We suspect that you remember our story about the young woman trying to save her E60 BMW M5 from the manic hooligans during the Vancouver riots that erupted in June after the Canucks lost to the Boston Bruins for the Stanley Cup.
As seen on several videos, the young woman, who was later identified as Jazmin Perez, tried in vain to save her BMW M5 from being destroyed. Perez had parked her car outside a store in downtown Vancouver, and when she returned, she found the mob burning down her V10-powered bimmer “to silver metal” as she told CBC News.
But here's where the story takes another turn for the worst. Believe it or not , Perez will have to pay for the damages on her leased car! That’s because the insurance she had covered only the market value of the car and not the replacement cost. Therefore, she owes thousands more on the lease than the money she received from the insurance company.
“It’s very frustrating, and also very stressful and overwhelming. I had to take time off work, take care of myself because of this incurred loss. I’m trying to seek some sort of help, whether through my MLA or through lawyers," said Perez.
“The insurance company says it’s not their fault either. They feel for me, but at the same time, someone has to pay. And I signed the papers”, Perez added.
Story Sources: CBC News & Youtube , via Autoblog
15 Comments:
the police has the video of those MF who damaged her car, bring them in, make them work with their hands and feet to pay for it, if they don't want to work, then chop off the useless limbs.
They're insane. Each and everyone of them deserves to be in jail. I'm just shocked nobody tried to stop all of that from happening.
I totally agree with the post below. The police has the video and those guilty should be brought to pay for the damage.
After the recent riots in London and the UK, the police were able to identify those from video footage, and thousands appeared in courts charged with looting and rioting.
I expect the Canadian police to DO NOTHING LESS!
Assholes!! Should meet the same fate!!
Insurance of every type has turned into a scam. Here in the states car insurance companies run hundreds of commercials a day costing billions a year, because they're sitting on trillions in cash and assets stolen from consumers. SCAM!!!!!!!!!!!
This whole problem has a lot more to do with lease companies attitude towards customers. Clearly this (selfishly & cheaply run) lease company decided not to purchase a payment protection insurance plan of their own! Hence the need to chase the lessee for outstanding debt value on a now non existing car.
This leasing company could have easily chosen to make either of the following (financially) smart decisions on its contract conditions:
1. Condition in to the lease contract that the lessee is obliged to provide to the lessor an insurance certificate (at renewal) for proof of cover for replacement cost, not market cost. After all the vehicle is still an asset of the lease company and they should in turn be protecting that corporate risk.
2. Purchase a corporate (payment protection) plan covering outstanding replacement costs due to criminal damage of vehicle assets under lease. This way insurance companies are engaged to chase/help the police to track down the SOBs who commit criminal damage with other peoples property. Meanwhile the lessee can still claim the market value insurance sum.
3. Price and condition in to the lease contract a leaser payment protection plan covering replacement cost. Again engaging insurance companies to claw their losses back via criminal damage convictions.
As for Jazmin Perez, she has been caught out by the usually cheaper but deceptive basic insurance plan. With market value rules and any further financial responsibility falling solely on to the leaser, giving no incentives for companies/police to chase criminal damage fines. Maybe this was the only insurance plan she could afford on an M5......
I guess you have to be rich to lease a luxury car too. People should own whatever they can only afford.
Sick car killers! They should burn!!!!
My heart goes out to this women for being brave enough to defend her helpless car.
I've lived in Vancouver, and travel there often. You may expect the police in Van to "DO NOTHING LESS", but I can tell you from bitter experience that your statement is only 2/3rds correct. The Vancouver Police will "DO NOTHING", which is what they usually do. As of this writing there has been some outrage expressed among Vancouver residents that the city authorities have lain only a handful of charges against those involved in the Stanley Cup riots.
Vancouver's a wonderful city, but it grows steadily less wonderful every year. The population in Van is very complacent, and the authorities are complacent, absurdly "PC", and smug. Though it receives scant mention in the media, the crime rate in Vancouver is higher than you would expect. In fact, when petty crimes, property crimes, and muggings are measured, Vancouver makes the "top ten" list of North American cities with a crime problem, right up there with places like Camden and Chicago.
No one who lives there - and pays attention - should have been surprised by the riots, the inadequate preparations by city officials and the police, and the pathetic police response. The failure of the authorities to pursue and prosecute those responsible for the damage is just par for the course, I'm afraid.
In my defense, I say this as someone who really loves the city, and enjoyed living there. I just didn't enjoy having my car and my apartment repeatedly burgled, being accosted by beggars, and stepping over passed-out junkies lying on the sidewalks.
Yeah, Jazmin definitely got screwed here, but by whom? I think if someone at the lease company had held a gun to her head and forced her to sign the lease and insurance documents, she would have mentioned it.
Yes, the lease company is greedy, venal, and self interested - like most companies and businesses. But how is it that over the last decade, seemingly everyone in Europe and the US - especially in the US - has forgotten the old expression "caveat emptor"?
The worst part of it all , is that they were rioting over A FUCKING GAME! Bunch OF LOSERS! Get a grip.
I do agree with some of these posters though, they shoudl get the guys on the footage and make them pay - and yes VERY disappointing so many people there didnt do anything to help them...Sad sad sad
it's not your decision what everyone should own
If this happens here, in bulgaria 1st the insurance companies are real and will pay the whole value of the car even if it's on lease currently and 2nd the police will never allow such a vandalism for so long, specially in the center of the city. The respect from the authorities is big, as it should be everywhere
What builds the mania during the game? These are sport fans who identified with the team. They aren't the athletes. Look at that psychology.
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