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Why is this forum/blog HAVE SO MANY RULES? WHY ARE POST MOVED AND DELETED AND YOU CAN'T POST REPLIES AS A JUNIOR MEMBER?
This is so frustrating that I will not be using this site anymore.
You have to treat the accident as thou you own the car. If not in expected condition when you turn it in they repair it and bill you. Often easier to sell it and pay off the purchase price.
I did not see your original post but if you were in an accident and your car is leased, the check made for repairs will be made out to you AND the leasing company since they own the car. This way they can be assured you make the repairs.
If you were not at fault and go thro the other party's insurance the check will be made out to you but as pp stated you must repair the car before you turn it in.
true you pay so much a month on something you have to give back every 2-3 years but if you own a small a business it is worth it. Since you can write alot of it off as a business expense.
Not exactly. In fact, it's more like buying a car (and making monthly payments on it) with an agreement that the seller will buy it back from you for a specified amount at a specified date, subject to any price adjustments associated with damages that need to be repaired.
The real financial burden of the contract is on the seller, who above all must fullfull its agreement to buy it back from you. But they have wide contractual powers to adjust the price they have agreed to pay. You don't have to sell it back to them, you can just pay them the unpaid balance from the original purchase price, and the car is yours. Your insurance pays for repairs of any damages.
But they have wide contractual powers to adjust the price they have agreed to pay.
No, they don't. The buy-out price is fixed in the contract.
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