Automotive

Lease - Replacement cost insurance

  • Last Updated:
  • Sep 12th, 2020 8:42 pm
[OP]
Member
Nov 23, 2001
497 posts
64 upvotes

Lease - Replacement cost insurance

Hello all
I had an accident a couple of weeks ago. Car is a total loss. The estimate of repairs is around 37k and the car is valued at 28k (Audi A4 2018).
I had the replacement cost insurance so I'm supposed to get the value of a new A4 2021 (Komfort plus convenience package) with similar options as mine minus whatever is negotiated with the leaser for the price of the vehicule.
VW Credit accepted the insurance estimate of 28k. The insurance agent contracted me to tell me that a new car has been estimated at 48k. Thus I would receive a 20k check (48k minus 28k that is payed directly to VW credit).
1) question: Do I accept at face value that the price of a new car is 48k? Or do I have to go get estimates from different dealership? I would have done it if the car was mine but as a lease I don't know.
2) What happens to the taxes? Do they have to pay me 20k+tx?
Knowing insurances, I just wanted to make sure there is not gotcha here.
Note: A4 2021 Komfort + convenience package MSRP is 46k on Audi.ca
1 reply
Deal Fanatic
User avatar
Jul 26, 2007
5133 posts
2730 upvotes
Toronto
Umm.. you getting free $20k cheque sent to you directly. Accept that immediately and run. At your leisure, lease or purchase another car. Doesn't have to be an Audi since they aren't sending the extra $20k to them on top of $28k that's already given.

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