Some quick background, I leased a 2024 BMW IX which ended up in a total loss due to an accident where a drunk truck driver was driving on the opposite side of the road and collided into me head on.

2 months later after my insurance company cut a check for the value of the car which was sent to BMW Financial Services, I was told that it is BMW’s to take the full value of the car from the check AND keep all my lease payments + down as part of their lease policy.

Has anyone else had to deal with this and were you able to recoup your losses from BMW? Do most car companies have this bogus policy on their leases?

  • tamago84BEnglish
    1·
    1 year ago

    Do u understand what a lease means? Its not ur car

  • admiralnormanBEnglish
    1·
    1 year ago

    I’m so sorry my dude. This is a super terrible way to learn this lesson. It’s time to start looking at the positives. There were probably things you loved about the car and things you hated. So for your next car you’ll make a more refined decision. Also since you chose to post about it online, others will also have the chance to learn. There are also things a dealer can do to lower a lease payment, if you’re cool about it, you could lean on them and get them to make you a deal into a new car. Again so sorry my man. It really really sucks.

  • FranktheTankG30BEnglish
    1·
    1 year ago

    You never heard of depreciation? The insurance probably cut a check just enough for the payoff amount. That payoff amount is after subtracting the payments + down pay you already made. of course you are not getting those money back.

    also down payment on lease is a big no. Instead of down-payment you should be turning that down payment into max MSD. drive-off+first month payment is the only thing you should pay on lease besides the MSD which you will get back.