Diminished Value claim in Florida for a leased vehicle?
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Hi Guys, I will try to keep this short and to the point. A few weeks back my wife was hit in the back by someone not paying attention. We filed the police report and the we were found not at fault for the accident. I am trying to file a claim for diminished value on my vehicle, it was only 2 weeks old. I went to 3 dealerships, 2 honda and car max and got around the same figure on each appraisal, 17-18k. I went to sources such as NADA, Edmunds, KBB, Black Book, and other sources and the perfect condition of the vehicles value was around 20,500. I am trying to collect the diminished value on my vehicle but Progressive is saying that since I am leasing I am not entitled because I am not an owner. I responded to how ludicrous I found that because even if I am financing I am not in possession of the title and even though I am leasing I am responsible for the vehicle and all damages to it and are able to collect for any lost value on it as well. And now because of the bad car fax any chance at any positive equity situation is now all but vanished. Does anyone have any experience with this to help me proceed? I am trying to just do it myself without having to get my attorney involved but it seems to be heading down that route. Thanks!
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Answer:
As they told you. You do not own the car. You are only borrowing it (lease). Once the lease is up you need to return the car. So you get nothing.
andrew c at Yahoo! Answers Visit the source
Other answers
Unfortunately even though you'd like to make some money out of it you are not entitled to any money for diminished value. S progress he said you do not own the car you are leasing it. At the end of the lease you return it.
Rob Peters
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