OP makes no sense.

01-09-20, 09:41 AM

#18

COOLIS

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Something is fishy here. The current owner could use insurance to fix the car and then turn in the lease early and apply that $5500 they're giving the OP to the cost of terminating the lease early. If payments are $440, that $5500 would cover most the cost of terminating the lease early. I'd probably walk away from this one.

01-09-20, 09:47 AM

#19

Blaze876

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Quote:

Originally Posted by grabber2

It looks like what is tempting is the upfront cash offer.

I don't think its proper to get advice here if your intend is to claim insurance on the existing damage. I'm not sure if it will fly since most insurance require photo inspection on full coverage.

I've been with 21st century for 2 years and Geico for 2 years. Changed car 3 times and was never asked for photos. I actually found it strange.

01-09-20, 09:56 AM

#20

grabber2

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Quote:

Originally Posted by Och

How come the current owner isnt repairing it under insurance?

he probably did and received the insurance check. He just didn’t fit it yet.

It happen to my XC90 after I got hit. I didn’t fix it until a month before the return.

01-09-20, 10:07 AM

#21

stasek

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Or.... the owner doesn’t want to put a claim in due to his insurance going up AND the fix being relatively cheap. I just had our front bumper cover (on ‘08 LS) replaced for $500. On the other hand, my “brilliant” 19yo daughter literally bumped someone at an intersection (I know it wasn’t serious, since there was 0 damage to my car - tiny Honda Fit) and the “victim” insisted on cops and filing a report. Damage? $800 increase in my premium....

01-09-20, 10:14 AM

#22

geko29

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Quote:

Originally Posted by SW17LS

Youd have to lie to them and tell them it happened after you bought the car. Also known as insurance fraud

On top of that, the insurance company is going to want a police report, dated during the policy. Now we're talking a felony in many (but not all) states. Shall we say....highly inadvisable.

01-09-20, 11:46 AM

#23

grabber2

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Quote:

Originally Posted by Blaze876

I've been with 21st century for 2 years and Geico for 2 years. Changed car 3 times and was never asked for photos. I actually found it strange.

Are those new or used car? No photo inspection for new car.

01-09-20, 12:03 PM

#24

SW17LS

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Quote:

Originally Posted by geko29

On top of that, the insurance company is going to want a police report, dated during the policy. Now we're talking a felony in many (but not all) states. Shall we say....highly inadvisable.

I've never had an insurance company have an issue if I can't produce a police report, but still...highly inadvisable.

01-09-20, 12:15 PM

#25

Toys4RJill

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Quote:

Originally Posted by stasek

Run this by an independent shop to see how much the repairs would be, but I assume they shouldn’t be more than half of what he’s offering. If that’s the case, transfer the lease, drive the car till the end and turn it back in OR run the numbers through places like carvana or vroom. There’s a small chance you might have some equity built in, but not much. If the accident was reported to car fax/auto check, the retail will take a significant hit.

What a mess. Move on and buy out right or lease if that is what you want a new RX. Stay away!

Last edited by Toys4RJill; 01-09-20 at 12:42 PM.

01-09-20, 12:22 PM

#26

tex2670

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Quote:

Originally Posted by SW17LS

I've never had an insurance company have an issue if I can't produce a police report, but still...highly inadvisable.

Not every accident requires a police report. You don't need one -- completely hypothetically of course -- if your wife backs out of the garage with the rear passenger door opened. Like I said -- hypothetically.

As if making a claim under insurance for a car you bought with damage was bad enough, if you were going to claim say, a parking lot hit and run, you'd really be making a terrible move. As if calling and saying "Oh--I bumped into a curb" wasn't already bad enough, not only for the fraud but for the potential premium increases.

BTW -- OP, where'd you go??