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Do i still have to pay the finance company if the car is totaled out
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Unfortunately, "Yes!" Your situation is all too common, wherein you owe more on the vehicle than its fair market value. The insurance company is only required to pay you the fair market value for your vehicle. If you owe more to the bank, you still have to pay them the balance of your loan. Sometimes the banks will work with you depending on how much you still owe. Best of luck.
Answered on Apr 12th, 2013 at 3:24 PM