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 Posted: Mon Oct 03, 2011 8:45 pm Post subject: lender payment |
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is the insurance required in the state of colorado to pay the lender off first before issuing payment on a totalled vehicle? if so what is the relevant statute either wy?
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jennys
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| Posted: Tue Oct 04, 2011 5:52 pm Post subject: |
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Insurance to protect the lender's interest in a vehicle is not a matter of insurance law, it is a matter of CONTRACT LAW. If your purchase contract requires that you obtain coverage on the vehicle to protect the lender, so be it. Your lender is supposed to be named as an additional insured.
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MaxHerr
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| Posted: Thu Oct 27, 2011 1:15 pm Post subject: still have to pay? |
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I totaled my new car, didn't have insurance on it at the time, and it was totaled. The car loan comp. wrote it off as a lost. Do I still have to pay on a car I don't have?
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ep6969ep
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| Posted: Fri Oct 28, 2011 3:55 am Post subject: |
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If you didn't have insurance, You'll have to pay to the lien holder yourself
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anonymous098
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| Posted: Sun Nov 27, 2011 10:04 am Post subject: |
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The trunk of my vehicle was so damaged that I could not close it. Other than that, the car was drivable and in good shape. My insurance company totaled it out and I decided to keep it. If I don't or can't afford to get the trunk fixed at this time, can I still get a tag and title for it? Ga. Girl
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Ga. Girl
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| Posted: Wed Nov 30, 2011 8:04 am Post subject: Options for fixing my car |
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Someone hit my rear bumper and hood.
Is it possible to claim part of the repair to get claim low enough they will not total? It is possible for me to pay labor and claim the parts cost? It is also possible for me to claim bumper and leave off hood damage (fixing that myself)? Please advise what my options are. I want to fix without totaling car out since Salvage Cost are on Par or higher than cost of vehicle. So ... someone hit me, insurance company indicating they are going to take my car (which I want to fix), and the insurance company could then sell car for a profit. Seems like a sham.
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Guest_St_Louis
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| Posted: Sun Dec 04, 2011 11:10 pm Post subject: Saving a total loss |
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| This is for "Guest_St_Louis". Your best bet is to not file a claim unless the car is undrivable, and if you can afford the repairs yourself. There is not much profit in salvaged vehicles unless you are a repair facility equipped to repair them. Even then it is difficult to make any money on a car that's totaled. Make sure to get multiple estimates, and explain your situation. |
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rbrown1450
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| Posted: Wed Dec 07, 2011 4:58 am Post subject: Sales tax on reimbursment??? |
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Can the other persons (Driver who rear ended me) insurance company deduct Minnesota sales tax from the reimbursement amount they are giving me for my vehicle, which they decided is totaled?
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Confused in MINN
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| Posted: Wed Feb 01, 2012 7:46 am Post subject: call was totaled by being keyed up! |
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The estimator said I had 7,126 in damages, and my car has a cash value of 6,566. I was just told that I had to give up my car! What can I do? I feel like I'm being hit over my head or something, this isn't fair at all!
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norm66
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| Posted: Wed Feb 01, 2012 1:31 pm Post subject: |
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| Quote: | | Can the other persons (Driver who rear ended me) insurance company deduct Minnesota sales tax from the reimbursement amount they are giving me for my vehicle, which they decided is totaled? |
No, rather the at-fault party's insurance company will be reimbursing the sales tax amount which you had paid for your car.
| Quote: | | I was just told that I had to give up my car! What can I do? |
You can find out what the salvage value for your totaled car is and offer to buy it off the insurance company. |
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Heller
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| Posted: Thu Mar 08, 2012 7:18 am Post subject: total car |
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What if you don ;t have the title to the car.
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anthony c
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| Posted: Fri Mar 09, 2012 6:54 pm Post subject: |
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If you don't have title? What makes you think you have a claim for damage to something which you do not own? If you are the registered owner, you have an insurable interest, if your vehicle is financed, your lender also has an insurable interest which supersedes your own. If the vehicle is not registered in your name, you have nothing to recover except your own personal damages.
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MaxHerr
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| Posted: Fri Mar 30, 2012 7:09 pm Post subject: salvage title |
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if i buy my car back do i have to give up the title
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yyy
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| Posted: Fri Mar 30, 2012 7:20 pm Post subject: |
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let me start over if i owner retain my car do i have to relinquish my title
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yyy
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| Posted: Fri Mar 30, 2012 8:41 pm Post subject: |
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[let me start over if i owner retain my car do i have to relinquish my title[/quote]
First, read my sig.
You might... depends on the state laws. Some states require the title to be turned in to the state so that it can be changed to a salvage title. Some insurance companies can just send in a letter asking the state to do this. But in the long run the title will be returned to you.
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