Is it reasonable and fair to ask the party at fault to pay my lien in full if my vehicle is totaled?

Asked over 1 year ago - The Woodlands, TX

I was rear ended, my car is totaled according to the insurance adjuster and the vehicle, according to some research I've done, is worth only a little over half of what is still owed on my lien.

Attorney answers (4)

  1. Richard Kurt Arbuckle

    Pro

    Contributor Level 19

    6

    Lawyers agree

    Answered . First, if you were injured seek medical treatment and talk to a lawyer about handling your claim. Do this before you try to deal with the other driver's insurer.

    To answer your question, they are obligated only to pay what you could have sold the car for, not what you owe on it. The money from the insurer will go directly to the lien holder and you will still owe the rest. However, you may have additional insurance that will cover the rest. Check out what you are paying the lien holder and see if part of it is to pay for extra insurance on the loan. It may or may not be there and it may or may not cover this situation, but check.

    This is not legal advice. You should always discuss the specifics of your issue in person with an attorney. Be... more
  2. Paul Hilmon Cannon

    Contributor Level 13

    3

    Lawyers agree

    Answered . In Texas you get the fair market value of the car immediately before the wreck occurred. Sorry but the amount you owe rarely matches its value.

    All information provided here is for educational use only and does not constitute legal advice nor establish any... more
  3. Jeffrey Ira Schwimmer

    Contributor Level 19

    2

    Lawyers agree

    Answered . Generally, you are entitled only to the cost of repair, or the fair market (book) value of the car if it was totalled, Any loans you took are not recoverable from the adverse party or his/her insurer.

  4. Christian K. Lassen II

    Pro

    Contributor Level 20

    2

    Lawyers agree

    Answered . Fair market value. If you were injured, retain one of the above personal injury lawyers.

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