Should this be totaled? (05 X3 3.0)

[brivalen]

I was in a accident that was not my fault on Tuesday morning. A driver lost control, crossed the center line and hit me, I was then thrown into oncoming traffic and hit again on the passenger side - then I hit a light pole. All my driver side airbags went off but I was fine - not even a scratch.

The car is about 7 months old and has approx 12,000 miles on it. At what point do they total it? Every body panel has sustained major damage - the drivers front and passenger rear wheels are bent into the car and all 4 wheels and 3 tires are damaged. My rear view mirror was knocked off and the NAVI screen was cracked.

here are my questions - when I leased the car I put down $3000 to cap down my payments. What happens to that cash if the car is totaled? According to Liberty Mutual (my ins co), if the car is totaled, they pay me the actualy cash value and then BMW Financial Services will pay the difference with the gap insurance that is included in every BMW lease. So where does that leave me? I had a 39 month lease and got to use 7 months. I figure I am owed $2462.

at what point is the car actually going to be totaled? I am never going to be happy with a repair job and I feel like there is much more damage then anyone thinks. I really dont want them estimating it will cost $20,000 then it actually costing $35,000 and nothing will ever "feel right".

ahhh and nothing is as good with out pics:

http://community.webshots.com/album/547622583IVbASX

http://community.webshots.com/album/547622583IVbASX


Brian

[Roc3b]

I think it will really come down to the sub frame, if it is twisted and such...I would push for the total lost. A car is never the same after that type of damage.

[MysticBlueX3]

Sorry to hear about the accident. Glad you are ok. Makes me feel really safe hearing you walking out without a scratch. Any whiplash?

[jaaX3]

Sorry I have no advice on your question as I have never had it happen to me, but we're glad you are ok. It also makes me feel good that you came out without a scratch (I have an X3, also). Whatever happens, good luck with the situation, and keep us updated.

[AutoXer]

Wow, best of luck. I would push the insurance company to rule it totaled and push for a new car because it's only a few months old. Maybe they can paid off the car to BMW and you work with BMW to get a new lease.

[sfhondapilot]

Unfortunately, the cap cost reduction is probably gone. With hindsight, you might have been better off putting aside the cap reduction and hitting that account every month to "buy down" your lease payment. Leases thru BMW Financial include gap insurance, so if the value of the car was less than the lease balance, BMW Financial would have eaten that difference.

Sorry to hear about accident. Hopefully BMW will transfer your lease to a replacement vehicle.

[blondboinsd]

When I totaled My X5 3.0i (2004) I was in the same boat, I was hit by a drunk driver In a Nissan Titan side impact in my drivers door at 65mph and it threw me across the intersection, They totaled my car (well duh lol) and BMW FS paid the gap difference and I ended up suing the guy for the difference in the money factor and residual and 3 payments (36mos vs 39mos) and my down payment plus some additional money and I won, I'd recomment speaking to a lawyor, mine was pretty much an open and shut win

[White05X3]

Most importantly... I am glad you are ok! That looks like a pretty scary accident!

I suspect that it will not be a total loss although it should be. There appears to be major frame damage. Make it known from the start that you intend to pursue diminished value if they do not total it.

Good luck!

[f355b]

iam not sure they will total that! i guess it depends on how much damage we cant see but most looks like body work. will need a new shell etc but i bet they fix it

[Mackskibum]

IMHO that looks totalled. The way the insurance companies look at the situation is this:

Actual retail value
- Salvage value
= total cost of repairs

SO: if your X3 is worth 30K - 12K salvage (a guess) that leaves 18K for repairs.

The $3000 cap reduction is gone. That's the dirty little secret about leasing and a total loss- anything used to buy down the contract is shot in the ass- remember you don't own it- the leasing company does. SFhondapilot is right- never buy down a lease- take the cash, put it in your own account and tap the account every month to minimize the payments. That way the gap coverage takes care of the difference if it is a total loss and you get to keep what is left in the account.