What happens if your car is total but you're still making payments for it?
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2019 G70 6MT & 2022 Ford Maverick XL
If you owe 14k on it, you should be good. The insurance company will probably pay that for it. They'll pay it straight to the bank that holds the lien, and the debt is resolved. If they pay more than $14k, you'll get the difference.
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2005 c230 KOMPRESSOR
I just spoke to my insurance company and they say it takes atleast 48hrs for them to process all the paper work so i still dont know what im gonna get yet. I just looked at all my old payments and i actually only owe 13k left for the car. Im not looking to expect anything from this but i was wondering if the insurance company know that i only owe 13k left for the car and the car value is still worth more than 13k will they pay me only 13k knowing thats the amount i owe? I dont think the insurance will pay more if they know already that i only owe 13k left, doesnt make much sense? If that was the case, then dont u think they would have just pay the different and fix my car instead? The first bodyshop estimate for my car was close to 7k to fix the damage. Im guessing after the body shop started taking off more parts on my car they found more damage and the estimate went up thats when i got the call from the insurance that they ruled my car a total lost but i still dont think the estimate cost to fix my car is anywhere near 13-14k? I have a feeling the insurance is going to give me a low offer since they refuse to fix my car.
Last edited by WSC230; Jan 4, 2011 at 04:16 PM.
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2019 G70 6MT & 2022 Ford Maverick XL
I just spoke to my insurance company and they say it takes atleast 48hrs for them to process all the paper work so i still dont know what im gonna get yet. I just looked at all my old payments and i actually only owe 13k left for the car. Im not looking to expect anything from this but i was wondering if the insurance company know that i only owe 13k left for the car and the car value is still worth more than 13k will they pay me only 13k knowing thats the amount i owe? I dont think the insurance will pay more if they know already that i only owe 13k left, doesnt make much sense? If that was the case, then dont u think they would have just pay the different and fix my car instead? The first bodyshop estimate for my car was close to 7k to fix the damage. Im guessing after the body shop started taking off more parts on my car they found more damage and the estimate went up thats when i got the call from the insurance that they ruled my car a total lost but i still dont think the estimate cost to fix my car is anywhere near 13-14k? I have a feeling the insurance is going to give me a low offer.
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2005 c230 KOMPRESSOR
Just got off the phone with my insurance and WOW!! they're going to pay me $17,657. Thats almost the same amount when i bought the car. Its a few hundreds less than the price i paid for the car but im totally shock and wasnt expecting this. I was thinking they'll pay me 10k or close to it but i was never expecting this though. I only owe 13k left so that means atleast 4k goes to me? Super excited now and is already looking for my new car , thanks everyone for replying in this thread.
, thanks everyone for replying in this thread.
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From: Diamond Bar, CA
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Just got off the phone with my insurance and WOW!! they're going to pay me $17,657. Thats almost the same amount when i bought the car. Its a few hundreds less than the price i paid for the car but im totally shock and wasnt expecting this. I was thinking they'll pay me 10k or close to it but i was never expecting this though. I only owe 13k left so that means atleast 4k goes to me? Super excited now and is already looking for my new car , thanks everyone for replying in this thread.
, thanks everyone for replying in this thread.
and you'll get a difference of $4k ish back towards your next car.
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From: New Joisey
13 Jeep JKU Sahara w/4" lift Kit & the works,2015 Toyota Sienna XLE,2013 Hyundai Sonata Hybrid
Just got off the phone with my insurance and WOW!! they're going to pay me $17,657. Thats almost the same amount when i bought the car. Its a few hundreds less than the price i paid for the car but im totally shock and wasnt expecting this. I was thinking they'll pay me 10k or close to it but i was never expecting this though. I only owe 13k left so that means atleast 4k goes to me? Super excited now and is already looking for my new car , thanks everyone for replying in this thread.
, thanks everyone for replying in this thread.Cheers and have fun with your search......... one of the benifits to owning a Merc......lololol
thanks to all to have the paitence in answering all the questions and sharing the knoweledge............
Javvy
