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Can i salvage my car if i still owe money on it.

Mesa, AZ |

my husband let a friend borrow our car and she was in an accident. our insurance company is not going to cover it since she was not covered by our insurance and the other driver's insurance company is denying fault. Its still under investigation by the other drivers insurance company. I would like to know if i am able to salvage my tittle if i still owe money on the car. I am thinking of just selling it to a junk yard or something.
Am I able to salvage it or sell it to a junk yard even if i still owe on it and am still making payments? I dont know what i can do with this situation because i need a car or money for the car so that i can get a new car.

Attorney Answers 3

  1. Yes--you have every right to be paid for the damage and keep your car, less salvage value

  2. I agree with previus counsel but I am not clear whether you have possession of your car or was it towed to at a local garage. If it was towed, you may have to pay for the tow plus the daily storage fees.

    I am licensed only in California. This information is good only in California and it is not to be taken as legal advise in any other type of situation.

  3. You may have a difficult time with your finance company if you go to sell the care outright or for salvage since there is a lien on the vehicle. You have an obligation to pay the debt on the vehicle and the vehicle itself is the collateral with the finance company.