Car Payment Liability

tkdrspm · #1 05-24-2005, 02:42 PM

What is the name of your state? Colorado

I was involved in an automobile accident just over three months ago. The other party had run a red light and turned left hitting my driver's side front quarter-panel. (It was a one-way intersection. I was traveling south and she was traveling east but was turning left to go south. Hopefully that makes sense to everyone.) I have a witness statement on the ticket indicating that she ran the light and that I was not at fault. Unfortunately, the officer that ticketed her cited her improperly and she got off on a very lucky technicality. She still denies responsibility but both insurance companies agree that she's at fault so I'm curious about my car payments. Three months later I'm still waiting for the auto body shop to complete their work (almost 18k in damages). Is it possible for me to get compensation for my car payments? I have been paying for a car that I can't even use since the other party ran a light. I'm tired of cutting a monthly check and I want to be compensated for almost $2,000 in payments. Is this possible?

Thank you very much for reading and all responses are appreciated.

teflon_jones · #2 05-24-2005, 02:48 PM

The short answer is simple: No.

The long answer is: There's two parts to your payment: interest and principle. There is no portion you pay for usage. You owe money to the lender so you need to pay interest on it. You're also accruing value by paying the principle. That's what your payment goes towards. You don't pay to use the car, so you're not entitled for any reimbursement for something your car payment doesn't pay for.

jpritchett81 · #3 05-24-2005, 08:27 PM

Did you get a rental?? If so, you can be compensated for that....if you paid out of pocket.

As far as your car payments go, Teflon Jones is correct. Just because you weren't able to use your car doesn't entitle you to any compensation. You're not renting your car....are you?? No, you're financing the car for ownership.

That's like you going on vacation for a month...are you going to ask your mortgage company if you can receive credit on your monthly payment because you weren't "using" your home????