What to do with my totaled car that has a lien? ?

Long story short, I bought my car last December at a buy here pay here place. Last month, I hit a deer and my car is considered a total loss and I only have liability insurance. My car has been sitting at the shop for almost a month now and I don’t know know what to do with it. I can’t drive it and I can’t sell it because I still owe $6,000 on it. Can I call my lien holder and see if they what they can do for me? I know I’m going to have to pay off the rest of the loan, but it would be nice if I didn’t have to find a place to store a car that doesn’t run. Could they possibly come get the car and take let’s say $500 off my balance and I continue to pay off the loan? Or is my only option to park it until it’s paid off? 

Please no hateful comments as I am already kicking myself for not having full coverage. :) I will also add that the lien holder does not include gap insurance or any other type of coverage in my monthly payment. 

20 Answers

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  • 3 weeks ago

    Yes talk to them.You will have to pay off the rest of the loan

  • Anonymous
    3 weeks ago

    That's not your only problem. The towing company & storage has to be paid, too. Did the deer have insurance? You now have a FICO of 540. No one will lend you a dime.

  • zipper
    Lv 6
    3 weeks ago

    They take the car and you have to pay the balance off plus any legal fees that result from them taking the car.  OUCH!  Been there done did that and it hurts!

  • 3 weeks ago

    This is not your problem.

    You still have problems, but this is not one of them.  If your lienholder didn't specify that you needed to carry Collision and Comprehensive coverage as part of the contract, that's not your problem.  If your insurer forgot to ask if there were any liens registered against your vehicle, that is also not your problem.  And if your lienholder forgot to insist that you purchase GAP coverage, that is also not your problem.

    Your problem is any traffic tickets you may have received, plus paying back the money you borrowed.  But those are your only problems.

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  • Anonymous
    3 weeks ago

    What you have to do is "Find a Place to Put It." The repair shop does not want it and wants its space.So you "GOT 2DO THAT! You got to start someplace. Even if it sits on your front lawn or back garden...or a friends yard. Until you make other arrangements. A deer is not a big animal, so doubting if the vehicle is totaled. Financially it does not make sense, but that is shop rates. Many backyard mechanics fix these minor bruises all the time and flip the cars reselling for a profit.

     You are stuck with the car until you can either sell it through the newspaper or word of mouth. The junkyard probably will give you $300 for the car. Then someone will buy it from the junkyard for more and do the fix up and sell it for a couple K. It has bodywork damage(fender bender and maybe hood & grill.) All replaceable parts...with some effort from other cars in the junkyard of the same make.

    .  You got to do the hustle and ask body shops and mechanic shops and put the word out on your car.  The more you can get for it, the more cash you have to pay towards the LOAN.  Or maybe some dude can get your wheels running.  Won't be pretty but it is transportation.  If it is drivable, then it is worth  at least $1500. to somebody else.

    The lien holder will not touch your car.

    That is your problem.  It would be cheaper to park it and pay off the loan as there is no need for car insurance when it is parked, nor the need to feed it gas.  So you save there while the car is up on blocks(essentially)...in a free spot for awhile.  You will still have to move it should that person decide to sell his house and property...and you do not need it in a place where it will get vandalized. So not in the baddest part of town.  I would try the free newspaper as it probably has a free classified web site. & advertise the car there for sale. Deer damage front end. Year & make. Closest offer to $3K.  You know you won't get 6 for it so half would not be bad. Cash only.

    You say you can't sell it, which is true.  That you are going to have to work out with the lien holder. They may advise you to take out an auto loan from a bank and pay the lien holder off and he can undo the lien.  Now you can sell it.  Your Loan is with the Bank.

    The lien department is different from the LOANS department even if it is in the same bank.  The Auto loan is given provided you pay a certain amount of interest on top of the amount. & you make payments.

    Right now that is the deal.  You still own the car.  It is your piece of scrap metal to do something with.

    I had a run in with another car in a head on crash at 80MPH.  in the VW VAN.  Smushed in the front cab.  My dad's van. He still got the FIRST OPTION on whether he wanted the vehicle back.

    . He didn't(because he did not know if I would survive.)

    . The thing is, even Totaled that was FIXABLE.  It went to auction, someone bought it and they had a second VW Van that they cut off the good cab and switched cabs and welded it together, repainted it and had it certified roadworthy.  Sold the 2 year old van for  the going price of a 2 year old van.  The new owner did not know that it is 2 vehicles made into one.(and drove it for another 10 years and resold it to someone else.)

    Yours is barely damaged - if you had to compare the 2. So easily fixable by those that know how to do it.or anybody that does some research through books or YouTube videos.

    Hell, I would be able to do it and I am not a body man.  Much of it is hammering the parts or refitting with other parts...off other vehicles.   I would be laid up for awhile from any job after the accident so got lots of time to do it.

    I am just relating what is done with cars ALL THE TIME.

  • 3 weeks ago

    Yes, you can call the buy here pay here place and talk to them.  You owe them money, and you will owe the body shop for storage also if you let it sit there much longer.

  • Cathy
    Lv 4
    3 weeks ago

    just claim bankruptcy  

    Source(s): Donald Trump
  • Anonymous
    3 weeks ago

    < Can I call my lien holder and see if they what they can do for me?  >

    They are going to expect you to pay for the car.  The fact you totaled it is meaningless.  This must be a private loan because any bank is going to insist you provide proof of full coverage in order for them to be protected just something just like this.

  • Anonymous
    3 weeks ago

    You still owe the money and they expect you to pay it. They are not coming to get the car.  You will not qualify for another car loan because you don't earn enough.

  • Anonymous
    3 weeks ago

    Try selling the car. But you probably won't get much for it. Cars at auction usually go dirt cheap after accident. But if you can gt $1500 for it that's better then nothing.

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