Minor accident ->leasing questions

Blackfield · 03-16-2018, 08:38 AM

Hi,

A couple of weeks ago, I was driving back home from work and it was raining a little bit.
The road was slippery and I pushed the accelerator pedal a little bit too much after exiting a corner.

The rear of the car swerved left and right - twice.
There was a road sign post and a tree on the right side of the road and there was a gap between the two.
I was unable to control the car during that moment and amazingly, the car went between the road sign and the tree.

The damages:
1. The left mirror was broken. I already replaced it.
2. The lower left side mirror housing is broken. It costs around $460 for the part.
3. There are scratches (surface only, no dent) on the right side of the rear bumper.
4. Scratches on the right rear wheel.

The left mirror hit the road sign post and I believe the right rear bumper scrapped the tree.

I leased my F80 2017 for three years and it's due in Dec of 2019.
TX is not a friendly state for car leasing, this is the first car I ever lease.

My questions:
1. I know many folks in the forum lease their car. Would you fix the above damages before you turn the car in?
2. How does the dealer access damage(s)? I am concerned that the dealer will charge me arm and leg for the above.
3. I have no luck finding lower housing mirror installation document. Does anyone have mirror installation document/how to?

Thank you.

AIRHEIR · 03-16-2018, 09:51 AM

1. You will either have to fix the issues or pay whatever amount is decided during pre-turn in inspection. Cheaper option would be to fix it.
2. Don't let your dealer assess the damage unless you have a good relationship with your dealer. Speaking from recent experience I went to dealer for pre-turn in inspection and before they finalized everything they said I needed to get one wheel fixed and that they charge a flat rate of $400 to fix it. I said don't bother with finalizing inspection. I reached out and scheduled an independent inspection and they completely ignored rim and did I was not charged.
3. See above.

jeveryday · 03-16-2018, 10:03 AM

Just get it fixed man. I had a an accident with my old 335 week before returning it on a lease and they told me to just get it fixed by a reputable shop. DO NOT take it back and let them assess the damage and bill you. Any decent body shop should be able to find whatever parts you need.

HPIA4v2 · 03-16-2018, 10:33 AM

I may reading it wrong, but OP seems to try to patch it for now to avoid any surcharge from insurance company (too many accidents or even your-fault/no-fault accident) can raise premiums significantly.

Cause I wouldn't look for parts on eBay, I'd take it to adjuster then body shop to get that car looks nice again

Super Spartan · 03-16-2018, 11:01 AM

Leased or not, it's your car (for now at least) so get it fixed at a reputable garage and don't worry too much about the how to's and where to get the parts. I'm sure any reputable garage knows how to source parts and fix them. I don't know how it is where you live but here in Dubai, we have a few BMW Specialists, they are like a garage, but only deal with BMWs and their work is even better than the dealership and significantly cheaper. They only use OEM parts but they don't charge you an arm and a leg on labor and their prices are cheaper even for OEM parts.

Blackfield · 04-11-2018, 07:37 PM

Thank you, I will fix the damages.

Instead of waiting for the lease to end, I am entertaining the idea to trade in the car with other car.

I presume one can trade in a lease car then pay off the amount?

If I trade in a car that I purchase, I pay less on the new car's sales tax because the sales tax is on the purchase amount minus the trade in value.

If I trade in a lease car, how is the sales tax going to be calculated? I am curious if I can get the same tax benefit as regular trade in.

Blackfield · 04-12-2018, 09:02 AM

No misconception here, in TX, when leasing car, you pay sales tax on the full purchase of the car.

erictrainer · 04-12-2018, 10:52 AM

Quick google and you sir are RIGHT. I stand corrected will edit my post...I guess IL is the same way too. Learn something new every day!

Quote:

Originally Posted by Blackfield

No misconception here, in TX, when leasing car, you pay sales tax on the full purchase of the car.

jmg · 04-12-2018, 04:23 PM

Quote:

Originally Posted by Blackfield

Thank you, I will fix the damages.

Instead of waiting for the lease to end, I am entertaining the idea to trade in the car with other car.

I presume one can trade in a lease car then pay off the amount?

If I trade in a car that I purchase, I pay less on the new car's sales tax because the sales tax is on the purchase amount minus the trade in value.

If I trade in a lease car, how is the sales tax going to be calculated? I am curious if I can get the same tax benefit as regular trade in.

Most likely you would be upside down on your lease, so there would be no reduction in cap cost.

