Auto Title Loan

[amgerman22]

I live in the state of Georgia. In November, I took out a Title loan on my car for $1500. However, the car has been into an accident and will cost too much to fix. I only had Liability insurance on the car. The insurance companies are disputing who is at fault. My question is:

Do I have to pay the $1500 back or can I just give them the car?

Help Please?

 

[Zigner]

I live in the state of Georgia. In November, I took out a Title loan on my car for $1500. However, the car has been into an accident and will cost too much to fix. I only had Liability insurance on the car. The insurance companies are disputing who is at fault. My question is:

Do I have to pay the $1500 back or can I just give them the car?

Help Please?

You have to pay them the $1,500 (at least). In fact, I'm willing to bet that you violated the terms of the loan by not maintaining sufficient insurance...

 

[amgerman22]

They were aware I had only liability on the vehicle. Can't they reposess the vehicle and sell for parts or something? I'm sure they will get the $1500 plus. The bluebook was $4000 before the accident.