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PointedThree :  Community forums : Mercedes-Benz Safety and Testimonials : Insurance question

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Insurance question
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Posted 5/26/2006 4:54 PM
markcedes

Date registered: Dec 1899
Location:
Vehicle(s):
Insurance question

How much damage does a car have to be to be "totaled"?
and what hapens if it is totaled and leased?
#16592
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Author
Posted 5/26/2006 6:26 PM
fgwinn

Date registered: Dec 1899
Location:
Vehicle(s):
RE: Insurance question

I would think when the cost of the repairs are higher than value of the car that the insurance company would prefer to settle by writing you a check for the value of the car. In the case of a lease, you could owe the difference between the market value and the residual value, plus all of the lease payments. Unless of course you have some type of gap insurance.

markcedes - 5/26/2006 4:54 PM

How much damage does a car have to be to be "totaled"?
and what hapens if it is totaled and leased?
#16608 - in reply to #16592
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