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Your car was totaled in an accident while parked the other driver is at fault you are upside down in your car loan so the payout goes to your lienholder How do you get another car who is liable?
a fast car that you race with
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.
When your car is totaled if you take that money and buy another car do you have to pay the sales tax?
Yes. However, the interest payout is not income, so you don't have to pay income tax on it.
If your loaner car was totaled and you do not have insurance what should you do?
get a good job............you will (assuming you are at fault for this loss) be require to pay for the totaled vehicle.........
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.
How much is your car worth if it is totaled 2004 Chevy cavaliar with 156000 miles?
That depends on how much damage has been done to the car.
Does liability insurance get you money for a car if your car is totaled?
The other parties liability should if it was their fault. Your liability should cover the vehicle you damaged.
How much damage does there have to be to classify a car as totaled?
Usually over half the price of what ever the car is in blue book.
If your car has been totaled but you bought it back and had it repaired is it true that it can never be totaled again?
It can be totaled again but payout will be much less, typically 50% of the value of a comparabe clean-titled car plus credit for any upgrades you've done and can prove with receipts (keyless entry, new brakes, new alternator). It's subjective so make sure you know the value of your car with a clean tile (check out kbb.com and nada.com to get an idea but be prepared to peruse the local classifieds as back up) as your insurance co. will likely lowball you! Bear in mind that a refurbished previously totaled vehicle is considered a " Grey Market " vehicle. if it gets totalled again you will receive much less compensation as grey market vehicles have a low market value
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?
How much do you get if your car is totaled?
You will get the book value of the car. You will get what the car was worth before the crash. Any previous damage will affect the cars value.
How much do repairs have to cost for the car to be considered totaled?
When the damage is more than the bluebook value.
