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If the car was financed, hopefully you aren't upside down in the loan (meaning you owe more than the car was worth). Or it you do, hopefully you have GAP insurance.

If your car was totaled by the insurance company, the insurance company will buy your car from you. The price is determined by other vehicles just like yours with the same miles and in the same condition. These adjusters that come to look at your car and determine a price do the same thing every day year after year. They are pretty quick and efficient in determining your car's value.

Your insurance agent will have you come to the office and sign over the car to them, along with any keys you might have. Depending how much money was owed on the car and how much they bought your car for, they may or may not give you a check. They will definitely give your finance company a check.

Now it's off with you to find another car. Make sure to call your insurance company after you purchase something to update your policy.

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Q: Your car is finaniced and the insurance has totalted it how does that work for you another car?
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