Got rear ended thought i could just get my car fixed i owe $6,000 on it i called the other company they want to give the lien holder $4300 the value of the car this means i still owe 1700 and have no car because of course the insurance company wants it the car is very driveable and not much damage at all that i can see is there a way for me to keep the car and still pay on it with the damage or otherwise i'm out $1700 and no car and aweful credit to get another car does any one know any thing about a total loss car?
2007-03-27 09:55:41 · 9 answers · asked by markymarky23 1 in Cars & Transportation ➔ Insurance & Registration
not their problem , it's your , because the co. has this right not to pay for what you owe, just the book value of the car at the time of the accedent , sorry about your loss.
2007-03-27 10:07:33 · answer #1 · answered by jim m 7 · 1⤊ 1⤋
in my state the other company has no obligation to anyone except you. this all changes if its a total loss because then they want the title and here comes the leinholder. Lots of questions here, but how much do they value the salvage at? I would tell them to settle as , NOT A TOTAL LOSS , and let you keep the car and then they should give you a nice check. send that money to ;the leinholder and drive the wrecked car. the leinholder, etc, is none of the other companies business unless its a total loss. good luck. I wish I could talk to you but since not possible, double check all the figures, get a little lower estimate somewhere so it wont be a total loss. How much over the repairable figure are you? This is one of those cases where people are forced to claim injuries to have some leverage. I assume you were'nt.
2007-03-27 11:22:26 · answer #2 · answered by expertless 5 · 0⤊ 1⤋
Since you have a loan I will assume you have your own collision coverage. If you have not already done so, get an offer from your company and see how that compares to the other offer.
"Keeping the salvage" may be an option (depending on what state you are in.) If you "buy back" the totaled car you teh company will deduct a salvage value from the Actual Cash Value (ACV) that they are paying you. You could then drive the car the way it is if it is safe to do so or you could try to get it repaired using aftermarket or used parts to save on the cost.
If your state allows you to buy back the salvage you might end up with a salvage branded title which isn't going to make your bank very happy.
If you haven't done so, I strongly suggest that you discuss your options with the bank since they are legally a co-owner of the vehicle with you.
2007-03-28 02:54:29 · answer #3 · answered by fighting saints 6 · 0⤊ 1⤋
First off.. people are going to tell you they are doing somethign wrong... you do realize taht since they are paying you actual cash value of the car.. it is their right to keep the car right? (since they are paying for it) Its not their fault you owe more then you should for your loan.
in SOME states.. and some states only.. you can "buy the car back" from insurance.. meaning they will pay less then they are offering now and you can keep the car. But usually you end up with a salvage title which really sucks b/c it will be unsafe and you will never be able to resell it.
Why dont you accept the amount... and get a new car and just add that amount you owe to the new car?
and next time dont get upside down in your loan and you wont be in this situation!
2007-03-27 10:16:19 · answer #4 · answered by la428282 6 · 1⤊ 3⤋
I would contact MY insurance company. Do they know what is going on? They should be able to help you, I don't have any answers sorry.
But since you were in an accident your insurance company should be involved either way, your fault or not. Either way they should be able to give you a better understanding of the situation and what choices you have, I think you do have a few choices but you need to understand what they all mean. Like if you buy back your salvaged vehicle as stated above.
I wouldn't want that deal either! Again, I think your insurance company can do a little fighting for you, that's sorta their job, if you haven't already talked to them. It wont affect your insurance rates at all if it was someone elses fault.
2007-03-27 10:05:30 · answer #5 · answered by starwings20 5 · 2⤊ 2⤋
Well first off in response to an other persons answer above, the other party would not have to pay a ded to have your veh fixed. There liability coverage would handle it.. I would recommend filing with your insurance comp because usally if the veh is totaled then they will offer to pay lien holder, but from what you stating its not. So best advice would be to file with your own insurance, and let them subrogate against other partys insurance. It sounds like they want to get your veh, then turn around, and sell it, to make some of there money back on it..
2007-03-27 12:46:30 · answer #6 · answered by D.L. 4 · 0⤊ 2⤋
Yes, there will be a "salvage value", you can pay the insurance company that amount and keep the car.
Salvage value is basically the amount of money the insurance company could sell the car for at an auto auction.
2007-03-27 10:02:48 · answer #7 · answered by shmigs 3 · 1⤊ 2⤋
Now you know why I hate tailgaters, all I drive are cars that because of their age a mere ding would result in huge hassles with these people at the Insco, the best I can recommend when they start with this tailgating crap is increase your own following distance, I like mine to be around 6-8 seconds, BIG ole gap in front of me.
Some get even closer, now if there's room for them to pass, I got to where I'll pull off to let these runaround sue's go.
2007-03-27 10:20:07 · answer #8 · answered by netthiefx 5 · 0⤊ 1⤋
If you got rear ended you should get a free rental car, and the people who rear ended you should have to pay a 250-500 dollar deductable to have your car fixed. Get a lawyer or call your insurance company and tell them your upset.
2007-03-27 10:04:45 · answer #9 · answered by tsumavoc 2 · 0⤊ 4⤋