answersLogoWhite

0

only if the loan is not satisfied. Sometimes you owe more than what your car is worth. Insurance company's only pay what the value is minus the deductible. This may leave a deficiency balance that has to be paid by you. If you don't pay the balance you will be in default of your loan.

User Avatar

Wiki User

12y ago

Still curious? Ask our experts.

Chat with our AI personalities

BeauBeau
You're doing better than you think!
Chat with Beau
DevinDevin
I've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
RafaRafa
There's no fun in playing it safe. Why not try something a little unhinged?
Chat with Rafa

Add your answer:

Earn +20 pts
Q: Does totaling a car affect your credit?
Write your answer...
Submit
Still have questions?
magnify glass
imp