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Accident and Repairs

Discussion in 'Model X' started by zackmilo, Jun 8, 2017.

  1. zackmilo

    zackmilo Professional moron

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    Surprised I haven't seen your X driving around LA.
     
  2. rjdoc74

    rjdoc74 Member

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    You probably have lol. There SO MANY MX around here. I dropped off my son at school Monday and saw FIVE MX back to back in drop off line. Please don't give MX a second look around here (well, maybe after Stealth wrap!)
     
    • Like x 1
  3. rjdoc74

    rjdoc74 Member

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    They do work, I like them. Sometimes I don't use AC, just seat ventilation. I am more happy about having active spoiler actually. IMHO, it looks so much better on MX. I really don't like the fixed one.
     
  4. zackmilo

    zackmilo Professional moron

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    Same. In our carpool line there is 4 black ones and a white 60D. It is crazy.
     
  5. MP3Mike

    MP3Mike Well-Known Member

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    Unless the lease terms have changed recently you completely lose the $7,500 tax credit, assuming that you qualify for it, if you buy the car at the end of the lease. (You get lower payments during the lease, but then you pay it all back at the end.)
     
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  6. zackmilo

    zackmilo Professional moron

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    :(
     
  7. Nerdy_Engineer

    Nerdy_Engineer Brett - The Nerdy Engineer

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    Yes, last year when I bought my Model X, that's how the leases were structured too. I'm not sure if it has changed since then, but if you're considering buying the car at the end, then you should definitely research to see if that's still the case. It would suck to lose out on the $7500 federal tax credit!
     
  8. rjdoc74

    rjdoc74 Member

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    I believe this is correct. Leasing bank receives the tax credit and it's built in into the lease price. I researched this when I leased my Volt few years ago.
     
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  9. MP3Mike

    MP3Mike Well-Known Member

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    One way to look at it is that if you go with a purchase, instead of a 3-year lease, is that the $7,500 tax credit reduces your monthly purchase payment by $208. (And possibly even more since you can invest that $7,500 to get some return on it over the 3 years.)
     
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  10. MXWing

    MXWing Well-Known Member

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    The $7,500 is 100% baked into lowering the lease payments.
     
  11. MP3Mike

    MP3Mike Well-Known Member

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    By increasing the residual value.
     
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  12. Nerdy_Engineer

    Nerdy_Engineer Brett - The Nerdy Engineer

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    That's the key from what I remember. Since they increase the residual value by the $7500 to lower your payments, then if you decide to buy the car at the end of the lease, you have to pay $7500 more. And therefore you're paying back the $7500 tax credit.
     
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  13. zackmilo

    zackmilo Professional moron

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    Called body shop. $48,000 OF DAMAGE. He said they will total it 99%. Insurance is waiting on price verification from tesla.
     
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  14. zackmilo

    zackmilo Professional moron

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    in the unlikely circumstance they won't total it. There will be $48k of damage. I want a model x rental. (AT LEAST 120/day) for 135 days (4.5 months how long it will take). $16,200. We want $10k+ in accelerated depreciation and diminished value. They will have to pay at least 5 monthly payments. $5445. This adds up to $79,645. TOTALED!!!!!
    It is totaled because to total repairs should be 70% of value. 70% of value of $63,663 is $44564. It is fair condition because there was frame damage and major bodywork that would be needed.
     

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  15. MP3Mike

    MP3Mike Well-Known Member

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    They would never have to make your payments. Them providing you a rental covers your transportation needs, but you still have to make the payments on your own car. (Otherwise you are getting benefit from the accident payments.)

    Fair market value is calculated based on what your car was worth before the accident. So unless the frame/body was damaged, and repaired, from a prior accident that doesn't count against the value of your car.
     
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  16. TJtv

    TJtv Member

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    Why would they have to pay your monthly payments AND the 130/day for rental vehicle? That makes no sense.
     
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  17. zackmilo

    zackmilo Professional moron

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    Oops, that was my mistake. The value is: $69,742. 70% of that is $48,819. We will then do what I said above. Sue for diminished value and that stuff for $10k and then they have to pay for rental car. $16,400 for a model X or for a normal car in case they won't at $55/day. $7425
    I think it is still totaled. New total estimate.
    $74,400 for Model X loaner at $120/day.
    $65,425 for regular rental at $55/day
     

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  18. zackmilo

    zackmilo Professional moron

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    What do you guys think. Totaled?
     
  19. MP3Mike

    MP3Mike Well-Known Member

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    Most likely. Especially since there is always hidden damage that you don't find until it gets all torn down.
     
  20. zackmilo

    zackmilo Professional moron

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    There is a lot of frame damage (front and rear) and a lot of components internally that are broken.
     

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