I financed my car with Toyota on December 2019. I was told I needed full coverage insurance and to sign up with Geico and I could change it later. It was too expensive for me so I put it on my parents insurance in January 2020 because it was cheaper. I told the insurance agent to remove our old car and to put my new car. I was not clear and did not say to put full coverage so the agent put whatever coverage the old car had which was just liability. The whole year I had it I just assumed I had full coverage and never read the statements we got in the mail.
I got into an accident that was my fault and my car is totaled. The insurance is only covering the other car but not mine. The gap insurance is still processing the claim but if they do approve it they’re only covering around $2,000 which still leaves me with $18,000. I’ve been told by multiple shops that it’s not worth fixing.
I don’t want to mess up my credit by not paying it and I was told I can’t sell it because it has a lien on it.
Do I have any options besides paying on a car I can’t use? Can I sell it for parts? Can I finance another car and add it to my remaining balance?
Submitted February 25, 2021 at 06:28PM by Jenfl97 https://ift.tt/3uABjxN
