I WOULD LIKE TO KNOW IS IT TRUE AN INSURANCE COMPANY CAN MAKE ME KEEP MY CAR AFTER IT WAS A TOTAL LOSS?
I GOT INTO A CAR ACCIDENT AND MY CAR WAS DECLARED A TOTAL LOSS. THE INSURANCE COMPANY IS TELLING ME THAT I AM RESPONSIBLE FOR THE CAR AND I WANTED TO KNOW IF THATS LEGAL?
ALSO I WANT TO KNOW CAN I APPEAL THE AMOUNT THAT THEY ARE OFFERING ME FOR MY CAR?
WHAT HAPPENDS WHEN A LIEN IS PUT ON A CAR?
I NEED HELP. IM A FIRST TIME CAR BYER.. WITH SOME BAD LUCK!
Answers:
Thats unexpected because my car was declared a total loss and the insurance company wouldn't permit me keep the car. They come to my house and towed it away.
Take a breath, get ready to bid your adjuster back tomorrow. They can't make you 'keep' your totaled saloon. Once it is declared a total loss it must be disposed of through auction or other means. What they are probably telling you is you still owe money on the vehicle and it is worth smaller quantity that the pay-off, meaning, YOU are responsible for paying the difference.
Or.. maybe they made you an proposal and you refused. Then you ARE responsible for the car and any storage fees that may be piling up.
You can with the sole purpose appeal the offer they made you if you can prove the car be worth more than they offered. Remember, any car loses 20% or more of it's value the minute you sign the papers so you are other on the hook for at least that amount.
Just call him/her tomorrow near a list of questions. Don't be afraid to ask for explainations, i.e; how did they arrive at a meaning, how did they determine the car is totaled, etc. Just remain civil and calm and hold an open mind. Remember, auto policies are NOT replacement cost but ACV (actual cash value) policies. Whatever the coup¨¦ was worth prior to the crash is what you are due. Source(s): Claims guy for way too long.
If your car was declared a total loss, the Insurance "buys" your saloon and gives you the book value for it.
They own it consequently and dispose of it.
A lien is a legal contract placed on a car when the owner owes an unpaid amount to "a Mechanic" for example.
From what you story sounds close to, it seems that your car have a Lien on it prior to your accident and you are now wretched with the amount the Insurance is offering you.
They would give you smaller quantity and tell you to keep it if you owed money on it to someone else (the Lien).
The personality or Company that put the Lien on it has done so, so you can not sell it or profit from it until they are salaried.
Related Questions:
ALSO I WANT TO KNOW CAN I APPEAL THE AMOUNT THAT THEY ARE OFFERING ME FOR MY CAR?
WHAT HAPPENDS WHEN A LIEN IS PUT ON A CAR?
I NEED HELP. IM A FIRST TIME CAR BYER.. WITH SOME BAD LUCK!
Answers:
Thats unexpected because my car was declared a total loss and the insurance company wouldn't permit me keep the car. They come to my house and towed it away.
Take a breath, get ready to bid your adjuster back tomorrow. They can't make you 'keep' your totaled saloon. Once it is declared a total loss it must be disposed of through auction or other means. What they are probably telling you is you still owe money on the vehicle and it is worth smaller quantity that the pay-off, meaning, YOU are responsible for paying the difference.
Or.. maybe they made you an proposal and you refused. Then you ARE responsible for the car and any storage fees that may be piling up.
You can with the sole purpose appeal the offer they made you if you can prove the car be worth more than they offered. Remember, any car loses 20% or more of it's value the minute you sign the papers so you are other on the hook for at least that amount.
Just call him/her tomorrow near a list of questions. Don't be afraid to ask for explainations, i.e; how did they arrive at a meaning, how did they determine the car is totaled, etc. Just remain civil and calm and hold an open mind. Remember, auto policies are NOT replacement cost but ACV (actual cash value) policies. Whatever the coup¨¦ was worth prior to the crash is what you are due. Source(s): Claims guy for way too long.
If your car was declared a total loss, the Insurance "buys" your saloon and gives you the book value for it.
They own it consequently and dispose of it.
A lien is a legal contract placed on a car when the owner owes an unpaid amount to "a Mechanic" for example.
From what you story sounds close to, it seems that your car have a Lien on it prior to your accident and you are now wretched with the amount the Insurance is offering you.
They would give you smaller quantity and tell you to keep it if you owed money on it to someone else (the Lien).
The personality or Company that put the Lien on it has done so, so you can not sell it or profit from it until they are salaried.
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