Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What should I do with this insurance claim and my finance company?
Ok this is a long story. I'm 20 years old, a little over a year ago I desperately needed a new car because mine was fried! It is a 1998 Nissan 200sx. It now has roughly 152,000 miles on it. It runs fine and surprisingly has never given me any trouble and I drive it ~45 miles per day. Anyway, I recently found out that in another state, the car had a salvaged title. On the carfax, for this state under my ownership, it doesn't have a salvaged title. The idiot dealer I bought it from has since then shut down due to "floating titles" around. Apparently MY car's title has been "washed". Well, the other night a deer ran into the road and slammed into my driver door. The damage isn't THAT bad but still pretty ugly. I owe a couple of thousand on this car still. I definitely have to be upside down on it. I have not gone to get an estimate on it yet but I am on Monday. I have no idea what to do. What would you do in this situation? Should I take the insurance money and just drive the car without getting it fixed? Could I have enough damage on the car for it to be totaled? Everything on the car is crappy except for the air and heat and the engine itself. From it being totaled in the other state, the bumper is loose on the front and the fender isn't the exact same color as the rest of the car. This is so crazy. I have a picture of the damage the deer caused, I will have a link at the end of this. Please don't reply with smart @$$ answers. I am really in quite a bind and don't know what to do. If I get a check from my insurance company, what if they make the check out to the shop that is going to fix the car?
3 Answers
- williamLv 410 years agoFavorite Answer
your car is financed so you are still not really the owner till it is paid off. the finance company requires you to have insurance to protect their interest. It may be totaled which means the price of the car is at least 20 per cent more than repairs. get the estimate, then deal with the insurance company and finance company
- Howard LLv 710 years ago
If the car gets totaled the insurance check will be made out to the the bank that holds the lien on the car and you continue to make payments on a car you no longer have until you pay off the balance remaining. If the car isn't totaled the check goes to the shop doing the repair but it will be made out to you and the shop. They don't get paid until you sign the check indicating the repair was done to your satisfaction.
Looking at that picture I doubt that there will be a check. That damage doesn't appear to be enough to meet a $500 deductible. If you haven't yet filed a claim get an estimate to repair before filing one. There's no point in reporting it and having an accident on your insurance record if you're not going to get any money from the insurance company.
- saylesLv 45 years ago
You might obtain the cheque except the coverage informed you which ones storage to take the auto to, on this case the storage might be paid. If the vehicle is a proper off then you definately might obtain the cheque however this won't duvet what's left at the finance because the coverage will simplest pay out what the 'guide' rate of the vehicle is and now not what you paid for it, so that you would be out of pocket, and nonetheless owe the finance enterprise.
