scrubsauce

Hello my 2010 G37 lease is coming to an end this month, and I wanted to buy it out because it is $24k. I can't find a better overall car for this money but today I was rear ended by kid on a rusty f-150 who was texting.

Long story short, I don't want to buy the car now that it has an accident report, unless I was somehow compensated some amount of money to offset the loss in value due to the accident. The bumper is torn open in the rear center, but that's about it, it could have been a lot worse.

I know with a lease Infiniti will get the money but if I buy it next month, or extend the lease a month or two and then buy it, can I get the insurance money directly if I own the car, then find a shop to do it who will charge less than the appraisal? How much time do I get to fix the car?

Also does the fact that it's been in a wreck make it possible to negotiate a smaller amount on the buyout?

This is my first accident, so I'm unsure how insurance works in this scenario.

blnewt

iTrader: (13)

When your lease is up it goes through a pre-inspection, usually a few weeks prior to ending your lease. This is when any issues that need to be addressed will be noted in the inspection such as tire wear, dents, interior damage, etc. The car needs to be brought back in reasonable condition, anything less will be charged to you to get out of the lease. If you buy out the lease you pay the residual value and it's yours, you're bound to the residual amount through your lease contract, I've heard of renegotiating residuals but think it's pretty rare. Not sure what would be your best way to go, I think you need to contact Infiniti finance to find out what happens in this particular case since the G won't be worth as much to Infiniti when you turn it back in. Might be a case for gap insurance but not sure.
Good Luck & sorry to hear of your damage

scrubsauce

Thanks for the input, I had an estimate done on the phone and it's about $1000 to replace and repaint the bumper and install it from the dealers "preferred" body shop. That sounds pretty damn low if you ask me for OEM Infiniti parts considering they want $500 for a midnight grille... a rear bumper is $597??? So i'm not even worried about the damage as much as the diminished value. He said that the bumper reinforcement on the inside may be damaged as well. I think my muffler tips are also bent a little. Maybe I can get that all included into the estimate when the insurance appraiser comes to look at it.

I found this on google

Diminished Value claim in Florida | State Laws Related to Diminished Value

I think they can win some money and help me to recover diminished value when I resell it in the future. I need to know I can get the proper settlement because this will determine if I buy the car or give it back at the end of lease.

rmfnla

Be sure to have the car fully inspected before buying it.

Banging the exhaust can affect the motor mounts and/or the drive train (including the tranny!)...

TripleJ

I'd just use this accident as a negotiating tool when you buy out at the end of the lease. Try to bring it down to 20k or something? Obviously, you aren't buying out the same vehicle anymore at this point.

chairman25

I had an accident with my G37, the check was written to the repair shop by the responsible party's insurance company. I spoke to the shop and told them I did not want anything but OEM parts on the car, and will not accept cheaper replacement parts, period.

The body shop negotiated with the insurance company and got the necessary parts. As part of the repair, they pulled the car apart and inspected it for "residual damage", there was little or none. The car was fixed to my satisfaction.

Make sure that you discuss the repair with a good shop (get a name from a friend or trusted family member), try not to go to a "recommended" shop. Those shops are paid to do a "quick and dirty" repair and they generally do not look beyond the cosmetic damage. These guys are assembly lines for insurance companies and have little interest in what you want on your car. Go visit the recommended shop(s) and talk to them, many of them will have high end cars that they are working on and some do custom work (my shop does both).

As far as being reimbursed for loss in value, mention it to the adjuster and to your insurance broker.

If you are truly interested in keeping the car, Infiniti has no interest in getting the insurance settlement and fixing the car, that is on you. But get the car fixed before you turning it in.

Another option is turning in your current lease for a new one (the residual is not negotiable) go to the dealer and negotiate a lease on a new car using your current car as a trade. The dealer wants to sell you a car, they may give you a great deal on your current car. But talk to the dealer and be honest, you may be pleasantly surprised, then you are a "repeat" customer driving a new car. The dealer will tell you what to do to get the best value for your car (fix it or dont fix it). You have a choice, put yourself in charge of this unfortunate accident.

Best of Luck, let us know what happens.

RISKY GUY

iTrader: (9)

Yes you can quite easily, just file a claim In small claims court.
Once you show you were rear ended by driver on the phone, his insurance company will be & is liable for any diminished value.

If you have any questions, pm me I'll be glad to help you if I can.
Unfortunately I've been there & done that.