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you can retain possession of the veh and they will deduct its junk worth from your settlement. depending on state law, you have to then go through a very extensive and well documented repair process to get the thing on the road with a salvage title, which decreases its current and resale value.
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∙ 15y ago
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If your car was badly damaged and your dont want it fixed can you get it totaled?
you can sell int for scrap at a scrap yard.
Who get the money if the car is totaled and the car is on chapter13?
The insurance company will pay the finance company not you.
Who keeps the car if it is totaled you or the insurance company?
You can keep the car if you like, although I'm not sure why you'd want to keep a wrecked car. If you decide to release it to the company, they'll eventually send it to the junkyard.
What happens to a car that's declared totaled by the insurance company?
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the damage), but not collision or comprehensive unless you have the repairs made.
If your car is declared totaled does the car belong to the owner or the insurance company?
The insurance company. They have in theory bought the car or what was left of it.
You own your car it was totaled Should you let the insurance company have it after they pay you?
This depends on what the settlement covers I have required the insurance company to allow me to retain ownership, this reduces the settlement. Or the if you do not specify that this is what you want the insurance company gets the car.
If your car was totaled and the insurance company paid you for it do you get a credit for that on sales tax on your new car?
NO.
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.
Do you have to pay off the car loan if you have totaled the car?
Yes, if your insurance company will not pay it all.
How do you get a car after your vehicle is damaged?
most time if the car was in an accident and is totaled you will have to by it back from your insurance company
Is it legal for your insurance company to deny a loss for a car that was totaled?
It would depend on why the car was totaled and who's fault the accident was and what time of insurance do you have PLPD or Full Coverage
After settling with the insurance company for a totaled car do you keep the car or does the insurance compnay?
Legally, if the company pays you for the totaled vehicle, it belongs to them. You can offer (if they don't) to by the scraps back. This would be deducted from your settlement and you would be paid the difference.
