[Bch53211]

I got rear ended yesterday not super hard but bumper is messed up, small ding in the trunk and the difuser will need to be replaced getting an estimate right now. Thankfully, the other driver has insurance and it should be taken care of although I’m not doing any victory dances yet. From what I can see it will need a new bumper , diffuser, tail light and there is a small depression just to right of license plate that almost looks like it was struck by a golf ball. I’d like the whole trunk replaced but I have doubts the insurance company will do that . The collision center at my bmw dealership is very good and they assure me I won’t be able to notice it ever happened . I take very good care of my car but I’m not super picky like some who worry about paint match. My questions are how should I go about being compensated for potential value loss. I lease the car but I may buy it out and keep or resell at lease end. Secondly, is it better to go through my insurance and have them go after the other person’s insurance or go directly through their insurance company ? Mine is American family theirs is the General. My agent thinks AmFam may even own the general now. The reason I am leaning towards going directly through theirs is I had another non at fault insurance claim about a year ago when I was struck by a chunk of concrete off a truck that was a huge claim (20k+). No body damage but steering rack, exhaust, dif, etc.. I don’t want my future insurance eligibility to be affected. I have already started a claim against their insurance the adjuster said they consider it a 100% at fault accident by their client, and I did file an accident report with my state (WI). Is there any advantage to going through my insurance and have them go after the other persons or is it OK to just go directly through theirs? Thank you.

[Bch53211]

Update: unreal- the collision center just informed they will not accept claims from the General because they have had no luck being paid by them. I guess my only option other than going elsewhere is to go through my insurance.

[TopJimmy]

Pay for it yourself and make sure it’s not reported to Carfax. Just a bumper and paint should be $2K, and way cheaper than car deprecation.

I just claimed this on my F82 and lost both ways.

[Needsdecaf]

[QUOTE=Bch53211;30349360]Update: unreal- the collision center just informed they will not accept claims from the General because they have had no luck being paid by them. I guess my only option other than going elsewhere is to go through my insurance.

Always, ALWAYS go through your insurance and let them subrogate the other company. Let them deal with that crap. Send them the police report that states you are not at fault.

[Bch53211]

[QUOTE=Needsdecaf;30349413]

Originally Posted by Bch53211

Update: unreal- the collision center just informed they will not accept claims from the General because they have had no luck being paid by them. I guess my only option other than going elsewhere is to go through my insurance.

Always, ALWAYS go through your insurance and let them subrogate the other company. Let them deal with that crap. Send them the police report that states you are not at fault.

I appreciate your input. It sounds like that’s the only way I can go about it now anyway, my agent is on it. How do I go about asking for diminished value compensation? Would I potentially need to get a lawyer involved?

[Bch53211]

Originally Posted by TopJimmy

Pay for it yourself and make sure it’s not reported to Carfax. Just a bumper and paint should be $2K, and way cheaper than car deprecation.

I just claimed this on my F82 and lost both ways.

The preliminary estimate is $5800. I’m not paying this out of my pocket and I want to get it done by my collision center at the dealership. I got it from so there are no issues when I go to turn the car in at least end.

[SushiM3]

I went through something very similar on my leased F80.
My F80 was sideswiped by a drunk driver. Initial estimate was 20k to repair, ended up being 42k total. At fault driver had a 5k insurance limit (legal minimum in CA).
The car ended up being repaired by my body shop, paid by my own insurance, who then tried to sue the other guy’s insurance.

Unfortunately, you do not have a claim for diminished value on a leased car. BMWFS would have to sue the other party for diminished value as they own the car.

On the bright side, if you have the repairs done at a BMW approved body shop, you’ll have no problems turning in the lease. I originally wanted to buy out my f80 as well, but there was no chance with such a large accident on the record. Returned it to BMW no problem 6 months later, and I imagine they sold it at a slight loss at auction due to the history.

I would not recommend buying out the car with an accident on the record. Get it repaired, enjoy the car and turn it in. If you really want a g80, buy a similar used one for a similar price at your lease end. Take advantage of one of the key benefits of the lease - BMW is assuming the financial risk of unexpected depreciation.

[PipeM3]

Originally Posted by TopJimmy

Pay for it yourself and make sure it’s not reported to Carfax. Just a bumper and paint should be $2K, and way cheaper than car deprecation.

I just claimed this on my F82 and lost both ways.

Agreed!

[Gfit]

I’ve had a few experiences with this. In these cases since liability is not in doubt I file directly with the other party’s insurance. I never informed my insurance company.

Regarding diminished value, I’m not certain but I don’t think you have a case as you do not own the car and therefore you have no loss. Sure there’s a few what ifs but that’s not actionable as far as I know. That’s why I lease. Always.

[Forzanerazzurri]

Yeah you're not going to get anything for diminished value on an asset you are renting.

