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If you've got full coverage insurance, make a claim. They should take over payments. You'll be car-less, but won't owe anymore.
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∙ 14y ago
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If your car is totaled and you still owe for your car do you have to still pay for it?
Hell yea
If you dented another car and then that car is totaled in a separate accident before reapirs are made do you still owe for the dent?
Yes - you still owe for the dent.
Will you owe taxes on a totaled car?
Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.
What are your options when you have totaled an uninsured car that you still owe A LOT of money on and you need a car to get to work still?
Make another loan-quick before the wrecked car loan goes bad.
If your car is out for repo but has been totaled in a car accident are you still repsonsible for the payments or will the insurance company pay off?
Your insurance will only pay off what the blue book value of the car is, whether that's enought to pay off the vehicle is unknown to me. If you owe $7k and insurance says the car is worth $5k you owe the $2k difference.
What happens when your car is totaled?
If you owe on the car, you will still have to make your payments. Also, depending on your coverage your insurance company can pay off the car and give you something for another. But, it won't be much since they will only pay the low Kelley blue book.
What is meant by Texas gap car insurance?
GAP insurance stands for guaranteed auto protection. It covers the total amount you owe on your car in if it is totaled. Regular insurance only pays for the value of your car which can be a lot less then what you owe.
If you totaled your car while drinking will your insurance still cover it?
No, they will not.
Should you return a used car that has been totaled to the lender if you still owe two payments on the loan?
Returning the car to the lender will not relieve the borrower of the legal responsibility to pay the debt. The balance of the loan and any additional fees is still owed on the vehicle and is valid and collectible.
When you should stop paying the bank for the monthly payment of your new car after totaled?
Unless you had insurance that covered the difference between what was owed and the value of the car--and paid it to the bank--you are still liable to pay off the loan. The amount you owe is not based on the relative state of the car.
How do you get rid of a car on which you still owe money?
Sell it privately for what you owe on it.
If your car was totaled will the check come in your name if there is a lien on it and you released the car to the insurance company?
Loan company gets paid first if you owe more then the insurancwe pays you owe the balance, if insurance pays more then loan you get the differance.
