Contract hire and insurance

nocturne101 · 03-11-2015, 10:48 AM

Hi all

The 4 series on order is a contract hire via a leasing company and it got me thinking; in the event I write off the car, what will I owe the leasing company? Will it just be the termination payment or the full market value of the car.

I'm looking to sort GAP insurance but not really sure what is going to happen in the event of a write off.

Any thoughts appreciated.

xenon · 03-11-2015, 10:51 AM

You will owe the invoice value + interest less payments made. The leasing company will not accept any circumstance in which they are left holding the baby - that's your job.

03-11-2015, 10:48 AM	#1
nocturne101 Private 2 Rep 53 Posts Drives: 428i M Sport Gran Coupe Join Date: Dec 2009 Location: UK iTrader: (0)	Contract hire and insurance Hi all The 4 series on order is a contract hire via a leasing company and it got me thinking; in the event I write off the car, what will I owe the leasing company? Will it just be the termination payment or the full market value of the car. I'm looking to sort GAP insurance but not really sure what is going to happen in the event of a write off. Any thoughts appreciated.
	Appreciate 0 Tweet Quote

03-11-2015, 10:51 AM	#2
xenon Major General 1397 Rep 8,083 Posts Drives: 2021 G21 330i M-Sport Join Date: Jun 2008 Location: Coventry iTrader: (0)	You will owe the invoice value + interest less payments made. The leasing company will not accept any circumstance in which they are left holding the baby - that's your job. __________________ Ian Current: 2021 G21 330i M-Sport Previous: 2018 A6 Avant S-Line MMI+, 2014 F31 320d M-Sport, 2013 F10 520d M-Sport, 2011 F10 530d M-Sport, 2008 320i M-Sport Coupe, 2002 325i, 2001 318i valvetronic, 1998 318i, 1996 525i, 1990 Porsche 944S2
	Appreciate 0 Quote