if i totaled my car and i haven't finished paying it all the same what happens?
do i catch the car's value anyway and verbs paying it??
Answers: IF The vehicle was totalled, the insurance company would remuneration the lien holder the ACV (actual cash value) of the vehicle.
The insurance company does not cover nouns charges and interest. That is still your responsibility.
For example
If the loan is worth $15,000
And the Car is worth $11,555
You still have to money the remaining $3445.
However. If the loan is less than the ACV, next you get that money.
Ex
The Loan is $11,555
Car is worth $15000
The Bank get the loan amount and you get the remaining $3445.
However since you said your friend is tired of their coup¨¦ and wants to go and get a new one, and you asked just about the vehicle being totalled..... The insurance company will arrest onto your scheme. It is Fraud and you could facade time in put inside.
well im sure the insurance should money off the loan wich should hopefully be lower than the value of the sports car any ways
do i catch the car's value anyway and verbs paying it??
My brother have lost his his broadsheet...
Answers: IF The vehicle was totalled, the insurance company would remuneration the lien holder the ACV (actual cash value) of the vehicle.
The insurance company does not cover nouns charges and interest. That is still your responsibility.
For example
If the loan is worth $15,000
And the Car is worth $11,555
You still have to money the remaining $3445.
However. If the loan is less than the ACV, next you get that money.
Ex
The Loan is $11,555
Car is worth $15000
The Bank get the loan amount and you get the remaining $3445.
However since you said your friend is tired of their coup¨¦ and wants to go and get a new one, and you asked just about the vehicle being totalled..... The insurance company will arrest onto your scheme. It is Fraud and you could facade time in put inside.
well im sure the insurance should money off the loan wich should hopefully be lower than the value of the sports car any ways
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