Compensation for Equity?

[keniz138]

What is the name of your state?
Rhode Island

Wife in car accident last night, hoping driver is insured but have my doubts. Car MAY be a total loss.

She currently owes the approximate book value on the car. I have read a bit about replacement cost and ACV and I am getting nervous that all she will get is the straight blue book value of the car. What about the 1.9% financing she had on it which she willnot be able to get again? What about her needing to start over at square 1 with a new car? Is any consideration provided for that?

If not a total loss, any consideration for car's resale value going through the floor?

 

[Lynx 36]

Quote: "What about the 1.9% financing she had on it which she will not be able to get again?"

Has no bearing on the settlement.

Quote: "What about her needing to start over at square 1 with a new car? Is any consideration provided for that?"

Whoever ends up paying f/ your total loss is only required to give you the ACV of the vehicle. That's it. Buying a new car and obtaining a loan is your responsibility, and there are no considerations f/ that.