any insurance experts in here? auto ins question.

Because they are paying off your loan.

Because auto insurance is one of the biggest scams in the country, forcing you to pay to be on the road.


The title will come to you once it's paid off right? Just keep it and seel the truck yourself.

yeah that seems legit, i make 9/10ths of the payments, then if they make the last 3 cuz of an accident the truck belongs to them?

When you settle the claim they take possession of the totaled vehicle. It is like you sold the vehicle to the insurance company. If you still want the vehicle you have to buy it back from them which is usually less than what they give you. When they total a vehicle it means the vehicle is going to cost more to fix than it is worth.

People used to buy totaled cars and fix them and resell at a big profit. That led to laws where you have to disclose the vehicle was totaled which greatly lowered the value of the vehicle. There are laws too against selling vehicles that have been in floods without disclosure.

They are going to pay off your loan and then sell your truck for scrap to recoup the costs associated with doing so. You made have made 9/10's of the payments, after the accident your truck is worth 9/10ths what it used to be worth.

Sounds to me like you were financing a vehicle that should have been paid for in cash.

In this state, the title gets marked as "salvage".

ha nice try asshole. i bought the truck way below retail, financed very little, and its worth a lot still.

it sounds like your mommy and daddy bought you your car, but you tell people that you did.

What you think it's worth and what it's actually worth are two different things. If it was worth as much as you claim your insurance company would be repairing it and not totaling it.

If you don't want to end up losing the value of your vehicles try not crashing them into things? Mmm-k?

its clear you have no experience with body work. as your trying to preach financial responsibility to me and at the same time mocking me for not having a 2014 escalade. i buy used sensible vehicles, usually with cash.

i dont think what my trucks worth, i know exactly what its worth.

No, I'm not mocking you. I am very familiar with body work and even more familiar with insurance. I used to sell it.

If it's worth what you say you'll get a check for the difference between it's actual value and your loan payoff.

another worthless bait thread to boost advertising dollars.

this forum is going down the shitter FAST

if you had a toyota you could part it out to make some money

That being the case, why carry collision insurance?
Why not just carry good liability insurance and
bank the savings for when/if you have to replace the
vehicle?

i will be getting money back, even with a huge deductable............

that wasnt the OP anyways.

i would NEVER own toyota garbage.

My 08 Silverado got repo'd. We only had 8 or 9 payments left. They auctioned the truck and we got a check for over $8000 from the equity in it. It got repo'd this summer.

They are buying it so they get the title. You can buy it back and fix it with used parts if you want...I just did that with my son's Volvo...I bought it back because he wanted a new vehicle, I fixed it up and sold it.

they can write your policy to be anything they want, you need to read your policy. they could have a clause in there to give you 10 kittens in exchange for your auto, just depends on what your contract says.

your karma bar indicates otherwise

honestly it sounds like they're pulling a fast one, if there's nothing in the insurance contract detailing what happens if you have payments left, then they are in free-lance mode and can just make up a deal. they probably know what they are doing, know how to fuck you a little bit, gently.


why did you agree to let them pay off the truck? I'm sure if you made the payments, and took title then they would have to give you the full claim on the truck.

no i get it now.

i was just thinking of the loan payoff, but they give you market value minus the loan, so i guess they "own" it. to keep it you just pay scrap value, $450 in my case.

yea, thats not right.