Mr Rameire was in a serious car crash on Tuesday and our car was totalled so I was hoping you guys might be able to help me. He was hurt, but will recover and noone else was involved thankfully!
Ok, so the car is a write-off (still waiting to hear this officially from the insurance, but if they can repair that, then they are miracle workers!!) and we got it on a HP agreement from BOI leasing through the Ford garage. This was taken out in Jan 2010 and has another 2.5 years left. There is €8.5k left on HP/lease and when (and I hope its WHEN) the insurance company pays out, what is the next best course of action:
1. Pay off outstanding lease with chq and start again
2. Keep paying lease as normal and use chq to buy new car outright.
3. Any other suggestions you might have...
I guess the question also is what are we legally obliged to do. Do we need to inform the leasing company of the car being toast?
Thanks in advance for any advice given as he is the one that normally deals with these things!