Why did they expect me to pay next month’s car payment if I got into an accident the month before?

[Anonymous]

[ohsheeT]

A contract is a contract you signed it you said until death do we part or it's paid up that didn't say anything about if you get in a car accident and the car is totaled doesn't mean you have to stop paying on it you own it or you were trying to own it you signed a contract I know it doesn't sound right but it's just the way it is got to read the fine printre-state//background_color_rgba (0, 0, 0, 0), font_color_rgb (77, 77, 77), justifyLeft

[ohsheeT]

So if your car was totaled where I live they don't have anymore insurance adjusters so they just total cars nowadays you go to the junkyard where it's at you buy it and you parted out and you sell everything you can and pay your car off or use that money for a down payment or depending on what's wrong with the car you can fix it

[Asker]

I learned something new I didn’t know that before until I experienced it.

[ohsheeT]

I had to learn the hard way too by the 17th and I bought a Jeep CJ5 and went to outdoor party and one of my friends got bugging me and bugging me he wanted to drive it and I kept saying no no finally I gave in and then probably about 20 minutes to a half hour later I went looking for him and as I was walking down a dirt road I hear this big crash boom and I started running down the road and at the bottom of the hill I see my Jeep and the two guys that were in it were walking towards me
I only had it I think 3 months brand new and it was totaled

Anyway the tow truck driver got there to pull it out of the bottom of the hill and as it almost got to the top the cable the tow truck was using snapped and it went all the way back down the hill again crashing and booming and really totally totally even more. The insurance company totaled it out but I still had to pay for it I bought it for $100 from the insurance company and took it to a friend of mine who does body work while I took it to my friend's dad and they fixed it up it was like new and I think I had it about 3 days and I was going down the road maybe 50 miles per hour and the hood latches snapped and the wind caught the hood and came up slammed against my windshield broke it got it fixed

And then I got it back had it probably 3 days and I'm cruising down the road and I'm going probably 45 miles per hour there's a lady in the center lane in a Volkswagen bug

With her blinker on she's going to cross the road and she could have went anytime but she waited till I was right there and pulled out in front of me going me going 40 to 50 miles per hour and I slam on the brakes and I hit her she was drunk I guess I got rid of that cheap as soon as I got fixed I got rid of it but I still have to pay for it

[Anonymous]

This is why borrowing is bad

Credit free for the past 2 years re-state//background_color_rgba (0, 0, 0, 0), font_color_rgb (77, 77, 77), justifyLeft

[lightbulb27]

If you made a loan to someone for a car and their car was totaled... would you expect to be paid back? of course! Trouble is, you took a risk that they ever do pay you back... that's why some peoples interest rates are supposed to be higher and credit scores can be damaged. That is as far as I know, the result of not paying.

What you can do is contact lender and negotiate in some manner. they won't want to take a "hair cut" on fees they charged and such, but they might. if they think they will take a total loss, something is better than nothing. This is a normal thing to do... to negotiate when surprises occur. The goal is to save your credit, reduce your stress, and get this behind you.

This is a fantastic lesson I will pass onto our kids becuase I dind't even think about this. I NEVER got a loan... I only paid cash else I didn't drive. Maybe I'm fortunate, but I got cheap cars and help from parents.

Stay out of debt, stay away from lenders and bankers... they will rip you off. Mortgages are worse... costing you hundreds of thousands in your life.

So if you can't get past this, then work through it and realize this $10,000 or so just saved you hundreds of thousands. Think of it that way, work your way through it to get this behind you.

Regarding fault.. you had insurance yes? Did it pay enough? Often, it does not because as soon as buy a car... value drops. So total it 1 week after bought... and the insurance often won't pay the full amount (its value)... so you have to negotiate with insurance and possibly pay remainder. you are out a car and $ due to others fault! Welcome to the world and why I think how I do politically:)! A lease is similar.

I had accident not long ago, not my fault... guy kept driving. it happens. I hope you are ok, this makes you safer driver rest of life and improves your life.

