ygmn

Did OP make a claim with his gap insurance company to cover this difference since MB did not (not like they have to either)?
Would they not then write him a check since MB was made whole.
OR did he not have Gap insurance?

I can see why MBFS said "heck you do not need gap insurance as you gave us $20k money to invest and keep any interest on it while you drive around in our car and this money should cover any gap you should have should something bad ever happen"

PS "we hope you do not wreck so we can make plenty of money from your money."
"We will give you a little off the payment but not as much as we can make off your deposit"

Seems everything is setup for MB to make money and not lose money on any transaction - Go figure.

IF it was me I would go back to original Insurance company who only paid $92k and try to get more money from them.
Then call gap insurance company and say hey I need to make a claim.
And if he did not have Gap - start scrounging up money - oh but waait I gave them a huge deposit they can just take the gap from there and send me the difference via certified check or bank wire.

simple question: Who owns the wrecked car?
your insurance company, MBFS and/or OP

Thereis still value int he wreck - PArts are not cheap today and delivery can suck.

Frenetic

Good luck. I hope you win.

Disclaimer: I’m not a lawyer, but I would present everything, including what the dealership said, the contract itself about the gap waiver, etc.

SW20S

You can certainly bring a lawyer.

And all you had to do was read the lease agreement, its not the dealers job to explain the agreement to you unfortunately.

The lease includes GAP insurance but he cant make a claim, only MBFS can they are the insured. He could have gotten private GAP insurance in addition to that but nobody does (including me).

Read any document or agreement from any lender for any purpose, they are all the same way.

If the insurance company totalled it and paid it out, they own the car. Before the accident, MBFS owned the car. In a lease the leasee never owns the car

The insurance company will sell it at a salvage auction to recoup some of their loss. Thats how it works.

juanmor40

. However, it is their practice to keep you distracted and under pressure to close the deal. With phases such as: "Do not worry about the details, it is a boilerplate contract like everyone else uses" or along those lines, which is in fact true, BUT ...

SW20S

Thats been the case forever...its the consumers responsibility to step back and make sure they understand everything though. Those phrases have zero impact on me, and they should have zero impact on everybody.

It is true though, all the agreements are the same. You just need to take the time to understand how all of it works. When the sales manager said "yes you will get your MSDs back in the event of a total loss" my first question would be please point out where in the contract it says that, and put that in writing and sign it.