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In most cases people shopping for used cars do not have the cash to buy a vehicle outright. They usually are in need of a loan for Used Auto Financing. It is important to remember that you not only need to comparison shop on the price of the car but you should do the same when shopping around for used car financing. It could save you a substantial amount of money in the long run. Before accepting an offer for financing a used car, educate yourself on the particulars of vehicle financing. Using online car loan websites to do research is an easy and effective method. Get more detail at

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Q: How is the balance of a car loan computed for the remaining balance after principal is paid by the insurance company and there is still a balance?
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Related questions

What happens if you haven't paid the remaining balance after the repossession?

"remaining balance" as in what you are behind OR the remaining balance due on the loan??

When a primary insurance pays more than the secondary allowable is the remaining balance the patient's responsibility?

Yes it is patient responsibility

How can you show that more interest is paid at the beginning of a loan period than at the end?

Interest is computed on the remaining balance monthly..If you have a credit card balance and pay exactly every 30 days, you will see that the interest charged is reduced by a small amount every month.

Is it legal for the insurance company to hold the remaining balance of your claim to apply to your loan as principal payment?

In any case you get your money don't you? If the insurance company paid the principal of your loan than that means you don't have to so the money you would have paid is now yours...just as if the insurance company had cut you a check. Remember, until the loan is paid off the lender's claim to the property is superior than yours. If you are not going to use the money to repair the damage, the lender will want the loan principal reduced by a proportial amount. The most usual arrangement is that the bank will hold the insurance payment in an account for you and use it to pay the contractor after the repairs have been completed.

What are two things that are included in your monthly mortgage payment?

Interest and a portion of the principal balance. Often banks will escrow your insurance and tax payments as well.

What are the benefits of having life mortgage insurance?

The primary benefit of having mortgage life insurance is to eliminate the risk of passing one's debt onto their heirs. The point of having mortgage life insurance is that if one dies with an unpaid balance on one's mortgage then the insurance covers the remaining balance and whoever inherits the estate will owe nothing on the house.

If you have a copay with your primary insurance but also have secondary insurance do you have to pay the copay before treatment?

Depends on the doctors office billing procedures. For more details visit yes, your secondary insurance should cover this amount if you have reached your deductible with them. Normally, if the primary insurance applies a deductible or co-insurance/co-pay and you have not met your deductible on your secondary policy, depending on your policy they may apply the remaining balance to your deductible. Normally after the deductible is met on the secondary ins. they pay 100% of your remaining balance.

Prepaid insurance is reported on the balance sheet as a?

Prepaid insurance is reported on the balance sheet as a

How is the remaining balance collected?

Who loaned the money?

Can an insurance company make you pay the remaining balance on a policy if you cancel without notice and find other coverage?

In some states this allowed but not all. It's best to check with your states department of insurance about local regulations.

What does it mean to surrender a life insurance policy?

It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.

Does paying insurance expense affect balance sheet?

Payment of insurance expense affects the balance sheet as it reduces the cash or bank balance which is part of balance sheet as well.

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