Possibly, but on a leased vehicle the leasing company owns the car, so it may also have a claim to the lost value. Start by reading your lease to see who has the right to pursue it, then document the loss either way.
The lessor holds title. Many leases address accident damage, and some say who can pursue claims for lost value. If the lease is silent, ask the leasing company in writing.
At lease end, a vehicle with an accident history may be valued lower, and if you planned to buy it out, its resale value matters to you. Your lease terms decide how that affects you.
If another driver was at fault, open the claim with their insurer and keep the leasing company informed. Keep the repair invoice and photos. A documented appraisal helps whoever pursues the claim.
Lease contracts vary a lot. If the lease and the claim conflict, talk to a Virginia attorney.
Three sides to every claim. I've worked all of them. Geoffrey C. Albach has spent 33 years in the industry as an independent appraiser, a former insurance staff adjuster, and a collision repair operations director.
By Geoffrey C. Albach, independent auto damage appraiser · About Geoff
Related guides: Diminished value claims in Virginia · First-Party vs. Third-Party Insurance Claims Explained · How Is Diminished Value Calculated? · All guides
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Possibly. The leasing company owns the vehicle, so check your lease to see who has the right to pursue it.
Usually yes. Most leases require it. Check your lease terms.
It can affect the vehicle's market value, which matters if you plan to buy it out.
General information, not legal advice. Talk to a Virginia attorney about your specific claim.
Call or text Geoff at 434-665-6059. Lynchburg, VA.
