Legal Question in Personal Injury in Pennsylvania
Friend was stopped at a red light. Driver of the other car, attempting to beat the light, lost control, drove onto an island, then back to the street where that car hit my friends car almost head on. Bounced away and spun around and hit the car again. There is insurance. But my question is "do you still have to pay off the balance of your car loan should this car be beyond acceptable repair"?
2 Answers from Attorneys
Yes. The lender is entitled to get its money repaid. If the value of the car is less than the balance due on the loan, the owner takes the hit. The owner could have bought "gap insurance" to cover this situation.
Unfortunately, yes. But when you sue and win, the "damages" should include the balance of the loan.
Your friend needs a lawyer, especially if someone was hurt.
Mike
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