When your totaled car has been paid off
When you total your car, it can ruin your whole year, especially if you still owe money on it. Nowadays, it has been an increasingly common issue since there are more people who need to take out longer car loans in order to afford a vehicle. According to finder.com, around 44% of American adults depend on an auto loan to pay for a car. If your vehicle is totaled and you owe more money on it than what it is actually worth, your car insurance company will only pay for the actual cash value (ACV). The ACV is the fair market value of your vehicle before it was in an auto accident. The money from your insurance wouldn't even go directly to you. Since your car is financed, it will most likely go straight to the bank. Another scenario is that you would get a check made out to you, which you will need to sign and send to your finance company. The car accident attorneys at One Law Group in Beverly Hills are available to help you gather the information you need in order to file a claim against the at-fault driver. They can even approach the insurance company on...
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