If you’re a car consumer in Brockton, Stoughton, or Randolph looking to drive an excellent vehicle at an affordable price, the best decision you can make is to lease a vehicle. Leasing allows you to access higher-priced models and is a convenient solution for driving an excellent vehicle.
However, there is one complicated issue to leasing that many people aren’t aware of: accidents. Getting into an accident with a leased vehicle can be very stressful, especially if you don’t know the proper procedure. Learn what you need to do after an accident in a leased car, and find out why you need to schedule repairs with a trusted car dealership.
Call Your Insurance Company
After your accident is over and you’re sure that your safe, the first thing you need to do is get on the phone.
First, you need to call the police and have them come to the scene of the accident so that they can create a police incident report. This will be useful for filing a claim with your insurer.
Second, you will need to call your insurance company. Notifying your insurer right away, even if the accident wasn’t your fault, is an important part of filing a claim.
Thirdly, and most importantly, you need to call your leasing finance company to let them know their car has been involved in an accident. It’s vital that you tell your leasing company about your wreck, especially if you believe the car will be declared a total loss.
Can the Car Be Repaired?
Once you’ve notified all the parties that need to know about your accident, it’s time to think about the possibility of repairing your leased vehicle in Randolph, Stoughton, and Brockton. Hopefully, the damage to your leased car will be able to be repaired. This will lower your future expenses.
If your leased car can be repaired after your accident, it’s important to be aware that it must be repaired so that it’s condition is ‘like new’. This means that you will need to take your car to a certified maintenance professional and that only Original Equipment Manufacturer (OEM) parts will be used. If you neglect to have your car repaired the right way, you might be charged for further repairs at the end of your lease.
Cars Not Eligible for Repair
Unfortunately, following an accident, some leased cars will be considered a total loss, meaning they can’t be repaired. If this is the case with your accident, the insurance company should reimburse your leasing finance company for the vehicle’s market value. The problem with this is that the insurance payout will usually be less than your lease buyout balance, which means you will most likely be required to pay the remainder unless your lease includes gap insurance.
To avoid paying these out of pocket expenses, it’s important to make sure you have adequate insurance coverage.
Get Help After an Accident in a Leased Car
The best way to respond after you’ve been involved in an accident in a leased car is to bring your vehicle to a trusted direct repair shop like Collision 24. The experienced service department at Collision 24 can make sure that your leased vehicle is repaired the right way so you avoid future penalties and repair costs. Schedule your consultation today!