03-16-2018, 08:38 AM	#1
Blackfield Private First Class 29 Rep 142 Posts Drives: a car Join Date: Nov 2009 Location: Lone Star State iTrader: (2)	Minor accident ->leasing questions Hi, A couple of weeks ago, I was driving back home from work and it was raining a little bit. The road was slippery and I pushed the accelerator pedal a little bit too much after exiting a corner. The rear of the car swerved left and right - twice. There was a road sign post and a tree on the right side of the road and there was a gap between the two. I was unable to control the car during that moment and amazingly, the car went between the road sign and the tree. The damages: 1. The left mirror was broken. I already replaced it. 2. The lower left side mirror housing is broken. It costs around $460 for the part. 3. There are scratches (surface only, no dent) on the right side of the rear bumper. 4. Scratches on the right rear wheel. The left mirror hit the road sign post and I believe the right rear bumper scrapped the tree. I leased my F80 2017 for three years and it's due in Dec of 2019. TX is not a friendly state for car leasing, this is the first car I ever lease. My questions: 1. I know many folks in the forum lease their car. Would you fix the above damages before you turn the car in? 2. How does the dealer access damage(s)? I am concerned that the dealer will charge me arm and leg for the above. 3. I have no luck finding lower housing mirror installation document. Does anyone have mirror installation document/how to? Thank you. Last edited by Blackfield; 03-16-2018 at 10:01 AM..
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03-16-2018, 09:51 AM	#2
AIRHEIR X3M Comp 444 Rep 718 Posts Drives: X3M Comp Join Date: Jul 2014 Location: NJ iTrader: (4)	1. You will either have to fix the issues or pay whatever amount is decided during pre-turn in inspection. Cheaper option would be to fix it. 2. Don't let your dealer assess the damage unless you have a good relationship with your dealer. Speaking from recent experience I went to dealer for pre-turn in inspection and before they finalized everything they said I needed to get one wheel fixed and that they charge a flat rate of $400 to fix it. I said don't bother with finalizing inspection. I reached out and scheduled an independent inspection and they completely ignored rim and did I was not charged. 3. See above.
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03-16-2018, 10:03 AM	#3
jeveryday Colonel 80 Rep 2,335 Posts Drives: 2012 535i xDrive Join Date: Oct 2007 Location: Long Island, New York iTrader: (6)	Just get it fixed man. I had a an accident with my old 335 week before returning it on a lease and they told me to just get it fixed by a reputable shop. DO NOT take it back and let them assess the damage and bill you. Any decent body shop should be able to find whatever parts you need.
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03-16-2018, 10:33 AM	#4
HPIA4v2 Major 254 Rep 1,391 Posts Drives: F80, F86 Join Date: May 2007 Location: Washington iTrader: (3)	I may reading it wrong, but OP seems to try to patch it for now to avoid any surcharge from insurance company (too many accidents or even your-fault/no-fault accident) can raise premiums significantly. Cause I wouldn't look for parts on eBay, I'd take it to adjuster then body shop to get that car looks nice again
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03-16-2018, 11:01 AM	#5
Super Spartan Colonel 1554 Rep 2,419 Posts Drives: 2023 Nissan Z Join Date: Jun 2016 Location: Dubai iTrader: (0)	Leased or not, it's your car (for now at least) so get it fixed at a reputable garage and don't worry too much about the how to's and where to get the parts. I'm sure any reputable garage knows how to source parts and fix them. I don't know how it is where you live but here in Dubai, we have a few BMW Specialists, they are like a garage, but only deal with BMWs and their work is even better than the dealership and significantly cheaper. They only use OEM parts but they don't charge you an arm and a leg on labor and their prices are cheaper even for OEM parts. __________________ 2012 BMW M3 E93 (Fire Orange) Akrapovic Evolution Titanium Exhaust Arkym Style Front Lip/CF Diffuser/CF Side Skirt Extensions LUX H8 189 Angel Eyes 2023 Nissan Z Performance (Ikazuchi Yellow)
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04-11-2018, 07:37 PM	#6
Blackfield Private First Class 29 Rep 142 Posts Drives: a car Join Date: Nov 2009 Location: Lone Star State iTrader: (2)	Thank you, I will fix the damages. Instead of waiting for the lease to end, I am entertaining the idea to trade in the car with other car. I presume one can trade in a lease car then pay off the amount? If I trade in a car that I purchase, I pay less on the new car's sales tax because the sales tax is on the purchase amount minus the trade in value. If I trade in a lease car, how is the sales tax going to be calculated? I am curious if I can get the same tax benefit as regular trade in.
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04-12-2018, 09:02 AM	#7
Blackfield Private First Class 29 Rep 142 Posts Drives: a car Join Date: Nov 2009 Location: Lone Star State iTrader: (2)	No misconception here, in TX, when leasing car, you pay sales tax on the full purchase of the car.
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