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If you owe on the car, you will still have to make your payments. Also, depending on your coverage your insurance company can pay off the car and give you something for another. But, it won't be much since they will only pay the low Kelley blue book.
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∙ 16y ago
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What happens if you have no insurance and you totaled your car?
you will have to pay a debt and GET CAR INSURANCE
What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the owner. Others sell the totaled car to a salvage yard.
What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What happens if car is totaled in chapter 13 but no claim was filed for the car?
A car is not totaled in a chapter 13. A car may be totaled while the owner is in a chapter 13. If the car was fully exempted, nothing happens. If you need to buy a new car, you will have to get permission from the bankruptcy court after you file a specific purchase agreement (car loan) which should not seriously affect your plan payments. Why are you not asking your lawyer?
What happens after your car is totaled and you only have liability?
If a car is totaled in an accident and only liability insurance is present, there is a chance that the other party's insurance will pay for the vehicle if the accident was their fault. If a car is totaled, but no others were involved, then the responsibility falls on the registered owner. This will not release the registered owner from paying for the vehicle, either, if money is still owed on the car.
Will you owe taxes on a totaled car?
Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.
What happens your car is totaled?
If you have the proper insurance or you were hit by someone you will surrender the car and the title to the insurance company and they will pay you the actual cash value of the car before it was hit.
What happens when someone not on your insurance drives your car leaves the keys in the ignition and your car is stolen will the insurece company pay if my car is totaled or can they refuse to pay?
Read your policy.
What happens when you total a lease car?
When a lease car is totaled, the car company will require the car lessee to pay the lease balance to get out of the contract. This is applicable for a wrecked car and non-reparable vehicle.
What happens if your car is totaled and you have full coverage?
You will get actual cash value for the car and will sign the title and car over to the insurance company, unless you wish to buy it back for a reduced payout.
How do you finance buying back a totaled car?
Home equity loan perhaps. No bank is going to finance a totaled car.
What happens if the car is fully insured but the driver is not and the car is hit and totaled?
The person who hit the car, if "at fault" would be responsible. If the person driving your car was the one at fault, then it would be your insurance that would have to cover it.
