I was in a bad car accident and my car is likely right on the border for being totaled. My problem is, it is a 5 year old car and I still owe $16,000 on it. If my insurance company is good to me, I should just barely be able to get that from them for totaling it. However, I will have no money for a new car, and my credit has taken a hit the last year so I wouldn’t easily be able to get financing on something else.

My question is, if my insurance company totals my car and gives me a check, will the check actually be made out to ME, or will they automatically (or be forced) to give it to my auto loan lender to pay off the car? What I’d like to do is keep paying my loan I already have as if nothing changed, and take my totaled car check and go buy another car outright, but I don’t know if that’s possible or not. Can anyone help?
Everyone who had a “smart” answer: please don’t blame me or act like I’m trying to scam anyone. I would never commit insurance fraud or anything like that intentionally, that’s why I was ASKING. I didn’t know who it went to – I was just trying to figure out the best way for me to keep a vehicle. I’d never intentionally try and scam or defraud anyone.

How To Live Frugally and Cheaply

I have bad credit but have been approved for an auto loan and then a dealer called he got some more info and called me back and told me to come down and see them I asked him if I needed anything down and he told me no and if I had a co-signer that would bring my payments down and I told him I had no one and he said no problem that they could fix me up. When I got there they said I needed a co-signer and when I told them I had no one they lost interest. They did tell me if I found some one They would sell me the car. They even wanted to sell me the truck I wanted and put it in the co-signers name and the truck would be in their name but I would be responsible for the payments, insurance, and tag. This sound wrong. The dealer is a big local one and this just does not sound right. What is up?
Also when he told me I needed a co-signer so my payment would be lower, he said the truck would be in the co-signers name and they would go to him with the paper work later the next week, but I could leave the dealership with the truck. This person did not even have to be a relative. The deal was going to take care of the insurance and I would have to get the tag, He told me to tell the tag people I was doing it for my grandfather. Does this sound right, or fishy?

Clear Your Bankrupsy

I took out an auto lease for my husband to get a car last july.
(i paid $4000 down for him to get an lease car..still remaining 21 payments amount of $500 per month..)
But i am getting a divorce with him without attorney (actually i am filling marriae nullty because of fraud..also there is no way that i can contact with him..he just left from me and took the leased car.. he is immigration.. tried to get green card through me..) He failed make a payment for two months also didn’t pay for the insurance for a while.. I am a full time student..i can’t handle his car payment.. I called Cops but they can’t help me because it’s a regaI matter..so I called the car finance company in this morning and they told me i can sign up for the voluntary reposseeeion. Do you think sign up for voluntary repoesseion is best way for my situation? also how will a voluntary repossession affect my credit?? any penaly??should i wait for the divorce result? please help me..sorry for the bad g
rammars.

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