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Most likely the check will be made out to you AND the LENDER.

The insurance check will most likely have the lender name on the check. therefore, the lender will either use the check for the original intent, to have the repairs made, or keep the check and salvage the vehicle holding you responsible for any shortage in the original loan value. by the same token you should be refunded any money if the check exceed the balance of the outstanding loan.

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โˆ™ 2015-07-16 19:18:59
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Q: If your car was wrecked then repossessed can you use the insurance check to fix the truck or do you have to give it to the finance company?
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Related questions

What do you do if the finance company has put repossession on your car due to non-payment and you wrecked your car and you had no insurance coverage?

The finance company will sell the wrecked car and you will be liable for the balance on yourloan less whatever the car sells for which in your case will be almost the total of your outstanding loan.Then they will come after you for the money.


Will insurance pay for a repossessed car?

Of course not! It wasn't stolen or wrecked, it was taken from you for failure to pay on the loan!Be sure to cancel the insurance.


Will an insurance company insure a home that had a fire and it not repaired yet?

No Way. Just like an auto insurance company writing full coverage on a wrecked automobile.


What insurance covers medical bills in an accident where someone not on the cars insurance was driving and wrecked?

The un-insured driver will have to turn to their health insurance company for coverage if he carried no auto insurance.


If you were involved in a car wreck and it was not your fault and you did not rent a car because you own another car does the insurance company have to pay you for time lost on the wrecked car?

Depends, you have to ask your insurance company


Who is on the check from the insurance when vehicle is totaled?

Whomever the car is titled to. You will have to sign the title over to the insurance company since they essentially bought the wrecked car from you.


Do insurance have to pay you the value of your wreck?

It depends on the insurance coverage, and what caused the wreck. But allowing the coverage covers the incedent the insurance company will pay the VALUE DETERMINED BY THE INSURANCE COMPANY. Not what you think it was worth. I have about $40,000 in a car the insurance comapny will pay $3,000 for if it gets wrecked.


Who is responsible if someone was driving my car and wrecked it?

If they had your permission to drive, then your insurance company should cover it. They should, however, check with their insurance company and also cover any out of pocket expenses to get it fixed.


What makes a motorcycle totaled?

When a vehicle covered by insurance gets wrecked, the insurance company looks at how much it will cost to repair. If repairing the bike costs more than it is worth, then the insurance company declares it totaled and pays for a replacement.


Can a person in the military who is not on overseas duty be sued for the repossession of a wrecked vehicle?

Did you have insurance when it was wrecked???


Will homeowners insurance cover a wrecked car?

NO, That's what car insurance is for.


What if the car repossessed got in a wreck?

If you buy a car, lend it to a friend and it get wrecked then you have to get it reposessed with a bk. What can the creditor do if the car is wrecked? Even after the bk can you be charged for missing or broken parts?

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