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Worst case scenario!!! Help!

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Anonymous Poster

Feb 11, 2008, 6:43 PM

Post #1 of 5 (897 views)
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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 profile image

Feb 11, 2008, 8:04 PM

Post #2 of 5 (889 views)
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, 10:01 AM

Post #3 of 5 (884 views)
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,

Long retired now


Feb 12, 2008, 1:09 PM

Post #4 of 5 (881 views)
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 .

Veteran / Moderator
way2old profile image

Feb 12, 2008, 4:33 PM

Post #5 of 5 (876 views)
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

Worst case scenario!!! Help!

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