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Cars and Transportation
Reply to "Question about insurance- Car totalled"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You the actual cash value of the car that was totaled not the amount of a current model. Hopefully you’re not upside down on a loan.[/quote] Yeah, that's why you need to make sure you have Gap insurance. And don't buy cars all cash or large (or any) downpayments.[/quote] Buying cars cash or with a large down payment doesn't factor into this at all. You get the same amount of money for your car when it is totaled regardless. If you have a large loan on your car you might be upside down and have to keep paying on the loan on a totaled car.[/quote]
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