• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

worthless car

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

L

lizmason

Guest
What is the name of your state? Maryland

I purchased a new Camero in September 2002, four months later it was rear-ended resulting in frame damage. The insurance company repaired the damage. Being in the military, I am currently in California, my car is in Maryland and hasn't been driven in a year.
I attempted to have the car appraised only to have dealerships refuse to buy the car due to the damage. The car is in brand new condition otherwise, with only 3,000 miles on it, but it is absolutely worthless. I owe $18k still, and I am stuck with a $400 montly payment on a car I can't even drive!
I am desperate for a resolution! Am I stuck with the life of this loan?
 


I AM ALWAYS LIABLE

Senior Member
lizmason said:
What is the name of your state? Maryland

I purchased a new Camero in September 2002, four months later it was rear-ended resulting in frame damage. The insurance company repaired the damage. Being in the military, I am currently in California, my car is in Maryland and hasn't been driven in a year.
I attempted to have the car appraised only to have dealerships refuse to buy the car due to the damage. The car is in brand new condition otherwise, with only 3,000 miles on it, but it is absolutely worthless. I owe $18k still, and I am stuck with a $400 montly payment on a car I can't even drive!
I am desperate for a resolution! Am I stuck with the life of this loan?

My response:

Didn't the insurance company repair the frame damage? If not, what did you mean by "in brand new condition" when the frame is part of the "condition"? If it wasn't repaired, why not?

IAAL
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top