An Ontario man said he was shocked to be asked to pay $10,000 to a financing company, despite having insurance, after his brand-new Jeep had been stolen.
An Ontario man said he was shocked when he was asked to pay $10,000 to a financing company, despite having insurance, after his brand-new Jeep had been stolen.
Dokaj said he filed a police report and contacted his insurance company, which agreed to give him $61,000 but that he was told. under his lease agreement, his total financial commitment was $71,000."I have to pay the remaining balance of almost $10,000 at this point,” Dokaj said, adding that he doesn’t think he should “have to pay for something that he doesn’t own, doesn’t have and doesn’t use.
“In the event of a total loss like this you could end up upside down or in a negative equity position with respect to what the vehicle is worth and what you’re left owing on that vehicle,” Anne Marie Thomas with IBC said.
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