What to do if I was in a car accident for which the other driver was ticketed for running a stop sign?
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What to do if I was in a car accident for which the other driver was ticketed for running a stop sign?
I had a leased car that was 6 months old. My car was totaled so l had to get new one (same car). I had to re-lease with a new down payment of $2660. Can I get the down payment back because I need to be made whole?
Asked on November 20, 2013 under Accident Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
You are not necessarily entitled to be made whole; you are entitled to the then-fair-market value (e.g. "blue book" value) of the totalled car.; you can't get more than the car was actually worth, since the other party is not obligated to pay more than the actual value of the destroyed property. Since cars depreciate, or lose value, fast, and since there are costs, other than the actual car's cost, in buying or leasing, this generally means that if thhe totalled car was new, you will come out behind, since receiving fair market value will not make you whole for all the costs in getting a new car.
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