Returning A Leased Car After An Accident
One of the most important decisions you will ever make when it comes to leasing a car is returning a leased car after an accident. Many people do not think about this because they assume they are covered under their current auto lease. Unfortunately, your auto lease may not cover you in the event of an accident. It is important that you discuss this with your leasing company before you sign any agreement with them.
If you are worried about being able to return your car because it was in an accident, the good news is that you have some leeway. In most states, you can choose to return the automobile even if it was in an accident. The main thing to keep in mind when thinking about returning a car leased through an auto lease company, however, is that you need to contact your leasing agent to discuss this issue before signing your agreement.
There are a few different reasons why you might want to return a leased automobile. Perhaps, you bought the car without thinking about the risks associated with that vehicle. Unfortunately, buying a car without considering the possible problems can lead you into trouble in the future. Another reason people may choose to return their leased car is that they were unable to make the payment on time. This can be due to many different things, but one of the biggest reasons is that they were expecting higher payments or better rates.
If you return a leased automobile that was in an accident, there are several things that you can expect. Your auto lease contract usually includes coverage for property damage or bodily injury that was inflicted on anyone else who was in the car at the time of the accident. This coverage is typically limited to damages incurred during the time of the accident, which means that you will only be compensated if your leased car was in an accident that was your fault.
What To Do After Returning A Leased Car After An Accident
You should also know that even if your leased car does not have accident coverage in your contract, you may still be able to sue the other party. If the other driver was driving under the influence at the time of the accident, then they may be held responsible for the accident. In order to get this settlement, you may need to obtain an accident report from your local police department or the Department of Motor Vehicles. Having an accident report will help your attorney to prove that the other driver was at fault.
Many people think that when they return a leased car after an accident, they automatically void their auto lease. However, this is not true. The accident report still remains on file with the department of motor vehicles. If the other driver’s policy covers you, then you will be covered regardless of whether you decided to return the car or not. It just makes good sense to return the car if you do not have coverage from your auto lease.
Related: What To Do When A Car Hits Your Car