Joined
·
9,501 Posts
I remember a few years ago Clark Howard called a car lease a fleece.
Anyway, depending...that's not necessarily true these days.
OK OK back on topic.
I understand the end of lease residual value (a contracted number established at lease start time) vs. actual value at turn-in issues.
Here's the question: if your lease car is in a bad accident but not totaled and it has been repaired - does the bad carfax report affect the contracted residual value (is there usually fine print in the lease agreement to cover this) ? Seems like it should since the repair history of a repaired car certainly diminishes its value to the dealer that leased it.
Anyway, depending...that's not necessarily true these days.
OK OK back on topic.
I understand the end of lease residual value (a contracted number established at lease start time) vs. actual value at turn-in issues.
Here's the question: if your lease car is in a bad accident but not totaled and it has been repaired - does the bad carfax report affect the contracted residual value (is there usually fine print in the lease agreement to cover this) ? Seems like it should since the repair history of a repaired car certainly diminishes its value to the dealer that leased it.