Need Help!! 2017 Lexus RX 350 Lease Transfer (With Damage)
#17
Lexus Champion
#18
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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.
#20
#21
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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....
#22
Super Moderator
![](https://www.clublexus.com/forums/images/ranks/rank-smod2.gif)
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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.
#23
#24
Lexus Fanatic
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
I've never had an insurance company have an issue if I can't produce a police report, but still...highly inadvisable.
#25
Lexus Fanatic
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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.
Last edited by Toys4RJill; 01-09-20 at 12:42 PM.
#26
Lexus Champion
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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??
Thread
Thread Starter
Forum
Replies
Last Post