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Yes if the amount your insurance company paid did not cover the amount you still owed on the car. You are still responsible for the difference.

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Q: If your new car was declared a total loss in an accident are you still responsible for paying the finance charges?
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What is the meaning of finance charges IPP?

Finance charges-ipp


Authority of finance manager?

A finance manager is responsible for everyone in the finance department. They are also responsible for creating budgets for the organization.


How is finance charge calculated?

Finance charges are applied to credit card balances that aren't paid before the grace period. Different credit cards calculate finance charges in different ways.


Can a company that is not a finance company charge interest and finance charges to someone it has lent money?

Yes.


What is the journal entry for this transaction Added 460 to mendosa customer balance for finance charges on unpaid balances?

debit finance charges 460credit balance payable 460


Can a interest be charged on a late fee?

No. But what will be charged on a late fee, will be reflected on something known as your your finance charges. Finance charges will go up if you are late making a payment on your credit card.


How do you access AR Finance charges on a Past Due Balance?

Accruing Finance ChargesExample: Invoice = $1000Due Date = 01-OCT-10Interest Rate = 1%Days in Period = 30Accrue Interest = YesYou run the statements or dunning program to calculate finance charges on 31-OCT-10 and get the following results:.01 * $1000 * 30 = $1030As of 31-OCT-10 you have: $10 finance charges (02-OCT to 31-OCT)$1000 invoice$1010*Since you are accruing finance charges, the amount of the finance charge is added to the amount due balance.Compounding Finance ChargesLets you compound the interest that you charge for past due items. If you compound interest, Receivables includes the finance charges that you have previously assessed when calculating finance charges on the outstanding balances of past due items. Use the following example to understand how Receivables compounds interest:Example:Invoice = $1000Due Date = 01-OCT-10Interest Rate = 1%Days in Period = 30Accrue Interest = YesCompound Interest = YesYou run the statements or dunning program to calculate finance charges on 31-OCT-10 and get the following results:.01/30 * $1000 * 30 = $10As of 31-OCT-10 you have:$10 finance charges (02-OCT to 31-OCT)$1000 invoice$1010You run the print statements or dunning letter generate program again on 30-NOV-10 and get the following results:.01/30 * $1010 * 30 = $10.10 finance charges* Since you are compounding finance charges, interest from 01-NOV to 30-NOV is calculated on $1100 i.e. the balance including any previous finance charges.As of 31-OCT-10 you have:$10 finance charges (02-OCT to 31-OCT)$10.10 finance charges (01-NOV to 30-NOV)$1000 invoice$1020.10Note: If Compound Interest had been set to No, finance charges would have been calculated on 1,000 only. If accrue interest had been set to No, then again finance charges would have been calculated on 1,000.


What were the finance charges in month 2?

1.73, apex :)


Who is the chairman of 14th finance commission?

It has NT been declared yet....


I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?

As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.


Who is responsible for budgetary control?

It's the Finance Ministry who is responsible for budgetary control. The Ministry is assisted by Finance Secretary,Central Bank, Planning Commission. But the overall responsibility is bestowned upon the Finance Ministry.


When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?

Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.