Finance co. Vs. Insurance co.

by Mark
(Naples Florida)

A finance co. holds the title to my car, which was recently totaled. Who will recieve the money from the insurance co.

The finance co. or the original purchaser of the car?

Answer:


Hello Mark,

The finance corporation is a lien holder. They have priority rights of over you. Please see: Financial Responsibility Clauses.

They will get the settlement. If there is an excess amount from what you owe and what the settlement is for, they will send you the remainder.

Please see our section on car total losses.

Good Luck,
Auto Insurance Claim Advice
Spokane Washington