by sweetcin211 » Sat Jan 09, 2010 12:30 am
I was recently in an accident that involved no other cars. It bent the front frame of the car. The insurance company is totaling out the car for $4,000 less than what we owe. What should I expect to happen with everything?
Posted: Sat Jan 09, 2010 02:06 am Post Subject:
Everything meaning what? Your payout, the loan?
Posted: Sat Jan 09, 2010 03:08 am Post Subject:
You should expect your carrier to pay the amount they owe (that $4000) to your lien holder in return for the tile. You should expect that your lien holder is going to come to you looking for the remaining balance. The contract for the purchase of the vehicle is between you and your lien holder. It does not change what the carrier owes.
As Lori taught me to always ask... do you have Gap insurance?
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