Main IndexAuto Repair Home Search Posts SEARCH
POSTS
Who's Online WHO'S
ONLINE
Log in LOG
IN









Worst case scenario!!! Help!


  Email This Post



robyn
Anonymous Poster
robynchild12@yahoo.com

Feb 11, 2008, 8:43 PM

Post #1 of 5 (604 views)
Shortcut
post icon Worst case scenario!!! Help! Sign In

So, i'm in this predicament.

I got into a car accident in December and i didn't have collision on my 06 Suzuki Forenza so my insurance won't do a thing. And I can't sue because i was making a left hand turn.

I owe, $15 grand on the car, the damage is on the passenger side, the frame is bent, the doors are trash. When the other car hit me i went up on the curb, popping my driver tire, so i'm sure the front axle is all cranked. The engine is fine, unscathed, its drivable but no way legal or recommended.

IF the car is repossessed it goes on my credit, but i don't want that, and do i still owe? I'm not paying for a car i can't drive. I was thinking about junking it but that won't really be enough for anything close to the amount left on the loan. I have Gap insurance but no one has settled on my claim yet, so i don't know if anyone is gonna pay any money for the gap insurance to kick in.

What are my options? Do i have any or am i just screwed?


DrElectrics
Enthusiast
DrElectrics profile image

Feb 11, 2008, 10:04 PM

Post #2 of 5 (596 views)
Shortcut
post icon Re: Worst case scenario!!! Help! [In reply to] Sign In

I don't know much about American Insurance...But as a sort of gauge, all I can offer is this.

In Australia - Within our registration is a clause called COMPULSARY THIRD PARTY This means that if we crash into someone we are automatically covered through registration.

Your Situation - Are you sure you cannot sue? Were you in the wrong? If the car is repossessed, they will sell the vehicle and you will still have to pay for the remaining balance. This is a hard one. I would seek legal advice on your options.


Tom Greenleaf
Ultimate Carjunky / Moderator
Tom Greenleaf profile image

Feb 12, 2008, 12:01 PM

Post #3 of 5 (591 views)
Shortcut
Re: Worst case scenario!!! Help! [In reply to] Sign In

Not sure what this "gap" insurance is?? Every state I know of you don't really own the vehicle till the last buck is paid and I can't think of a lender who would loan $$ unless it was covered for any type of loss except for intentional.

In essense you have damaged someone else's property that if reposessed wouldn't be worth the amount owed right now and you would be responsible for the difference,

T
_________________________________________
Long retired now


Lando10101
User

Feb 12, 2008, 3:09 PM

Post #4 of 5 (588 views)
Shortcut
Re: Worst case scenario!!! Help! [In reply to] Sign In

Wow never heard of a dealership allowing a car that new to not have full coverage . I would talk to them bet you they will find someway to make things work out .


way2old
Veteran / Moderator
way2old profile image

Feb 12, 2008, 6:33 PM

Post #5 of 5 (583 views)
Shortcut
Re: Worst case scenario!!! Help! [In reply to] Sign In

That is what the GAP insurance is for. The value of the vehicle is less than the payoff and therefore you can purchase insurance to pay the difference so you don't have to pay out of your pocket. All you are out is the deductible.



Being way2old is why I need help from younger minds




Advertising


  Email This Post
 
 






Latest Forum Post

I will try and be as clear as I can. 1999 Fleetwood tioga (ford e350) I turn my ...


I have a 2006 Nissan maxima 3.5 There is nothing wrong with it but I was wonde...


blower motor did not work i pulled it out and tested it it worked i put it back...


So I have a 1999 ford escort zx2 it has the 2.0 i4 doc engine with the 5 speed t...


Hope everyone is doing well. Now that work has slowed down I decided to take a l...


I have a 91 Chevy pick up with a 4.3l v6 and 180,000 miles everything is origina...


Feed Button






Automotive Forum Categories
AC Auto Repair
Auto Body Repair
Auto Insurance
Automotive Repair
Automotive Wiring
Automotive World
Brake Systems
Car Care Tips
Car Racing
Car Shows and Events
Car Stereo Repair
Car Troubleshooting
Engine and Car Noises
Engine Fault Codes
Engine Troubleshooting
Exhaust System Repair
Gasoline and Motor Oils
General Discussions
Motor Vehicle Inspection
Motorcycle ATV Repairs
Motorcycle Body Repair
Motorcycle Clutch Repair
Motorcycle Engine Repair
Motorcycle Repair
Motorcycle Seat Repair
Remote Control Cars
Steering and Suspension
The Bargin Bin
Traffic Ticket Help
Tricks of the Trade
Truck Repair
Truck Repair Advice
Truck Engine Repair
Truck Suspension Repair
Car Forum - Sitemap


Search for (options) Privacy