??'s re: A leased vehicle that was totalled?

[JoyG]

My van was involved in a freak accident while it was parked today. I don't know all the details but seems like something really big and metal swung off a really big truck and slammed into our van. It hit it so hard it pushed the van out of it's parking spot and up on to the curb. (no one was hurt and no one was in the car).

There's a lot of damage to the van and we're not sure if it will be considered a total loss by our insurance company.

Here's the question...we were leasing this van with intentions to buy b/c we were soooo over on the miles. If this car is considered totalled, I know we won't have to pay the remaining payments on the lease, but what about the miles overage? Will we have to pay for the overage of miles? The worst case scenerio is if we have to pay for the miles and not have a car. We're talking about thousands of dollars in mileage overage...that's why we had planned to buy the vehicle.

The van is with GMAC in case that helps. Anyone have any experience with this?

Thanks
Joy

 

[cynsaun]

If you have GAAP insurance, that should cover the vehicle being totaled. Check your lease.

I'm glad no one was hurt!

 

[Robinrs]

I had a "walk away" lease on my Honda, a piece of paper I signed and didn't even realize it until it was TOTALLED 6 months after I leased it. Check your paperwork and check the information about the miles. I was blessed because I didn't owe because of overage but was a few miles from it!