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Auto liability

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Mr. Lucky

I live in Illinois. My 3-year-old car was parked when it was hit one morning by a person driving to work in a vehicle belonging to his company. The driver said he hit my car because he fell asleep. My car was declared a total loss by his employer's insurance company. The employer's insurance company offered me the NADA value of the car minus the money I still owe on the loan. I have not rejected or accepted this offer. My question is: Do I have the legal footing to demand that they pay me the retail value of the car plus the amount I still owe on the loan? If all I get is the NADA value and the loan comes out of that amount, I won't have much for a down payment on another car.

[This message has been edited by Mr. Lucky (edited August 21, 2000).]



I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.

Okay, so if the car is worth 10k and you owe 5k, they are paying 5k..... I don't think so. Seems like they are trying to get a break. It was the other driver's total fault. I always go for the bigger deal. You are to go for FAIR MARKET VALUE OF THE CAR AT LOSS.. Give them bluebook estimate.

You shouldn't be responsible for paying off a car that is completely totaled. When I totaled my car, i got full fair market value for the car and it was totally paid off.

Hope this helps.

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