Last updated 2025-05-29
Settle a total loss on a leased vehicle
Steps an estimator performs when settling a total loss on a leased vehicle.
Prerequisites
A leased vehicle with an open or closed lease agreement is deemed a total loss.
When this applies
The total loss must be settled, based on the type of lease agreement with the lessor having the final decision in accepting or rejecting the total loss offer.
The terms of a lease agreement will
- indicate whether the agreement is an open or closed lease agreement, and
- determine how to calculate the vehicle's value.
Important: Refer to the
Lease Company Liston the MD SharePoint site to determine who to contact to discuss the total loss offer.