Quote:
Originally Posted by toyotastic
So my car has been deemed as a total loss. How does it work when a lease gets written off? Do insurance companies usually compensate for the part you already paid into the lease? I was nearly 2 years in and I was thinking to buy it out at the end of the lease.. I also put a small downpayment  |
Insurance only pays for value of the car at the time of accident. Leases are meant to just cover for depreciation of the car (mostly) so what you paid for is likely never coming back.
Remember, a lease is a glorified loan. You don't have direct ownership.