Listen to Dave Ramsey show if you lack financial education, to get basics of how to think. is helpful.

[AviatorTom]

The car loan really has nothing to do with the car. You agreed to pay them every month until the loan is paid off. The car is just collateral for the loan. If you stop paying, default on the loan, the bank can repossess the car and sell it to get the money they are owed.

That the car was in an accident has nothing to do with the loan.

[Asker]

Ok but what if you died in a car accident then what do they do about the money?

[AviatorTom]

Legally, they could require your estate to pay off the loan.

[Asker]

I don’t care what anyone says that is a set up if they have it in people’s contracts that they still have to make car payments on a car that is a total loss. They know that people have to get another car which is something that they can drive.

[AviatorTom]

You're not getting it. It's not a setup. The loan is the bank giving you money, which you agree to pay back. You can do whatever you want with the money. The bank doesn't care, so long they get the loan paid back, with interest. You chose to use the money to buy the car, which is meaningless to the bank. The only importance the car has to the bank is as loan collateral... if you don't pay the loan, the bank has the right to repossess your car, sell it, and get their money back.

[Asker]

No you’re not getting it if you think I’m going to pay on a total car that I don’t own anymore that’s why you try to get the car insurance to pay more that is what insurance is there for.

[AviatorTom]

That's why it's important to have car insurance... not everyone does. Unfortunately, the amount of money the insurance gives you for a totaled car is usually less than the amount remaining on the loan. For example, a quick rule of thumb is that, when you first take possession and and drive the car off the dealer lot, its value is already down to 80% of what you just paid for it.

[Asker]

The whole argument is about I don’t want to pay anything at all on a total car and that’s just how I feel.

[EmmaMary]

You are legally responsible for any car payments/loans etc. regardless of your misfortunes which obviously includes accidents etc.

[Asker]

Would you of paid it on a total car?

[EmmaMary]

Absolutely... Regardless of anything it's a legal requirement to do so.

[Asker]

I learned something new even when you’re not at fault that can get you.

[EmmaMary]

Well sadly you've now learnt the hard facts of life... Sorry.

[Asker]

What do they do if you die in the car accident then who pays for it then?

[Anonymous]

Who do you think should pay it?

[msc545]

If the car was insured that should take care of it.

[Opinion Owner]

Only if the car is written off. Insurance isn't there to cover purchase loans.

[Asker]

What makes them to decide to write it off?

[Opinion Owner]

If it's so damaged the cost of repair is higher than the value of the vehicle.

[Asker]

That was my car situation.

[Opinion Owner]

Then use the money the insurance company give you to pay off the car loan

[Asker]

Too late I learned not to sign anything.

[Opinion Owner]

I'm not sure what you expected. If someone lends you money to buy a car, you have to pay them back, no matter what happens to the car. Why should they be out of pocket?

[Asker]

Because it wasn’t my fault of the accident should have been written off.

[Opinion Owner]

So how do the people who lent you money they get their money back?

[Asker]

Don’t you understand I’m not at fault of the car accident that’s just them knowing what they can get away with they try to set you up.

[Opinion Owner]

So who pays the people who lent you the money back? It's not their fault either.

[Asker]

I’m not paying for a total when it’s not my fault I guess I should have demand more before signing.

[Opinion Owner]

So who pays the people who lent you the money? It's not their fault either.

[Asker]

I don’t work with that stuff something that they need to figure out.

[Opinion Owner]

Lol. Have fun.

[msc545]

true.

[exitseven]

whats one thing have to do with the other?

[Asker]

What?

[exitseven]

why would you expect to skip a car payment just because you got in an accident?

[Asker]

So you are going to pay a car payment the month after you’ve been in an accident?

[exitseven]

yes or they will repossess it and trash your credit rating.

[Asker]

Ok go ahead and take their side I’m done.

[Intheclouds00]

Because they don't give a fuck about you

[In_Trance]

because that's the contract you signed