0
I had no car insurance and the car is now totaled and I still owe on the loan do I have to repay the full amount or can I set up arrangements to pay a lesser amount?
Wiki User
∙ 15y ago
When you got the loan, the company which you took out the loan with paid the full sum to the car dealer.
They need to be repaid that sum.
Your arrangement was that you would pay a certain amount each month/week, and they would probably see no reason why you should pay them less. They entered into an agreement with you, and will probably expect you to keep to the terms of it.
Depending on how long is left until the loan, at present rates, would be repaid - they might agree to settle for lower payments for a longer period.... but I would be sceptical that they would settle for lower payments for the same period.
The best thing to do is - using a phone which they would not be able to connect to your name, ring them and ask. Make a note of any person's name that you speak to, especially if they make an offer which you think might be acceptable. They will probably be prepared to talk about extending the period, and you have nothing to lose by asking anonymously.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How does insurance determine the amount they pay you when your vehicle is totaled in an accident that was not your fault?
Regardless of fault, insurance companies determine that the car is totaled (in my experience) when the damage to the vehicle is estimated at a higher cost than the vehicle Suggested Retail Value, according to Kelly Blue Book. It's important to look at the Suggested Retail Value (the representative of dealers' asking prices for that car currently - NOT the Trade-in value - the trade-in will be a lesser value, both to meet when determining if the car is totaled and to receive when your car is taken by the company. So for example, I had a Hyundai Elantra, totalled by a friend in a one-car-accident completely his fault. The blue book value of the car (in best condition - they will never know it was not before it was totaled) was about $9600 Sugg Retail in 2006. I received $10,500 which also included towing and alt. transportation. I also got to pay for the telephone pole and restaurant sign he tore down...which leads into now the only person driving it is me (but this is asnoter different question completely) When your car is totalled under full coverage, you have the right to receive back an amount equal to what you lost and your car being totaled may only have resold at the lower estimate but at that present moment, it's worth
What usually the computation for the insurance company when your insured car has been slightly hit at the front?
The estimated Cost of repair as opposed to the vehicles fair market value. The lesser of which is generally the adjusted amount of the claim.
Can be prepared by adding enough amount of soute in a lesser amount of solvent?
hypertonic solution
Are health care providers obligated to accept payment from a secondary insurance with whom they participate when the provider does not participate with the patient's primary insurance?
Yes they will have to accept payment from the secondary insurance, however they will have to bill the primary provider first. What ever the primary insurance does not cover should be covered by the secondary insurance. However, it will depend on the service being provided and the contracted amount that each insurance has agreed to pay. If the primary pays more than the secondary would have paid -there may be a refund due. However, there may be co-pays and deductibles to be met with both insurance policies. There could also be write downs--- you should only pay the lesser amount the provider may have to take a loss if one insurance has a lower contracted amount
If your insurance company says your car is a total loss but you want to have it fixed can they charge you a salvage fee to keep your own car?
Any vehicle, whether a total loss or not, has a value. A totaled vehicle, of course, has a significantly lesser value (assuming the actual total loss has already been settled with the vehicle owner). This value can be anywhere from 5 - 25% of the pre-loss value of the vehicle. If you decide to keep a totaled vehicle after settling with an insurance carrier, they can legally remove the salvage value from your settlement. It shouldn't be much, and you can request that they actually get a salvage quote from a salvage yard. The idea behind this is that you can't legally profit from a loss. In your case, if your totaled vehicle has a salvage value, and you're keeping the vehicle, the insurance carrier must deduct that salvage value. Otherwise, you will get a full settlement, and still retain a vehicle with some value. But...try working with the carrier on what that salvage amount is going to be. Sometimes they'll adjust it to get the loss settled, since you never "really" know what the salvage value is going to be until the vehicle is sold at a salvage yard auction.
How can one obtain insurance from Acadia?
An individual can go about obtaining insurance from the lesser known but very well trust company of Acadia by contacting an insurance rep for the company and speaking to them.
What does accept assignment mean?
When a doctor or hospital sends a bill to an insurance company, the insurance company in turn sends them an offer of a lesser amount to pay the bill. The doctor or hospital then decides whether or not to accept the offer or "assignment." Most of the time they accept it so they can get paid without any problems.
What is superseded insurance?
policy will apply to defined events insured herein, which occurred during the currency of any insurance superseded by this policy and specified intake schedule provided that: a) this extension is restricted to losses which would have been payable by the superseded insurance but which are not claimable because of the expiry of the period of time allowed by the superseded insurance for the discovery of the defined events. b) the defined events are discovered within the sooner of 12 months of the termination of the employment of the employee concerned or within 12 months of the expiry of this policy. c) the amount payable under this extension shall not exceed the amount insured by this policy or the amount insured by the superseded insurance whichever is the lesser
How do you use lesser in a sentence?
You can use "lesser" to compare two things by indicating that one has a lower degree or smaller quantity than the other. For example, "She has a lesser amount of experience compared to her colleague."
What do you do if you have made a large deposit and the bank entered a lesser amount then what you deposited?
CRY
Does electron has lesser amount of charge than proton?
No, their charge is equal to each other.
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