[G MONEY]

Originally Posted by Forzanerazzurri

Yeah you're not going to get anything for diminished value on an asset you are renting.

This. Just be glad you are leasing. Give it back at the end unless you are keeping forever. This is one of the beautiful things about leasing. If you ever get in an accident, you don’t take the loss.

[Forzanerazzurri]

Originally Posted by G MONEY

This. Just be glad you are leasing. Give it back at the end unless you are keeping forever. This is one of the beautiful things about leasing. If you ever get in an accident, you don’t take the loss.

Well that's definitely one way to look at it.

[Needsdecaf]

Originally Posted by Bch53211

The preliminary estimate is $5800. I’m not paying this out of my pocket and I want to get it done by my collision center at the dealership. I got it from so there are no issues when I go to turn the car in at least end.

If you leased there is zero need to worry about diminished value. Just get it fixed at a shop BMW will recognize and never worry again.

[Needsdecaf]

Originally Posted by Gfit

I’ve had a few experiences with this. In these cases since liability is not in doubt I file directly with the other party’s insurance. I never informed my insurance company.

They are going to find out. As soon as your name is in the system, they know. Even if you didn’t file with them.

In your scenario, you have to deal with the other party’s insurance co. Just get yours to deal with it. That’s why you pay them.

[Rux]

Originally Posted by M5031425

To each their own. I remember John Stockton telling me 15 years ago he only leases cars so the idea that buying is only for rich people just isn't true.

100 percent. I have yet to have an accountant tell me to buy over lease for vehicles such as this. Buying a depreciating asset whose long term value is so uncertain makes
zero financial sense. I don’t consider myself rich but I am certainly not suffering. If i can write the lease off to my business and do something more lucrative with the money i would have spent buying it, to me, makes the most sense. Who knows. The automotive market is so fucked up right now it might be the other way around at some point.


#nextguysproblem


CA has a minimum ins of 5000 bucks? That’s pretty shitty. Not as shitty as some states who do not require it at all…

[Bch53211]

Originally Posted by Needsdecaf

They are going to find out. As soon as your name is in the system, they know. Even if you didn’t file with them.

In your scenario, you have to deal with the other party’s insurance co. Just get yours to deal with it. That’s why you pay them.

Thanks everyone for all the input. I thought of diminished value in terms of my option to buy at the end of lease and sell for any potential profit. I’ve done this on my last three M cars. Leasing a car is not renting, this is obviously an over simplification and inaccurate. I do understand though that at this point I can’t claim diminished value as I don’t own the car. I got word that the other person’s insurance is paying 100% of the repair cost along with my deductible. I’m thankful for this and will move on.

[TopJimmy]

My mistake…you’re leasing.

[BryanCO]

Originally Posted by Gfit

I’ve had a few experiences with this. In these cases since liability is not in doubt I file directly with the other party’s insurance. I never informed my insurance company.

Regarding diminished value, I’m not certain but I don’t think you have a case as you do not own the car and therefore you have no loss. Sure there’s a few what ifs but that’s not actionable as far as I know. That’s why I lease. Always.

Originally Posted by Needsdecaf

They are going to find out. As soon as your name is in the system, they know. Even if you didn’t file with them.

In your scenario, you have to deal with the other party’s insurance co. Just get yours to deal with it. That’s why you pay them.

Agree with this. And, generally, your insurance policy requires that you inform them of the accident.

[Kminor2578]

I feel you pain man. At least they other driver stopped to exchange info. In 2017 the 2nd day I had my F80 some stoned kid rear ended me and took off. I was knew to the DCT so I fought with to get it drive and flew down the shoulder and I lost them.

[Race_Doc11]

Originally Posted by TopJimmy

Pay for it yourself and make sure it’s not reported to Carfax. Just a bumper and paint should be $2K, and way cheaper than car deprecation.

I just claimed this on my F82 and lost both ways.

This can be very costly. My F80 was rear ended but not as bad and yet it did cost $14k the other party insurance paid for it.

[DO444]

You have a lease, and this is the primary reason you have a lease.

Unless you like blowing money.

Take the path of least resistance and get a new car at lease end.

[DO444]

Originally Posted by M5031425

I've both leased and owned.
When you're driving the car they feel the exact same.

When you're thinking about the car abstractly, it feels different. You just don't have the same fear of "something" happening when you lease. It doesn't matter because you don't take the hit.

When you own the car it's scarier.

To each their own. I remember John Stockton telling me 15 years ago he only leases cars so the idea that buying is only for rich people just isn't true.

Actually i’d wager leasing is only for rich or the soon to be poor. Anyone who looks at the numbers is going to buy it if they can, leasing is simply renting. I’ve never bought a car and after 7 years wished I’d leased it.

If you can afford to only keep a car for 3 years and constantly have a ~ $2k car payment forever, then leasing is definitely the best option.