2006-12-06 12:49:58 · 10 answers · asked by mkgjeo 2 in Cars & Transportation ➔ Buying & Selling
no , in most cases you will get blue book price , the best you can do is haggle with inc people pick a car you want at reason tell them and hope for the best, now if you not at fault the odds are good to get what you want they don't want to be sued you pick out the car tell them the price and haggle you might get what you want
2006-12-06 12:58:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
MSRP has nothing to do with it. If they total your vehicle, they will give you it's actual value at the time of loss, adjusted for condition. Not replacement value, and they could care less about your down payment of payments. If you wind up still owing money to the lender after the claim is settled you will get nothing and still owe the remaining balance. You can buy GAP or VSI (vendors single interest) insurance to eliminate that problem. If you didn't, you will probably be left with a balance.
2006-12-06 20:56:59 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
It depends on the age of the vehicle.
Once it's totalled the insurance will payout current market value, not MSRP. You usually end up in the hole if the car is less than 18 months old.
That's the reason they try to sell you gap insurance.
2006-12-06 20:53:01 · answer #3 · answered by Shockey Monkey 5 · 0⤊ 0⤋
Nope, not necessarily. We had a car 8 months, and high interest rate....and the price after being totalled didn't even cover what we owed on the remaining note. Our insurance company GMAC called 3 locations near us, asked what that type of car sold for, and took the average and that is what we were paid for our car. We were over $2,000 short. Good luck.....
2006-12-06 20:53:51 · answer #4 · answered by donnabellekc 5 · 0⤊ 0⤋
Will what cover the down payment? Insurance? Depending on the type of coverage you have, the insurance will replace with like kind and quality.
2006-12-06 20:56:50 · answer #5 · answered by astroidiot 1 · 0⤊ 0⤋
when the car is totaled the insurance merely pays the value of the car. If there is a note on the car...the insurance pays that first...then you get the remainder.
2006-12-06 20:52:19 · answer #6 · answered by Kenneth S 5 · 0⤊ 0⤋
I think you are talking about having gap insurance. This takes care of the 'gap' in the cost of replacing your car. If you paid 20k for a new car , it is worth 18k when you drive it home. If you total it tomorrow, the gap ins. takes care of that depreciation.
2006-12-06 20:54:00 · answer #7 · answered by Papa John 6 · 0⤊ 0⤋
What you have invested and what the insurance company will pay has nothing to do with each other.
2006-12-06 21:41:32 · answer #8 · answered by 1diputs 4 · 0⤊ 0⤋
well that depends on the car and your insurance deductible if the cars blue book shows 4900.00 and the deductible is 500.00 you would get 4400.00 so it depends on the car and insurance
2006-12-06 20:55:32 · answer #9 · answered by Calvin C 1 · 0⤊ 0⤋
>It will (almost) cover the present value of the vehicle.<
2006-12-06 20:52:28 · answer #10 · answered by Druid 6 · 1⤊ 0⤋