automotive laws
If you back into a car and the damage costs more than the car do you have to pay the amount of the car or damages?
Asked on 12/03/08, 2:25 am
1 Answer from Attorneys
Sam Hochberg
Sam Hochberg & Associates
Re: automotive laws
In Oregon, if you're at fault for damaging a car as you described, and it would cost more to fix than it's worth, then you owe the car's fair market value, rather than the cost to fix.
The trick is figuring out fair market value (FMV). FMV is best calculated by looking to current comparable cars in your region that are for sale; even better is to call them and find out what these cars actually DID sell for. If you were insured for this accident, why not let the insurance company deal with it?
Good luck,
-- Sam
Answered on 12/03/08, 11:20 pm
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