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When you retain an totalled vehicle, you receive a little less in your settlement amount. If this amount is enough to pay off your vehicle, you can keep it, but you will not receive your part of the settlement, if any, until after you have the title & it is released from the finance company. Also, the state regulations on retention of total loss vehicles needs to be checked.

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Q: If your financed car was totaled is there any way you can keep it and fix it?
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Related questions

What does the lender do when a financed car is totaled and there is no insurance?

Sue the owner of the car, since the owner was likely required to carry insurance as part of the financing deal.


Do you get to keep the car after its been totaled?

Only if you buy it.


If insurance declares a car totaled can you cancel the claim and keep the car?

You can accept the claim and then buy back the car. This way you get money for the claim and you get to keep your car. The price for the car will be way lower at the totaled price than what you will receive in the claim.


What are your options on a totaled 2005 financed car that had no insurance coverage?

You have no options! Should have got insurance There are none. You have the joy of paying off a car you no longer have. Best thing to do is try and sell it for parts.


What do you do with a financed car when you have to move abroad and can't keep paying it?

Sell it and pay your lender!


What to do when your financed car breaks down?

When your financed car breaks down, you need to get it fixed so you can drive it and keep paying your loan at the same time. If you can't afford to get it fixed, you can give the car back to the finance company.


What do you do if your car gets totaled in a car accident?

The very first thing you do is report it to the police. Whether the car is "totaled" or not (a decision typically made by insurance adjusters), a police report is required for any automobile accident.


My medicaid paid for wheelchair was totaled when a car hit me. They are sending me 23000 do i keep the cash?

Am I allowed to keep money from insurance company


Will you owe taxes on a totaled car?

Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.


What do you do if you had no insurance on a financed car and it was stolen?

Keep making payments on a car you don't have and learn your lesson about not letting your insurance lapse.


After settling with the insurance company for a totaled car do you keep the car or does the insurance compnay?

Legally, if the company pays you for the totaled vehicle, it belongs to them. You can offer (if they don't) to by the scraps back. This would be deducted from your settlement and you would be paid the difference.


Can you register a financed car?

You can, should, and are legally required to register a financed car.