November 11, 2009
Will Capital one repossess a car that was totaled out by the insurance company?
lucyblue_1999 asked:
I was involved in an accident in which the insurance company deemed my car a total loss. I still owed captial one auto finance about 6,000 on it and I didn't have gap insurance. I elected to buy the car back from the insurance company for $600, but now I'm worried about Capital one trying to repossess the car, even though it's wrecked now. Will captial one reposess a vehicle which has been deemed a total loss? Will I get a salvage title from the insurance company automatically, or who do I need to contact to get that?
atlanta salvage
I was involved in an accident in which the insurance company deemed my car a total loss. I still owed captial one auto finance about 6,000 on it and I didn't have gap insurance. I elected to buy the car back from the insurance company for $600, but now I'm worried about Capital one trying to repossess the car, even though it's wrecked now. Will captial one reposess a vehicle which has been deemed a total loss? Will I get a salvage title from the insurance company automatically, or who do I need to contact to get that?
atlanta salvage
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Comments on Will Capital one repossess a car that was totaled out by the insurance company?
6:47 pm
atlanta salvage
they pay capital one/capital still has title and they may forward to ins co/you have to track it down
1:26 am
atlanta salvage
Yes they can repo, and you are still liable for balance on loan if the insurance didn't pay it off. As far as title contact your local DMV
6:40 pm
atlanta salvage
Nope they will not.. Believe me i had the same thing. I wanted them to repo it but they would no.. its a great thing..But they will write it off asually as a bad debt, then you have that against your credit. The best thing to do is keep paying them the car payments or get the 6,000 up and pay it off.
9:23 pm
atlanta salvage
The only way they would repossess the car is if you fail to make the payments. All they want is their money.
8:33 pm
atlanta salvage
If you stop paying the loan they can repo it.