My 2023 BMW X4M got stolen recently - I’m still in shock and processing how to move forward.
I have a few questions and would appreciate some feedback.
The car was leased, I only had the car for 5 months (out of a 36 month lease). I put a significant down payment down to lower my monthly costs. Since the car was stolen, would I be able to get the remainder down payment refunded? (Or at least a partial amount).
If my insurance settles the car with BMW and I owe nothing, I’m still down X amount of $$$ from the down payment. That means I either get that down payment money back and put it towards another lease OR I have to take more money out of my account for another down payment on a new car?
Does anyone have any experience or knowledge on this topic? Appreciate all the help…
Yeah but that would imply financial lease. In which ownership and insurance is with the customer. And in that case it would be settled between insurer and customer. Not bmw.
In the case OP provided is operational lease. Basically a car as a service for which you pay a monthly fee and all other costs are just fuel and perhaps a fee for additional miles.