Help - new car totaled by hurricane Sandy
11-09-2012, 06:30 AM
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Benz C204 - Range Rover Sport - Ducati Monster
Help - new car totaled by hurricane Sandy
Hi All,
Exactly 30 days after taking possession of my fully loaded leased 2013 C250 as well as my home, the hurricane took everything away.I have already contacted the dealership and found another identical vehicle. I have a few questions maybe someone can help me with:
My out of pocket expense for totaled C250 was $3,800.00 (taxes/fees/reg etc.) I have requested an exchange of collateral, but am not holding my breath. Has anyone had experience with a vehicle totaled by an act of god in such a short period of time? The car had just under 900 miles on it.
Also, regarding depreciation does anyone have a ballpark monthly depreciation value (%)? The sticker price on my vehicle was 44,790 and I negotiated it down to $38,500 prior to starting the lease negotiation. My insurance company has offered MB Financial a settlement in the amount of $38,130… not even one adjuster came to my home and it was just towed this afternoon, being taken to a salvage yard to be put up for auction.
My line of thinking is sticker price minus 30 days 900 miles depreciation should be the final pay out. Payout should not be calculated based on my negotiated sales price. As it stands not only am I out the 3,800 down, but I will have to pay an additional 3,800 for the new car. Sorry for rambling, but after losing my home and two cars I feel like my world has collapsed.
Thanks for any help.
Exactly 30 days after taking possession of my fully loaded leased 2013 C250 as well as my home, the hurricane took everything away.I have already contacted the dealership and found another identical vehicle. I have a few questions maybe someone can help me with:
My out of pocket expense for totaled C250 was $3,800.00 (taxes/fees/reg etc.) I have requested an exchange of collateral, but am not holding my breath. Has anyone had experience with a vehicle totaled by an act of god in such a short period of time? The car had just under 900 miles on it.
Also, regarding depreciation does anyone have a ballpark monthly depreciation value (%)? The sticker price on my vehicle was 44,790 and I negotiated it down to $38,500 prior to starting the lease negotiation. My insurance company has offered MB Financial a settlement in the amount of $38,130… not even one adjuster came to my home and it was just towed this afternoon, being taken to a salvage yard to be put up for auction.
My line of thinking is sticker price minus 30 days 900 miles depreciation should be the final pay out. Payout should not be calculated based on my negotiated sales price. As it stands not only am I out the 3,800 down, but I will have to pay an additional 3,800 for the new car. Sorry for rambling, but after losing my home and two cars I feel like my world has collapsed.
Thanks for any help.
11-09-2012, 09:02 PM
#2
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1990 Honda Civic Si Hatch / 2008 G37SCoupe / 2011 G25Sedan / 2012 C250 Sport Sedan
Sorry to hear that man. I hope u got good insurance for house and car. Good luck
11-09-2012, 10:11 PM
#3
I'm in a similar situation with regard to my car. I had my 250 coupe since Jan 2012 and it flooded. I'm awaiting on a settlement from my insurance co. to MBFS for the lease. Not sure what I'm out of yet money wise, aside from the fee's I put down when I picked up the car. Keep us posted with any news.
11-09-2012, 10:12 PM
#4
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2010 E350 4Matic
Hi All,
Exactly 30 days after taking possession of my fully loaded leased 2013 C250 as well as my home, the hurricane took everything away.I have already contacted the dealership and found another identical vehicle. I have a few questions maybe someone can help me with:
My out of pocket expense for totaled C250 was $3,800.00 (taxes/fees/reg etc.) I have requested an exchange of collateral, but am not holding my breath. Has anyone had experience with a vehicle totaled by an act of god in such a short period of time? The car had just under 900 miles on it.
Also, regarding depreciation does anyone have a ballpark monthly depreciation value (%)? The sticker price on my vehicle was 44,790 and I negotiated it down to $38,500 prior to starting the lease negotiation. My insurance company has offered MB Financial a settlement in the amount of $38,130… not even one adjuster came to my home and it was just towed this afternoon, being taken to a salvage yard to be put up for auction.
My line of thinking is sticker price minus 30 days 900 miles depreciation should be the final pay out. Payout should not be calculated based on my negotiated sales price. As it stands not only am I out the 3,800 down, but I will have to pay an additional 3,800 for the new car. Sorry for rambling, but after losing my home and two cars I feel like my world has collapsed.
Thanks for any help.
Exactly 30 days after taking possession of my fully loaded leased 2013 C250 as well as my home, the hurricane took everything away.I have already contacted the dealership and found another identical vehicle. I have a few questions maybe someone can help me with:
My out of pocket expense for totaled C250 was $3,800.00 (taxes/fees/reg etc.) I have requested an exchange of collateral, but am not holding my breath. Has anyone had experience with a vehicle totaled by an act of god in such a short period of time? The car had just under 900 miles on it.
Also, regarding depreciation does anyone have a ballpark monthly depreciation value (%)? The sticker price on my vehicle was 44,790 and I negotiated it down to $38,500 prior to starting the lease negotiation. My insurance company has offered MB Financial a settlement in the amount of $38,130… not even one adjuster came to my home and it was just towed this afternoon, being taken to a salvage yard to be put up for auction.
My line of thinking is sticker price minus 30 days 900 miles depreciation should be the final pay out. Payout should not be calculated based on my negotiated sales price. As it stands not only am I out the 3,800 down, but I will have to pay an additional 3,800 for the new car. Sorry for rambling, but after losing my home and two cars I feel like my world has collapsed.
Thanks for any help.
11-09-2012, 10:13 PM
#5
Thats only in the case of a purchased car, leased cars do not get replaced. The lien gets settled by the insurance company and you pay the deductible; any positive equity after the settlement gets sent to you by check from the insurance company as well. I'm not sure what MB will value the car for when the insurance company contacts them, it could be more, less or equal to the total loss estimate. I personally am waiting to hear back about this right now.
Last edited by Igor1080; 11-09-2012 at 10:16 PM.
