I have a 2003 Galant is been to an accident and is more to fixed that for the insurance to pay the car but they want to fixed, I need to know the % in NJ for the insurance to pay the bank.
2006-08-30 18:23:31 · 2 answers · asked by FRANK Z 1 in Cars & Transportation ➔ Safety
It's not set in law, it's up to the insurance company. Generally if repair costs are more than 80% of the book value they'll total it. If the insurance company is fixing your car, obviously the cost of repairs are less than book value.
It's not your call, it's up to the insurance company.
2006-08-30 18:44:57 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
aoutpac has the bookes to follow and if they write it off the bank gets payed first extra money will go to u but if u oue more then they pay the bank u havta make arrangements to pay the balance to the bank and yes u may havta pay untill the load is cleared off but if ur credit is good bank will give u another loan to buy new wheels
2006-08-31 07:25:37 · answer #2 · answered by drvshaftdrew 4 · 0⤊ 0⤋